Morumbi Oil and Gas Inc.
TSX VENTURE : MOC

September 09, 2010 15:25 ET

Morumbi Preparing to Fracture Stimulate its New 12-33 Vertical Well on its McKinley, Alberta Light Oil Prospect

CALGARY, ALBERTA--(Marketwire - Sept. 9, 2010) - Morumbi Oil & Gas Inc. (TSX VENTURE:MOC) ("Morumbi" or the "Company") is pleased to announce that it is in the process of moving the necessary completion equipment to its 12-33 well site this weekend. Morumbi plans call for a 25 ton gel water fracture stimulation of our new 12-33 well that will begin shortly with the view to enhancing near well bore permeability. 

Offset geological log analysis of the nearby original 12-33 horizontal well located 8 metres away from our new 12-33 vertical well supports the expectation that the planned fracture stimulation of the 12-33 well should improve our near well bore contact with the high quality light oil Cadotte reservoir (the Cadotte D Pool). The Company estimates it has remaining recoverable reserves of 400,000 to 500,000 barrels. The up dip location of the new 12-33 well is well positioned to access the prolific Cadotte D Pool upon completion.

Subsequent to the fracture stimulation the Company will perform swabbing and testing operations to determine the productive capability of the well prior to tying the well into our 4-33 well site where we have emulsion pipelines that will enable the Company to access nearby crude oil processing facilities. Morumbi anticipates releasing the results of our upcoming operation towards the end of next week.

Morumbi has made available on its website (www.morumbi.ca) recently updated geological maps and an investor presentation outlining the prospects for our McKinley light oil prospect. The updated geological mapping reviews the results of the recently drilled new 12-33 vertical well and suggests that the Company is in a good position to access the prolific 37º API Mckinley Cadotte D pool from the most structurally high location penetrating the pool to date.

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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