Maskal Energy Inc.
TSX VENTURE : MSK

January 26, 2007 13:25 ET

Maskal Energy -Corporate Update

CALGARY, ALBERTA--(CCNMatthews - Jan. 26, 2007) -

NOT INTENDED FOR DISSEMINATION IN THE UNITED STATES

Maskal Energy Inc. (TSX VENTURE:MSK) ("Maskal" or the "Corporation") is pleased to announce that the first phase of the development capital program, as previously announced, has been completed.

At the Corporation's existing producing property near Sinclair, Manitoba, a 100% working interest well was drilled and cased for potential Bakken and Tilston oil. The well was completed with a fracture stimulation in the Bakken and is currently being evaluated.

A second well, near Sinclair, Manitoba, was drilled on farm-in lands. The arrangement is to earn 60% by spending 100% of the drilling and completion costs. This well was cased for potential Bakken and Tilston production. The completion operation is pending. Up to 6 quarter sections of land may be earned with continued drilling.

At Siler, Alberta, the Corporation participated in the drilling of a shallow gas well. This 25% working interest well was cased for potential Grand Rapids gas production. There is an existing gas infrastructure system in near proximity to pipeline into. This well awaits completion and evaluation.

The Corporation intends to further develop these prospects by seismic evaluation and follow-up drilling. As well, Maskal continues to evaluate farm-in prospects and to participate in upcoming land sales.

The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this release.

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