Monarch Energy Limited
TSX VENTURE : MNL
FRANKFURT : EIY

Monarch Energy Limited

January 29, 2008 03:17 ET

Monarch Spuds North Sea Quad 15/18a Maria Prospect

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 29, 2008) - Monoil (UK) Limited, a wholly owned UK subsidiary of Monarch Energy Limited (TSX VENTURE:MNL)(FRANKFURT:EIY) has been advised by Petro-Canada UK Limited, the Operator of the North Sea 15/18a-Maria project, that the Global SantaFe Arctic III semi-submersible rig has commenced drilling operations.

Monarch is paying 11.11% of the cost to drill and, if required, conduct DST operations to earn an 8.33% interest in Licence P 233, Block 15/18a. The Company has identified three additional prospects/leads in the block that require new 3D seismic to mature to drill ready status.

ON BEHALF OF THE BOARD

Michael Turko, President and CEO

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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