Magnum Energy Inc.

Magnum Energy Inc.

October 19, 2010 10:20 ET

Magnum Energy Inc. Retains Boardmarker Group to Provide Investor Relations

CALGARY, ALBERTA--(Marketwire - Oct. 19, 2010) - Magnum Energy Inc. (The "Company" or "Magnum") (TSX VENTURE:MEN) is pleased to announce the engagement of Dean Stuart of Boardmarker Group to provide investor relations services.

Mr. Stuart is a Calgary-based investor relations individual who has been providing investor relations activities for over 10 years to a number of Toronto Stock Exchange and TSX Venture Exchange listed companies. Mr. Stuart will assist the Company in the preparation of investor documents, provide introductions to investment groups and individuals, and create and maintain an effective communication strategy for interested parties.

Mr. Stuart holds a B.A. (economics) from the University of Calgary and was previously employed by the Alberta Stock Exchange in the market surveillance department.

Mr. Stuart will receive a fee of $7,500 per month plus the grant of 300,000 stock options at the current market price vesting according to TSX Venture Exchange Policy. The term of the contract is one year subject to a review after the first three months of the contract. Boardmarker Group and Dean Stuart are at arm's-length to Magnum and do not own any securities in Magnum.

This agreement is subject to TSX Venture Exchange approval.

About Magnum Energy Inc.

Magnum is a junior oil and gas producer with operations located in the Western Canadian Sedimentary Basin. The Company produces from operations in Alberta, and maintains 100% ownership of the Sedalia gas facility in East-Central Alberta.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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