SOURCE: Monogram Energy, Inc.

October 02, 2007 06:00 ET

Monogram Energy, Inc. Announces Acquisition of Mineral Rights

RICHMOND, TX--(Marketwire - October 2, 2007) - Monogram Energy, Inc. (PINKSHEETS: MGRA), an independent energy company engaged in the acquisition, development, and exploitation of oil and gas properties, is pleased to announce that the company has acquired the mineral rights to the Wright Lease located in the Corsicana, Texas area. The lease includes two workover wells and favorable prospects to add additional production wells.

Billy King, President and CEO of Monogram Energy, stated, "Our Workover Program is progressing ahead of schedule with the addition of these two wells and closing on a multiple of others in the near future the goal of fifty by years end is closer to reality." The Company is currently assessing more then 25 wells in the Corsicana area. This is in keeping with the company's intent to attain as much production as possible in the Corsicana area.

Mr. King continued, "As we continue to execute on our business plan and meet our goals I will reiterate our cumulative initial production numbers of 10,000 barrels of oil per month once all wells have completed the Workover Program and the revenue numbers have also increased with oil trading at all time highs."

Corsicana is located in Navarro County, Texas. The first commercial oil well west of the Mississippi was drilled in Corsicana in 1894. There are currently around 700 producing wells in Navarro County, and many of them have been producing for 40 years. The county produces around 600,000 barrels annually.

About Monogram Energy, Inc.:

Monogram Energy, Inc. is an independent energy company engaged in the acquisition, development, and exploitation of oil and gas properties. The Company specializes in acquiring oil & gas leases with proven reserves that have the potential for increased production. Our goal is to maintain a high risk/reward profile, thereby enabling us to return the most value to our shareholders.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward-looking matters discussed in this news release are subject to certain risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements including, but not limited to, the Company's liquidity and the ability to obtain financing, the timing of regulatory approvals, uncertainties related to corporate partners or third-parties, product liability, the dependence on third parties for manufacturing and marketing, patent risk, copyright risk, competition, and the early stage of products being marketed or under development, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

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