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Seattle, WA July 24, 2007-Mogul Energy International, Inc. (NASD OTC: MGUY; FSE: BKX) announced today that the Company (ISIN NUMBER: US60801P2083, CUSIP ID: 60801P 208), has been approved for listing on the Frankfurt Stock Exchange under stock symbol ‘BKX’. Mr. Naeem Tyab, President of Mogul Energy International, Inc., states "Our listing on the Frankfurt Exchange and relationship with Tradegate AG is a clear demonstration of our commitment to facilitate global access to Mogul Energy and is expected to improve liquidity for our shareholders while we continue to develop new projects. We anticipate that this listing will enable Mogul Energy to attract European institutional and retail investors and provide them with a market for Mogul Energy stock in their time zone. I believe our listing on the Frankfurt Stock Exchange will facilitate broad global investor interest in Mogul Energy.” Tradegate AG submitted the listing application on behalf of Mogul Energy and will serve as its specialist on the FSE.
Mogul Energy International, Inc., also announced that it has appointed Mr. Sean Malcolm to the role of General Counsel and Vice-President of Business Development. Mr. Malcolm will be responsible for the legal and corporate governance affairs of the Company, including business development activities.
About Mogul Energy International: Mogul Energy International, Inc. is an oil and gas exploration company with headquarters in Seattle, Washington, and an exploration office in Cairo, Egypt. The Company recently announced the initiation of its drilling program in the Gulf of Suez. An independently prepared NI 51 101 Evaluation Of Prospective Resources report estimates that the potential Recoverable Oil In Place (OIP) from Mogul’s five identified drilling prospects may potentially reach approximately 297 Million barrels. There are an additional six drilling prospects that Mogul and its partners are currently evaluating in the East Wadi Araba Concession, in which Mogul has a 20% working interest. The deviated EWA 4X well, drilled from an onshore surface location, is testing an offshore structure, targeting light oil in the Raha and Nubia formations.
Mogul Energy aims to develop its portfolio of oil and gas properties in the Gulf of Suez, Egypt, and South East Saskatchewan, Canada. Mogul Energy has a 20% working interest in the East Wadi Araba Concession located in the Gulf of Suez, Egypt, and holds a 100% interest in approx. 9,300 acres of leased properties located in South East Saskatchewan, Canada. Mogul Energy trades on the OTC BB under the ticker symbol MGUY, and on the Frankfurt Stock Exchange under the stock symbol BKX.
Investor Relations
Bethany Tomich
Equity Performance Group
617-723-1465
Bethany@equityperfgp.com
www.equityperformancegroup.com
Company Contact:
Naeem Tyab, President
Mogul Energy
206-357-4220
naeem@mogulenergy.com
www.mogulenergy.com
Forward Looking Statements
This news release contains “forward-looking statements” within the meaning of the securities laws, which are based on current expectations and beliefs, as well as on a number of assumptions concerning future events made with information that is currently available. Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management, including, but not limited to, the Company's belief that Mogul Energy can successfully develop oil and gas properties in Egypt and Canada, and that the Company can participate in the exploration of those properties. Readers are cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside of Mogul Energy’s control, which could cause actual results to differ materially from such statements. For a more detailed description of the factors that could cause such a difference, please refer to Mogul Energy’s filings with the U.S. Securities and Exchange Commission. Mogul Energy International, Inc. assumes no obligation to update or supplement such forward-looking statements.
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