Magnum Energy Inc.

Magnum Energy Inc.

January 16, 2008 14:30 ET

Magnum Files Its Annual Reserves and Other Oil and Gas Information Data

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 16, 2008) - Magnum Energy Inc. (TSX VENTURE:MEN) announces that in accordance with National Instrument 51-101, Standards of Disclosure for Oil and Gas Activities of the Canadian Securities Administrators, the Company has filed its reserves data and other oil and gas information (51-101F1, F2 and F3) for the years ended August 31, 2006 and August 31, 2007, copies of which may be obtained on or by contacting the Company.

About Magnum Energy Inc.

Magnum Energy Inc. is a junior oil and gas exploration company operating in the Western Canadian Sedimentary Basin. The Company is headed by Ted Konyi, CEO, who has had extensive experience in the financing of oil and gas projects in Western Canada. The Company has established an initial core area in South Eastern Alberta which it believes will produce significant cash flow for the Company upon completion of a comprehensive drilling program.

The TSX Venture Exchange has neither approved or disapproved the contents of this press release.

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