SOURCE: Management Energy, Inc.

November 19, 2009 09:00 ET

Management Energy, Inc. Enters Into Agreement With Former Chief Executive Officer, Secures Royalty Interest in Montana Project and Continues to Pursue Other Coal Opportunities

SAN JUAN CAPISTRANO, CA--(Marketwire - November 19, 2009) - Management Energy, Inc. (OTCBB: MMEX) announces that on October 8, 2009 it entered into an agreement with its former Chief Executive Officer to resolve a dispute over business opportunities to develop coal mines in an area of Carbon County, Montana known as the Bridger-Fromberg Bear Mountain project.

Current CEO David Walters explains how the agreement benefits Management Energy, Inc.: "By subleasing our Bolzer property to John Baugues, we are able to leverage his experience and industry connections in pursuing the Bridger-Fromberg Bear Mountain project. If Mr. Baugues is successful in financing and developing the project, we will receive a royalty on coal produced not only from the Bolzer property, but also from surrounding properties that become part of the project.

"In addition, the agreement also reduced the common shares outstanding by 32,500,000 shares. The Company's common shares outstanding currently totals 39,825,000," commented David Walters.

David Walters also stated, "In addition to the Bridger-Fromberg Bear Mountain Project, we are continuing to explore additional opportunities in other regions."

About Management Energy, Inc.

Management Energy, Inc., an exploration stage company, engages in the exploration, extraction, and distribution of coal. The Company trades under the symbol OTC BB: MMEX.OB.

Information About Forward-Looking Statements

This press release contains or incorporates by reference "forward looking statements" including certain information with respect to plans and strategies of Management Energy Inc. For this purpose, any statements contained herein or incorporated herein by references that are not statements of historical fact may be deemed forward looking statements. Without limiting the foregoing, the words "believes," "suggests," "anticipates," "plans," "expects," and similar expressions are intended to identify forward looking statements. There are a number of events or actual results of Management Energy operations that could differ materially from those indicated by such forward looking statements.

Contact Information

  • Contact Investor Relations:
    Matt Szot
    Chief Financial Officer
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