Magnum Energy Inc.

Magnum Energy Inc.

August 14, 2008 14:03 ET

Magnum Energy Initiates Operations in Calgary

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 14, 2008) - Magnum Energy Inc. (TSX VENTURE:MEN) is pleased to report that the company has opened its new office in Calgary, Alberta. This office, located at 550, 1010 1st Street S.W., will be Magnum's operational centre and will house the company's technical and accounting teams.

"We have made significant strides forward with the assets Magnum has acquired and are looking forward to a growth in revenues throughout the next 12 months," commented Richard Nemeth, V.P. Corporate Development. "The timing is right for us to commit to building out a strong in-house technical team that can take advantage of our recent drilling successes and utilize the cash flow to maximize existing asset potential through further re-completions and development drilling. This will also enable Magnum to evaluate other opportunities that may exist through further acquisitions or joint ventures."

Head Office
1280 - 333 Seymour Street
Vancouver, BC.
V6B 5A6
T: 604.669.3155
F: 604.669.3177

Suite 550, 1010 1st Street S.W.
Calgary, AB.
T2R 1K4
T: 403.264.5980
F: 403.261.8060

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

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