Midnight Oil Exploration Ltd.
TSX : MOX

Midnight Oil Exploration Ltd.

March 18, 2009 19:11 ET

Midnight Oil Exploration Ltd. Files 2008 Year End Disclosure Documents

CALGARY, ALBERTA--(Marketwire - March 18, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.

Midnight Oil Exploration Ltd. ("Midnight") (TSX:MOX) today is pleased to announce that it has filed with Canadian securities regulatory authorities on SEDAR its audited Consolidated Financial Statements for the year ended December 31, 2008 and the related Management's Discussion and Analysis ("MD&A") and its Annual Information Form ("AIF"), including disclosure and reports relating to reserves data and other oil and gas information pursuant to National Instrument 51-101 Standards of Disclosure of Oil and Gas Activities. An electronic copy of any of these documents may be obtained on SEDAR at www.sedar.com and on Midnight's website at www.midnightoil.ca.

Midnight is a Calgary, Alberta based junior energy company primarily focused on natural gas exploration, development and production in the Deep Basin portion of northwest Alberta. Common shares of Midnight are listed on the Toronto Stock Exchange under the symbol MOX.

Forward Looking Statements - Certain statements contained within documents incorporated by reference in this press release contain forward looking statements. These statements relate to future events or our future performance. All statements other than statements of historical fact may be forward looking statements. We believe the expectations reflected in those forward looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward looking statements incorporated by reference should not be unduly relied upon. The projections, estimates and beliefs contained in such forward looking statements are based on management's estimates, opinions and assumptions at the time the statements were made including assumption relating to economic conditions, industry conditions, the production performance of Midnight's oil and gas assets, commodity prices and exchange rates, the cost and competition for services throughout the oil and gas industry, interest rates and the continuation of the current regulatory and tax regime in Canada, and necessarily involve known and unknown risks and uncertainties which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward looking statements, including those material risks discussed in Midnight's Annual Information Form under "Risk Factors" and in Midnight's MD&A under "Risk Factors." Accordingly, readers are cautioned that events or circumstance could cause results to differ materially from those predicted. The forward looking statements contained in the documents incorporated by reference herein are expressly qualified by this cautionary statement. The forward looking statements contained in this document speak only as of the date of this document and Midnight does not assume any obligation to publicly update or revise them to reflect new events or circumstances, except as may be required pursuant to applicable securities laws.

Boe: Barrels of oil equivalent (boe) may be misleading, particularly if used in isolation. In accordance with NI 51-101, a boe conversion ratio for natural gas of 6 mcf:1 bbl has been used, which is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

The TSX has neither approved nor disapproved the contents of this press release.

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