SOURCE: Mogul Energy International Inc.

Mogul Energy International Inc.

February 24, 2010 13:18 ET

Mogul Energy International, Inc. Announces the Appointment of Mr. Henry Kloepper as a Director

SEATTLE, WA--(Marketwire - February 24, 2010) - Mogul Energy International, Inc. (OTCBB: MGUY) (FRANKFURT: BKX) announced it has appointed as a director, Mr. Henry J. Kloepper effective February 22, 2010. Mr. Kloepper's appointment fills the vacancy created by the earlier resignation of Mr. Ernie Pratte on October 5, 2009. Mr. Kloepper has been involved in investment banking and structured finance over a thirty year career. He brings a well-rounded knowledge of the financial markets and strategic growth and investments.

In the past Mr. Kloepper has worked in senior executive positions with J.P. Morgan, Citibank Canada, North American Trust (now Laurentian Bank) and Security Pacific Bank (now Bank of America) in Canada, the US and in Europe.

Mr. Kloepper is a director and consultant to companies in the resource sector and airline industry. His responsibilities have varied from being an audit committee member to being the president & CEO of a company in the food and beverage industry.

Information concerning Mogul Energy International:

Mogul Energy is an oil and gas exploration company with headquarters in Seattle, Washington.

The common shares of Mogul Energy are quoted on the OTC Bulletin Board (OTCBB) system under the symbol "MGUY," and the Frankfurt Stock Exchange ("FSE") under the symbol "BKK." Further information concerning Mogul Energy 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 the Company's business plan is a belief that Mogul Energy can successfully explore oil and gas properties in Canada and the United States, and that the Company 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 Energy'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 Energy International, Inc. assumes no obligation to update or supplement such forward-looking statements other than as required by law.

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