Monarch Energy Limited
TSX VENTURE : MNL
FRANKFURT : EIY

Monarch Energy Limited

January 15, 2008 03:06 ET

Monarch Energy Limited: News Release

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 14, 2008) - Monoil (UK) Limited, a wholly owned UK subsidiary of Monarch Energy Limited (TSX VENTURE:MNL)(FRANKFURT:EIY) has been advised by Petro-Canada UK Limited, the Operator of the North Sea 15/18a-Maria project, that the Global SantaFe Arctic III semi-submersible rig is expected to commence drilling operations by January 20, 2008.

Monoil will pay 11.11% of the cost to drill and, if required, conduct DST operations to earn an 8.33% interest in Licence P 233, Block 15/18a. The Company has identified three additional prospects/leads in the block that require new 3D seismic to mature to drill ready status.

ON BEHALF OF THE BOARD

Michael Turko, President and CEO

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

Contact Information