Morumbi Oil and Gas Inc.
TSX VENTURE : MOC

November 25, 2010 16:06 ET

Morumbi Oil & Gas Inc. Extends the Expiry Date of Certain Outstanding Common Share Purchase Warrants For One Year

TORONTO, ONTARIO--(Marketwire - Nov. 25, 2010) - Morumbi Oil & Gas Inc. (TSX VENTURE:MOC) ("Morumbi" or the "Company") announces that the TSX Venture Exchange (the "Exchange") has consented to Morumbi's application to extend the expiry date of certain of its outstanding common share purchase warrants (the "Warrants"). Consent was given to extend the term of 4,838,330 Warrants with an exercise price of $0.40 per common share and due to expire on December 22, 2010 by one year to December 22, 2011. 

These Warrants were issued pursuant to a private placement of 4,838,330 shares with 4,838,330 share purchase warrants attached, which closed on December 22, 2010 and was accepted for filing by the Exchange effective December 29, 2009.

For further information on the original issuance of the Warrants, please refer to the press release of the Company dated December 23, 2009 filed on SEDAR.

Warrantholders are advised that replacement Warrant certificates will not be issued and that the original Warrant certificates must be presented to the Company in order to effect the exercise or transfer of such Warrants.

About Morumbi

Morumbi Oil & Gas Inc. is a newly traded public company with attractive near-term light oil exploitation opportunities in northwest Alberta. The Company trades on the TSX Venture Exchange under the symbol "MOC". For more information about Morumbi and the Company's McKinley Property and plans visit our website at www.morumbi.ca.

Disclaimer

Certain statements contained in this news release may contain forward-looking information within the meaning of Canadian securities laws. Such forward-looking information is identified by words such as "estimates", "intends", "expects", "believes","may", "will" and include, without limitation, statements regarding the company's plan of business operations (including plans for developing assets) and projected expenditures. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, commodity prices, risks inherent in the oil & gas industry, financing risks, labour risks, title disputes, regulatory risks, currency fluctuations, competition, unexpected decline rates in wells, changes in taxation or royalty regimes and environmental concerns. Most of these factors are outside the control of the company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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