Orleans Energy Announces Stock Options Grant

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CALGARY, ALBERTA--(CCNMatthews - June 16, 2006) - Orleans Energy Ltd. ("Orleans" or the "Company") (TSX VENTURE:OEX) announces the grant today of 1,253,000 stock options to the Company's employees, officers and directors at an exercise price of $5.30 per stock option. The stock options were granted pursuant to the Company's stock option plan and vest over a three-year period with a five-year expiry. The Company presently has 3,031,136 shares reserved for issuance under its stock option plan. Subsequent to this stock option grant, Orleans will have a total of 2,712,905 stock options outstanding, representing 8.9% of the current total issued and outstanding shares of 30,311,359.

Orleans Energy Ltd. is a Calgary, Alberta-based emerging crude oil and natural gas company, with common shares trading on the TSX Venture Exchange Inc. under the symbol "OEX". Orleans is a team of dedicated, experienced professionals focused on the creation of shareholder value via acquisition and development of crude oil and natural gas assets in Alberta.

The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this news release. Orleans Energy Ltd.
Barry Olson
President & CEO
(403) 215-2941
Email: bolson@orleansenergy.com

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Orleans Energy Ltd.
Dean Bernhard
Vice President, Finance & CFO
(403) 215-2945
Email: dbernhard@orleansenergy.com

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Orleans Energy Ltd.
Suite 1250, 521-3rd Avenue S.W.
Calgary, Alberta T2P 3T3
(403) 261-8850 (FAX)
Website: www.orleansenergy.com