CALGARY, March 3 /CNW/ - Eagle Rock Exploration Ltd. ("Eagle Rock" or the "Company") (TSXV:ERX) announces that its Board of Directors approved the granting of incentive stock options under its stock option plan to certain of its directors, officers, employees and consultants, to acquire up to an aggregate of 756,000 common shares of Eagle Rock. All of the options are exercisable for a period of 5 years at price of $0.055 per share, the closing price of the common shares on the date of Board approval.

One-third of the options will vest and be exercisable immediately, with the balance vesting on the basis of one-third on each of the first and second anniversary of the date of the option grant. All common shares issuable pursuant to the exercise of options are subject to a hold period of four months and one day from the date of the option grant.

About Eagle Rock

Eagle Rock Exploration Ltd. is a publicly traded energy company involved in the exploration and development of low to medium risk oil and gas properties in Western Canada. Eagle Rock Exploration Ltd. trades on the TSX Venture Exchange under the symbol ERX.

For more information please visit us at www.eaglerockexploration.com

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

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