Information  X 
Enter a valid email address

Adulis Resources Inc (ADS)


Thursday 01 September, 2005

Adulis Resources Inc

Granting of Stock Options-Rep

Adulis Resources Inc.
01 September 2005

The following replaces the 'Granting of Stock Options' announcement released
today at 07: 00 under RNS number 6922Q, restating and supplementing the
information previously provided

                             ADULIS RESOURCES INC.

                                  NEWS RELEASE

September 1, 2005
                                                                CALGARY, ALBERTA


Adulis Resources Inc.,(TSXV: ADE, AIM: ADS), the Colombian focused independent
oil and gas exploration and production company, announces granting of stock

Adulis Resources Inc. (the 'Corporation' or 'Adulis') announces that an
aggregate amount of 1,900,000 stock options have been granted to acquire common
shares to various directors, officers, employees and consultants of the
Corporation.  Seven directors and officers of Adulis received an aggregate of
1,400,000 of the total number of options granted. The options were granted with
an exercise price of $1.67 per share and expire on August 30, 2010. The stock
options will vest as to 1/3 on each of the first, second and third year
anniversary from the date of grant.

The following schedule indicates the name of Adulis Director, the date at which
the Corporation was aware, and the date the deal was effected. As well, the
schedule indicates the price of which the options were granted, the number of
options granted and the type of common shares of the Corporation.

Name             Date Corporation Date Deal        Price of Stock   Amount of Stock     Type of Common Shares
                 Aware            Effected         Options          Options Granted

Stan Grad        August 30, 2005  August 30, 2005  $1.67 CDN        100,000             No par value
Grant Howard     August 30, 2005  August 30, 2005  $1.67 CDN        100,000             No par value
Roy Hudson       August 30, 2005  August 30, 2005  $1.67 CDN        100,000             No par value
Ray Antony       August 30, 2005  August 30, 2005  $1.67 CDN        100,000             No par value
Steve Newton     August 30, 2005  August 30, 2005  $1.67 CDN        400,000             No par value

The Corporation has determined that exemptions from the various requirements of
Ontario Securities Commission Rule 61-501 are available as the fair market value
of the grant of options to the directors and officers is less than 25% of the
market capitalization of Adulis.


Adulis Resources          Stephen Newton           [email protected]     + 0057 1 629 1636
                          Ray Antony               [email protected]                     + 00 403 266 7512

Pelham Public Relations   James Henderson          [email protected]          +4402077436673

The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release.

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                                                                                                                                               

a d v e r t i s e m e n t