FPL First Calgary

    Grant of options to Directors

    TSX: FCP AIM: FPL

    CALGARY, Dec. 20 /CNW/ - First Calgary Petroleums Ltd. ("FCP" or the
"Company") announces that, as part of a Company wide grant of stock options on
December 18, 2007, options to acquire common shares at an exercise price of
$2.78 (Cdn.) per share were granted to the Directors of the Company as
follows: Richard Anderson - 210,000; Alastair Beardsall - 70,000; Keith Henry
- 70,000; Shane O'Leary - 210,000; Charles Pitman - 70,000; Darryl Raymaker -
70,000; Yuri Shafranik - 70,000; and John van der Welle - 70,000.
    With the options granted above, the total number of stock options
outstanding is 16,946,747. Of this total number, these Directors now hold the
following options: Richard Anderson - 1,850,000; Alastair Beardsall - 350,000;
Keith Henry - 270,000; Shane O'Leary - 770,000; Charles Pitman - 270,000;
Darryl Raymaker - 500,000; Yuri Shafranik - 350,000; and John van der Welle -
1,120,000.

    First Calgary Petroleums Ltd. is an oil and gas exploration company
actively engaged in international exploration and development activities in
Algeria. The company's common shares trade on the Toronto Stock Exchange in
Canada (FCP) and on the AIM market of the London Stock Exchange in the UK
(FPL).

    This press release is being issued in compliance with the rules of the
AIM market of the London Stock Exchange.

For further information: First Calgary Petroleums Ltd.: Richard G. Anderson,
President and CEO, Tel: (403) 264-6697; Other contact: Richard Swindells,
David Nabarro, Nabarro Wells & Co. Limited, Tel + 44 (0) 207 710 7400
(FPL)

 



END

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