Monarch Energy Limited
TSX VENTURE : MNL
FRANKFURT : EIY

Monarch Energy Limited

January 10, 2008 13:41 ET

Monarch Energy Limited: Update on Petro-Canada Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 10, 2008) - Monoil (UK) Limited, a wholly owned UK subsidiary of Monarch Energy Limited (TSX VENTURE:MNL)(FRANKFURT:EIY), will participate in the drilling of a well in UKCS License P233, Block 15/18a to test the 'Maria' prospect. The well, to be operated by Petro-Canada UK Limited, will be drilled with the Global SantaFe Arctic III semi-submersible rig with operations due to commence in early February 2008. Monoil will pay 11.11% of the cost to drill and, if required, conduct DST operations to earn an 8.33% interest in License P233, Block 15/18a. The Company has identified three additional prospects / leads in the block that require new 3D seismic to mature to a 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.

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