September 29, 2005 – Naeem Tyab, President of Mogul Energy International, Inc. is pleased to report that the company has entered into a Farm Out Agreement with Mogul Energy Ltd. (a private corporation incorporated in the Province of British Columbia) to acquire a 20% interest in the East Wadi Araba Concession. The East Wadi Araba Concession for petroleum exploration and exploitation with the Arab Republic of Egypt is situated in the Gulf of Suez, Arab Republic of Egypt.