SOURCE: Monogram Energy, Inc.

August 29, 2007 16:05 ET

Monogram Energy, Inc. Enters Talks to Acquire Leases in Corsicana, Texas

RICHMOND, TX--(Marketwire - August 29, 2007) - Monogram Energy, Inc. (PINKSHEETS: MGRA), an independent energy company engaged in the acquisition, development, and exploitation of oil and gas properties, announced today that the Company has entered into talks to acquire two oil leases near Corsicana, Texas.

The leases currently have (4) four producing wells and (3) three non-producing wells. The Company plans to work over all the wells with the intention of increasing production. Billy D. King, President and CEO of Monogram Energy, stated, "Monogram Energy intends to aggressively pursue leases in the Corsicana, Texas area. These acquisitions fit nicely within the model as specified in the first section of our business plan."

Corsicana is located in Navarro County, Texas. The first commercial oil well west of the Mississippi was drilled in Corsicana in 1894. There are currently around 700 producing wells in Navarro County, and many of them have been producing for 40 years. The county produces around 600,000 barrels annually.

About Monogram Energy, Inc.:

Monogram Energy, Inc. is an independent energy company engaged in the acquisition, development, and exploitation of oil and gas properties. The Company specializes in acquiring oil & gas leases with proven reserves that have the potential for increased production. Our goal is to maintain a high risk/reward profile, thereby enabling us to return the most value to our shareholders.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward-looking matters discussed in this news release are subject to certain risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements including, but not limited to, the Company's liquidity and the ability to obtain financing, the timing of regulatory approvals, uncertainties related to corporate partners or third-parties, product liability, the dependence on third parties for manufacturing and marketing, patent risk, copyright risk, competition, and the early stage of products being marketed or under development, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

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