Maskal Energy Inc.
TSX VENTURE : MSK

August 09, 2007 16:46 ET

Maskal Energy-Corporate Update

CALGARY, ALBERTA--(Marketwire - Aug. 9, 2007) -

NOT INTENDED FOR DISSEMINATION IN THE UNITED STATES

Maskal Energy Inc. (TSX VENTURE:MSK) ("Maskal" or the "Corporation") announces that, further to its news release of May 29, 2007, its shareholders approved of the consolidation of its issued and outstanding common shares on a 4 old for 1 new basis. In connection with the share consolidation, the shareholders also passed a special resolution approving a change of the name of the Corporation from "Maskal Energy Inc." to "Maskal Energy Ltd."

There are currently 15,833,250 issued and outstanding common shares. This number will be reduced to 3,958,312 immediately following the consolidation, which is anticipated to occur after the markets close on August 10, 2007. The consolidated common shares are expected to recommence trading under the new stock symbol, "MMK" on August 13, 2007.

The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this release.

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