Mooncor Oil & Gas Corp.

Mooncor Oil & Gas Corp.

November 05, 2007 17:09 ET

Mooncor Extends Warrant Expiration Dates

CALGARY, ALBERTA--(Marketwire - Nov. 5, 2007) - Mooncor Oil & Gas Corp. (the "Corporation") (TSX VENTURE:MOO) announced today that it has obtained approval from the TSX Venture Exchange to extend the expiry dates of the common share purchase warrants exercisable at $0.83 per share, issued by the Corporation's subsidiary, Mooncor Energy Inc. ("Mooncor Energy"), prior to its reverse take-over transaction with the Corporation, in its June 28, 2006, December 21, 2006 and February 13, 2007 private placement financings.

Accordingly, the December 20, 2007 expiry date of the (i) 240,001 warrants issued by Mooncor Energy on June 28, 2006 is extended to June 28, 2008, (ii) 812,110 warrants issued by Mooncor Energy on December 21, 2006 is extended to December 21, 2008, and (iii) 64,001 warrants issued by Mooncor Energy on February 13, 2007 is extended to February 13, 2009.

Each warrant entitles the holder to purchase one common share in the capital of the Corporation ("Common Share"). The exercise price of these warrants remains unchanged at $0.83.

The total number of warrants being affected by this extension is 1,116,112 out of 20,328,676 currently outstanding.

Business of Mooncor Oil and Gas Corp.

The Corporation is a junior oil and gas exploration and production company based in Calgary, Alberta. The Corporation plans to specialize in the exploration and development of unconventional gas projects most particularly in the Colorado shales in western Canada. The Corporation also has a CBM project in Alberta and two conventional oil and gas projects in Alberta. The Corporation has drilled 9 wells to date and The Corporation's assets consist of rights to earn working interests in the Corporation's five separate properties consisting of 263,511 gross acres (126,625 net acres) of petroleum and natural gas Crown leases in Alberta and Saskatchewan.

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

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