SOURCE: Monogram Energy, Inc.

June 24, 2008 09:45 ET

Monogram Energy Inc. -- Shareholder Update

RICHMOND, TX--(Marketwire - June 24, 2008) - Monogram Energy, Inc. (PINKSHEETS: MGRN), an independent energy company engaged in the acquisition, development, and exploitation of oil and gas properties, wishes to congratulate its shareholders for the confidence they have shown in a small, but growing company. Monogram has just received payment on its first sale of oil from the T.W. Martin lease in Navarro County, Texas. The oil produced is sold to Plains Marketing, LP, a national concern specializing in the transportation, storage and marketing of crude oil, with its home office located in Houston, Texas.

Mr. Billy King, Chief Executive Officer of Monogram Energy, Inc., stated, "It's very rewarding to finally reap some benefits from our efforts. We really do thank our shareholders for hanging in there with us."

Mr. King became interested in the production of oil & gas during his ten years of employment as an attorney for the Halliburton Company, and with his representation of independent oil companies during his years as a private practitioner. Monogram Energy's goal is to maintain a high risk/reward profile, thereby enabling it to return the most value to its shareholders.

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.

Billy D. King, the Chairman & CEO, is a graduate of St. Mary's University School of Law, and has been in the field of oil & gas law in excess of thirty years.

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.

Additionally, this release may not be considered as legal, accounting, or investment advice, and is not, and may not be considered, a solicitation for the purchase of any securities issued by Monogram Energy, Inc.

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