EX-99.1
3
ex99_1.htm
EXHIBIT 99.1
ex99_1.htm
Exhibit
99.1
Mogul
Energy Announces Agreement to acquire a 40% interest in Excelaron
LLC
SEATTLE,
February 18 /PRNewswire-FirstCall/ -- Mogul Energy International, Inc. (OTC
Bulletin Board: MGUY; FSE: BKX) announced today that it has entered into an
agreement with Excelaron LLC wherein Mogul Energy has acquired a 40% membership
interest in Excelaron LLC, a California based company. Excelaron LLC
is in the process of developing oil and gas leases that Excelaron has entered
into that are located in the state of California. Naeem Tyab, President of Mogul
Energy stated, "I believe that the agreement for Mogul Energy to acquire a 40%
interest in Excelaron and to work with Excelaron to develop an oil and gas
project in California presents a tremendous opportunity for the
Company." Greater detail as to the agreement and other activities of
the Company may be found in the Company EDGAR filings at
www.sec.gov
.
Information
concerning Mogul Energy International:
Mogul
Energy is an oil and gas exploration company with headquarters in Seattle,
Washington.
Mogul
Energy is a Delaware corporation with its principal place of business in
Seattle, Washington. 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
).
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 ability to negotiate,
enter into, perform and consummate the business combination described in this
release. Inherent in the Company's business plan is a belief that Mogul Energy
can successfully explore oil and gas properties in Egypt and Canada, and that
the Company can participate in the development 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 other than as required by
law.
Contact
Information:
Company
Contact:
Naeem
Tyab
Mogul
Energy
Tel:
206-357-4220
naeem@mogulenergy.com
http://www.mogulenergy.com

EX - 99 . 1 3 ex99 _ 1 . htm EXHIBIT 99 . 1 ex99 _ 1 . htm Exhibit 99 . 1 Mogul Energy Announces Agreement to acquire a 40 % interest in Excelaron LLC SEATTLE , February 18 / PRNewswire - FirstCall / -- Mogul Energy International , Inc . ( OTC Bulletin Board : MGUY ; FSE : BKX ) announced today that it has entered into an agreement with Excelaron LLC wherein Mogul Energy has acquired a 40 % membership interest in Excelaron LLC , a California based company . Excelaron LLC is in the process of developing oil and gas leases that Excelaron has entered into that are located in the state of California . Naeem Tyab , President of Mogul Energy stated , " I believe that the agreement for Mogul Energy to acquire a 40 % interest in Excelaron and to work with Excelaron to develop an oil and gas project in California presents a tremendous opportunity for the Company . " Greater detail as to the agreement and other activities of the Company may be found in the Company EDGAR filings at www.sec.gov . Information concerning Mogul Energy International : Mogul Energy is an oil and gas exploration company with headquarters in Seattle , Washington . Mogul Energy is a Delaware corporation with its principal place of business in Seattle , Washington . 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 ) . 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 ability to negotiate , enter into , perform and consummate the business combination described in this release . Inherent in the Company 's business plan is a belief that Mogul Energy can successfully explore oil and gas properties in Egypt and Canada , and that the Company can participate in the development 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 other than as required by law . Contact Information : Company Contact : Naeem Tyab Mogul Energy Tel : 206 - 357 - 4220 naeem@mogulenergy.com http://www.mogulenergy.com