FPL First Calgary

    News release via Canada NewsWire, Toronto 416-863-9350

 

    Attention Business Editors:

    First Calgary Petroleums Ltd. - Update Re Outstanding Securities

 

    TSX: FCP

    AIM-LSE: FPL

 

    CALGARY, Nov. 13 /CNW/ - First Calgary Petroleums Ltd. announces that

4,700,000 new common shares have recently been issued by the Company.

    3,000,000 of these shares were issued on the exercise of outstanding

warrants at Can$0.65/share and 1,400,000 of these shares were issued on the

exercise of outstanding warrants at Can$.56/share (exercised on October 16,

2002 as to 760,000 at $0.56 per share, November 4, 2002 as to 2,250,000 at

$0.65 per share and November 7, 2002 as to 750,000 at $0.65 per share and

640,000 at $0.56 per share). 200,000 of the shares were issued on the exercise

of stock options at Can$0.22/share, 33,334 stock options at Can$0.50/share and

66,666 stock options at Can$0.77/share (exercised on September 16, 2002 as to

100,000 at $0.22 per share, October 1, 2002 as to 100,000 at $0.22 per share

and October 24, 2002 as to 33,334 at $0.50 per share and 66,666 at $0.77 per

share). In addition, 100,000 shares were issued on the exercise of stock

options by a director of the Company, being Raymond P. Antony, on October 24,

2002 in the amount of 33,333 common shares at Can$0.50/share and 66,666 shares

at Can$0.77/share, with all 100,000 common shares being sold by Mr. Antony on

October 24, 2002 at $1.18 per share.

    The exercise of these warrants and stock options has raised Can$2,846,000

of additional cash for the Company. Application has been made for the new

shares to be admitted to trading on AIM.

    First Calgary Petroleums Ltd. also announces that options to acquire, in

aggregate, 1,250,000 common shares have been granted. On August 29, 2002

options to acquire 1,000,000 common shares were granted at Can$1.25/share

expiring August 29, 2007 including the grants of stock options to company

directors and senior management as follows:, Richard G. Anderson 200,000

shares, Martin G.J. Layzell 100,000 shares, Kenneth C. Rutherford 50,000

shares, Darryl J. Raymaker 100,000 shares, Raymond P. Antony 100,000 shares

and Alastair J. Bearsdall 100,000 shares. On October 17, 2002 an option to

acquire 250,000 common shares was granted at an exercise price of

Can$1.06/share expiring October 17, 2007 to Eleanor J. Barker, the recently

appointed Vice President, Investor Relations of the Company.

 

    This press release is being issued in compliance with the rules of the

    Alternative Investment Market of the London Stock Exchange ("AIM").

    For further information: Richard G. Anderson, President and CEO, Phone:

(403) 264-6697; or Eleanor J. Barker, Vice President, Investor Relations,

Phone: (416) 509-5680

    (FCP.)



END

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