Magnum Energy Inc.

Magnum Energy Inc.

November 21, 2007 18:06 ET

Magnum Completes Drilling of Test Well

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 21, 2007) - (TSX VENTURE:MEN): Magnum Energy Inc. (the "Company") is pleased to announce that the drilling of the Cardium farm-in test well, previously announced on November 16, 2007, has reached total depth.

The operator has advised that they have completed the casing of the well on November 21, 2007. The operator is now preparing to complete and evaluate the target zone for production.

The Company anticipates that the completion of the well will take approximately 7 days.

Magnum Energy Inc.

Magnum Energy Inc. is a junior oil and gas exploration company operating in the Western Canadian Sedimentary Basin. The company is headed by Ted Konyi, CEO who has had extensive experience in the financing of oil and gas projects in Western Canada. The company has established an initial core area in South Eastern Alberta which it believes will produce significant cash flow for the company upon completion of a comprehensive drilling program.

The TSX Venture Exchange has neither approved or disapproved the contents of this press release.

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