Mogul Energy International, Inc. Announces Planned Offerings--Mogul Energy Announces Offerings to Finance Exploration on its Saskatchewan Properties--

SEATTLE, November 12, 2007 /PRNewswire-FirstCall/ -- Mogul Energy International, Inc. (OTCBB: MGUY; FSE: BKX) (the “Company”) announced today that it intends to make two offerings (“Offerings”) of its common stock to investors in Canada: one offering on a flow-through basis, pursuant to the Income Tax Act (Canada), and another non-flow-through offering. The Company expects to raise approximately $3 million through the private placements. Pricing of the offerings will be determined in the context of the market. The proceeds of the flow-through will be used to fund exploration and development on Mogul’s freehold oil and gas exploration leases in Saskatchewan, Canada. Completion of the private placements is expected to occur prior to the end of the year.

The shares (“Shares”) to be issued under the Offerings have not been registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold directly or indirectly within the United States or to or for the account or benefit of U.S. Persons (as such term is defined in Regulation S, as promulgated under the Securities Act) absent registration or an applicable exemption from registration. The Shares will be sold only to persons who are not U.S. Persons and who otherwise satisfy the requirements of the applicable securities laws of the jurisdiction of their residency. As such, the Company believes that the Offerings are exempt from registration under Regulation S, as promulgated under the Securities Act. This notice is not an offer to sell or a solicitation of an offer to buy such Shares and is issued pursuant to Rule 135c of the Securities Act.

Information concerning Mogul Energy International:

Mogul Energy is an oil and gas exploration company with headquarters in Seattle, Washington, and an exploration office in Cairo, Egypt. Mogul Energy has acquired a portfolio of oil and gas properties in the Gulf of Suez, Egypt and South East Saskatchewan, Canada.

The common shares of Mogul Energy are quoted on the OTC Bulletin Board (OTCBB) system under the symbol ‘MGUY,’ and the Frankfurt Stock Exchange (“FSE”) under the symbol ‘BKX’. Further information concerning Mogul Energy can be found in the Company’s filings with the U.S. Securities and Exchange Commission (http://www.sec.gov).

Company Contact:

Naeem Tyab, President
Mogul Energy
206-357-4220
naeem@mogulenergy.com
www.mogulenergy.com