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Questerre Energy reported today that directors and
officers have increased their shareholdings in the
company. Through the exercise of a total of 417,000
stock options expiring in February 2011 at a price of
$0.65 per share, they have increased their positions
as follows:
Michael Binnion, President and Chief Executive
Officer, acquired 195,000 shares through the exercise
of stock options increasing total number of shares
held to 6,140,045 shares. Mr. Binnion, also exercises
control or direction over an additional 5,035,792
Common Shares through Rupert's Crossing, an investment
holding company.
Peder Paus, Chairman, acquired 75,000 shares through
the exercise of stock options increasing his total
number of shares held to 5,655,925 shares
Russ Hammond, Director, acquired 50,000 shares through
the exercise of stock options increasing total number
of shares held to 50,000 shares
Jason D'Silva, Chief Financial Officer, acquired
64,000 shares through the exercise of stock options
increasing total number of shares held to 2,683,140
shares.
Rick Tityk, VP Land, acquired 33,000 shares through
the exercise of stock options increasing total number
of shares held to 73,000 shares
Other Transactions
In accordance with the company's stock option plan,
certain other members of management have exercised
their put rights with respect to expiring stock
options with a weighted average exercise price of
$0.71 per share. No shares have been purchased or sold
as a result of the exercise of this put right.
The options were purchased by the Company for an
amount equal to the difference between the market
price and the exercise price. The following members of
management exercised their put rights as detailed below:
John Brodylo, VP Exploration exercised put right with
respect to 150,000 options
Peter Coldham, VP Engineering & Operations exercised
put right with respect to 225,000 options
Maria Rees, VP Business Administration exercised put
right with respect to 75,000 options
Rick Tityk, VP Land exercised put right with respect
to 42,000 options
Jason D'Silva, Chief Financial Officer exercised put
right with respect to 11,000 options for tax purposes
