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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 31, 2009) - Columbus Energy Limited ("Columbus Energy" or the "Company") (TSX VENTURE:CEL) announces that it has granted 2,750,000 stock options to directors, employees and consultants. The options are exercisable at a price of $0.10 per share for a term of 5 years. The Company option plan was approved at the June 26, 2009 annual general meeting.

The Company is currently assisting Columbus Gas & Oil in seeking financing for the development and/or sale of its offshore oil concessions in Tunisia. It is also seeking solid fuel energy projects in Europe and Asia.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.