Midnight Oil Exploration Ltd.
TSX : MOX

Midnight Oil Exploration Ltd.

June 09, 2009 17:41 ET

Midnight Oil Exploration Ltd. Increases and Extends Its Credit Facility and Presents at the CAPP 2009 Investment Symposium on June 16 & 17, 2009

CALGARY, ALBERTA--(Marketwire - June 9, 2009) - Midnight Oil Exploration Ltd. ("Midnight") (TSX:MOX)

Increase in Credit Facility

Midnight Oil Exploration Ltd. is pleased to announce that it has increased its credit facility to $35 million, a 25% increase from its existing line. The renewal extends the revolving feature of the facility until May 29, 2010 under the same terms and conditions of our existing agreement. Fred Woods, President and CEO of Midnight commented that "we are pleased that the Canadian Imperial Bank of Commerce continues to support our business and future growth. The renewal and increase of our credit facility is a reflection of their confidence in the quality of our asset base as well as the operating strength of Midnight."

Midnight Presents at CAPP

Midnight will be presenting at the Canadian Association of Petroleum Producers ("CAPP") 2009 Oil & Gas Investment Symposium taking place June 15 - 17, 2009 in Calgary, Alberta. Midnight will be presenting at CAPP on June 16th at 10:00 a.m. and again on June 17th at 2:20 p.m. The presentation will be webcast live at 10:00 a.m. Calgary time on June 16th and may be accessed at www.capp.ca. A copy of the presentation will also be available on Midnight's website at www.midnightoil.ca.

Advisory

Additional information on factors that could effect Midnight's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website at www.sedar.com. Furthermore, Midnight disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.

Midnight is a publicly listed junior oil and gas exploration and development company based in Calgary, Alberta. Midnight's shares trade on the TSX under the symbol "MOX". Midnight is focused on the tremendous natural gas potential of the Wapiti/Elmworth portion of the Deep Basin. Midnight holds over 100 sections of multi-layered tight gas resource potential of the Cadomin and Nikanassin stacked with the high impact conventional gas reservoirs of the Deep Basin.

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