X0202 4 2005-06-02 0 0001165639 ALTUS EXPLORATIONS INC #bqa3jbi 0001273968 NASTAT BASSAM 5631 WINCH ST BURNABY BC A1 V5B 2J4 BRITISH COLUMBIA, CANADA 1 0 1 0 common shares 2005-06-02 2005-06-06 4 S 0 30000 0.32 D 5092000 D Stock Options 0.425 2005-11-19 2014-11-19 Common 1175000 1175000 D (1) These shares will vest as to one quarter of the shares on each anniversary of the date of grant for a period of four years (ie. November 19, 2005, November 19, 2006, November 19, 2007 and November 19, 2008). Notwithstanding the previous vesting schedule, should the Company's stock trade at over $1.01 for 10 consecutive trading days, the options shall vest immediately. Bassam Nastat 2005-06-06