Mogul Energy Announces New Vice-President of Business Development

Seattle, WA – September 24, 2008 -- Mogul Energy International, Inc. (MGUY: OTCBB) announced its new Vice-President of Business Development, Mr. William Divine. While Mogul prepares for its drill program in Saskatchewan and continues to expand its operations into international markets, Mr. Divine will play an integral role and advise on all future aspects of business development as well as negotiate new opportunities.

William Divine has 27 years of experience at all levels of the oil and gas industry. He has expertise in the divestiture of major oil and gas companies and owns and operates his own domestic and international properties. Mr. Divine has focused on international consulting that identifies concessions opportunities for individual companies for the past 20 years.

Mr. Divine maintains close contact with a number of government ministries regarding international oil and gas opportunities. He assists in conducting studies to determine the commercial potential of the upstream opportunities and negotiates the concession contract agreements to secure the rights to develop these opportunities. He has also been conducting extensive research by identifying the undeveloped oil and gas discoveries worldwide.

Information concerning Mogul Energy International:

Mogul Energy is an oil and gas exploration company with headquarters in Seattle, Washington. Mogul Energy has acquired a portfolio of oil and gas leases in South East Saskatchewan, Canada. The Company has a 100% interest in sixty-eight (68) separate freehold oil and gas exploration leases on approximately 9,300 acres situated in South East Saskatchewan.

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).

View Information on Forward Looking Statements >>