SOURCE: Mogul Energy International, Inc.

Mogul Energy International, Inc.

April 14, 2010 15:59 ET

Mogul Energy International, Inc. Announces New Board and Management Appointments and Its New Business Strategy

SEATTLE, WA--(Marketwire - April 14, 2010) -  Mogul Energy International, Inc. (OTCBB: MGUY) (FRANKFURT: BKX) announced it has appointed a new director, Mr. Gary Countryman, and as Executive Vice President, Mr. Tim Turner, effective April 14, 2010. New management will be leading a new direction in Mogul Energy business operations, utilizing their experience in implementing, promoting and developing new oil and gas technologies in addition to development and exploration operations.

Mr. Gary Countryman earned his B.S. and M.S. in Petroleum Engineering from the University of California and his S.M. Management from the Massachusetts Institute of Technology. Mr. Countryman has thirty years' experience in the oil and gas industry including Manager of Operations for Conoco, Inc. where he was employed for 26 years and more recently as a consulting petroleum engineer. Mr. Countryman has supervised due diligence and evaluation of oil and gas properties valued at over $200 million USD both for purchase and sale. He is also credited for reducing costs and increasing production on properties for Conoco, Inc. in Dubai, in Egypt for Geisum Oil Company and in the United States of America for Greenhill Petroleum.

Mr. Tim Turner received his undergraduate degree in Petroleum Land Management from the University of Texas at Austin in 1980. Prior to his appointment with Mogul Energy, Tim Turner was a Principal Partner of Tim Turner & Associates, LLC, an oil and gas exploration and production business development and land services company. Mr. Turner has twenty-nine years of varied experience in the oil and gas industry establishing and maintaining productive business relationships with partners; negotiating complex joint venture agreements; overseeing all business partner operations; negotiating legal agreements (involving acquisitions, title conflicts, eminent domain issues and the disposition of assets); and preparing long-range and short-term business plans, revenue forecasts, cost projections. Mr. Turner began his career with Exxon Company, USA in New Orleans, Louisiana. In his many supervisory positions, he supervised all land related negotiations on dozens of Exxon operated fields comprising of hundreds of wells and thousands of separate property files. Mr. Turner was a very active member of the American Association of Professional Landmen, having served on the Board for many years.

For further information on Mogul Energy International, Inc. new directors please visit the website for biography summary at www.mogulenergy.com.

Information concerning Mogul Energy International:

Mogul Energy is an oil and gas exploration company with headquarters 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.

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