SOURCE: Mogul Energy International, Inc.

Mogul Energy International, Inc.

October 25, 2010 08:30 ET

Mogul Energy International, Inc. Announces the Appointment of Donald J. Timko and James G. Sorrells as Advisory Board Members

SEATTLE, WA--(Marketwire - October 25, 2010) -  Mogul Energy International, Inc. ("Mogul") (OTCBB: MGUY) (FRANKFURT: BKX) is pleased to announce Mr. Donald J. Timko and Mr. James G. Sorrells have joined Mogul as Advisory Board members, effective October 21, 2010.

Mr. Donald J. Timko has nearly 50 years experience in the petroleum industry. Mr. Don Timko graduated with a degree in geology from the University of Pittsburgh then worked for Continental Oil Company (now Conoco Phillips) where one of his main responsibilities was to design, develop and instruct well logging techniques to company engineers and geologists. He supervised the company's activities, both domestic and international, in the area of formation evaluation. After resigning from Conoco he formed a geological and engineering company, primarily involved with evaluation of domestic and foreign drilling prospects for major investors, which he continues to this day.

Over the years, Mr. Timko has been successfully associated as owner or co-owner of two domestic production companies, which have discovered and developed considerable oil and gas reserves along the upper Gulf Coast of Texas. He sold these interests, and now devotes his full time as a petroleum consultant, specializing in petrophysics.

Mr. Timko has been a faculty member of the University of Houston and has taught courses in "Bore Hole Geophysics" to graduate students, and has had a contract with SPE/AIME to teach short courses to petroleum engineers around the United States. Mr. Timko has served as president of the international "Society of Professional Well Log Analysts" and was elected to and served as a "Distinguished Lecturer" of the "Society of Petroleum Engineers". The lectures, presented worldwide, placed considerable emphasis on how to evaluate geothermal energy sources in high pressure and temperature environments from well log data.

He has published many technical papers on this subject over the years, including the Oil and Gas Journal, having most recently been published in the August, 2010 issue.

Mr. James G. (Jim) Sorrells obtained his Bachelors of Science degree from the University of Texas at Arlington in geology. His tenure includes a close working relationship with Don Timko since 1977 and has been an independent geologist since 2002. He is an experienced explorationist with more than thirty-three (33) years in prospect generation, development, reservoir geology, log analysis and pore pressure analysis. Mr. Sorrells has been associated with and has drilled and completed dozens of oil & gas wells, both onshore and offshore Texas and Louisiana, West Texas, East Texas, North Louisiana, and Oklahoma among other areas. He has many years of experience using application tools, such as Seismic Micro-Technology, Inc.'s Kingdom Suite software, Landmark, Geoquest, and Zmap software. 

Mr. Sorrells has performed well costs and economic analysis for prospective ventures. Mr. Sorrells is a member of several national and international organizations including American Association of Petroleum Geologists, Houston Geologists Society, and Society Of Professional Well Log Analysts.

Together with Mr. Timko, Mr. Sorrells published an article in the August 2010 Oil and Gas Journal, entitled 'Davy Jones: Can Geologists Predict Deeper Commercial Environments?'

Mr. Naeem Tyab, the Company's President, stated: "I am delighted that Mr. Masters and our existing management team have acquired the skills and talents of Mr. Timko and Mr. Sorrells. "Messrs. Timko and Sorrells bring to the company decades of experience in working the Texas Gulf Coast area. We are excited to have their hand in our exploration and production operations in this area." Mr. Tyab further states that "Mogul will continue to refine its geological and geophysical evaluations and reviews of the numerous prospects in the region and looks forward to a successful drilling program with these two experts at our side."

Information concerning Mogul Energy International, Inc.:

Mogul Energy International, Inc. ("Mogul") is an oil and gas exploration company with headquarters in Seattle, Washington. The common shares of Mogul are quoted on the OTC Bulletin Board (OTCBB) system under the symbol "MGUY," and the Frankfurt Stock Exchange ("FSE") under the symbol 'BKX'. Further information concerning Mogul can be found in the Company's filings with the U.S. Securities and Exchange Commission (http://www.sec.gov).

Forward-Looking Statements:

This news release contains "forward-looking statements" within the meaning of the securities laws, which are based on current expectations and beliefs, as well as on a number of assumptions concerning future events made with information that is currently available. Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Inherent in Mogul Energy International, Inc.'s ("Mogul") business plan is a belief that Mogul can successfully explore oil and gas properties in Canada and the United States, and that Mogul can participate in the development of those properties. Readers are cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside of Mogul's control, which could cause actual results to differ materially from such statements. For a more detailed description of the factors that could cause such a difference, please refer to Mogul Energy's filings with the U.S. Securities and Exchange Commission. Mogul assumes no obligation to update or supplement such forward-looking statements other than as required by law.

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