Contact Information: Contact Information: Company Contact Naeem Tyab Mogul Energy 206-357-4220 naeem@mogulenergy.com http://www.mogulenergy.com
Mogul Energy International, Inc. Appoints New Director and CFO
Mogul Energy Appoints William Smith as Director and CFO
| Source: Mogul Energy International, Inc.
SEATTLE, WA--(Marketwire - June 24, 2008) - Mogul Energy International, Inc. (OTCBB : MGUY )
(FRANKFURT : BKX ) (the "Company") announced today that, as part of the
Company's increasing focus on development of its oil and gas leases in
South East Saskatchewan, Canada, Mr. Robert Mussehl has resigned as
Director of the Company, effective June 18, 2008, and Mr. William Smith has
been appointed Director and Chief Financial Officer (CFO).
Mr. Smith has over 33 years of financial and accounting experience in a
variety of senior accounting and management positions. He has held the CMA
designation since 1991.
The Company welcomes Mr. Smith and expresses its gratitude to departing Mr.
Mussehl for his years of loyal service as a director.
Information concerning Mogul Energy International:
Mogul Energy is an oil and gas exploration company with headquarters in
Seattle, Washington. Mogul Energy has acquired a portfolio of oil and gas
leases in South East Saskatchewan, Canada. The Company has a 100% interest
in sixty-eight (68) separate freehold oil and gas exploration leases on
approximately 9,300 acres situated in South East Saskatchewan.
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 'BKX'. 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, including, but
not limited to, the Company's ability to negotiate, enter into, perform and
consummate the business combination described in this release. Inherent in
the Company's business plan is a belief that Mogul Energy can successfully
explore oil and gas properties in Egypt and Canada, 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.