Midnight Oil Exploration Ltd.

Midnight Oil Exploration Ltd.

June 11, 2008 18:10 ET

Midnight Oil Exploration Ltd. Presents at the CAPP 2008 Investment Symposium on June 17 & 18, 2008, Adds to Its Management Team and Adds to Its Resource Play Inventory of Sweet Gas Opportunities

CALGARY, ALBERTA--(Marketwire - June 11, 2008) - Midnight Oil Exploration Ltd. ("Midnight") (TSX:MOX) -

Midnight Presents at CAPP

Midnight Oil Exploration Ltd. is pleased to announce that Midnight will be presenting at the Canadian Association of Petroleum Producers ("CAPP") 2008 Oil & Gas Investment Symposiums taking place June 16 - 18, 2008 in Calgary, AB. Midnight will be presenting at CAPP on June 17th at 11:15 am and again on June 18th at 2:35 pm. This presentation will be webcast live at 11:15 am Calgary time on June 17th and may be accessed at http://events.onlinebroadcasting.com/capp/061608/index.php?page=launch. For more information please visit www.capp.ca. A copy of our current presentation is also available on Midnight's website at www.midnightoil.ca.

Management Addition

Mr. Bernie Dumanowski has been appointed Vice President, Drilling Operations of Midnight. Mr. Dumanowski comes to Midnight with extensive experience in the oil & gas industry and he will head our drilling and completion efforts. "We will continue to build our team and company with high end talent and develop our multi-zone prospect portfolio towards our objective of solid growth and increased shareholder value," stated Mr. Fred Woods.

Deep Basin Tight Gas Resource Play

In Q1, 2008 Midnight announced that it was increasing its focus on sweet natural gas opportunities in the Deep Basin while continuing to develop the Red Earth light oil property. To this end, Midnight has expanded building its land base and has acquired or has the rights to acquire an additional 16 net sections of undeveloped land in the Deep Basin. Midnight has now built its land inventory to over 50 (40 net) sections of land in the Deep Basin with working interests between 40% and 100%. Midnight professionals have a great deal of experience in targeting these prospective reservoirs. The Deep Basin tight gas resource plays offer a great platform for growth in production and reserves for Midnight.


Certain information set forth and referenced in this press release may constitute forward-looking statements under applicable securities laws. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Midnight's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, economic changes, the effects of weather, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The actual results, performance or achievement of Midnight could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Midnight will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other 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".

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