MGFX Monarch Gulf Exploration Inc New (CE)

Monarch Gulf Exploration, Inc., (Pink Sheets:MGFX) today announced it has entered into an agreement with Golden Sandstorm, LLC., to acquire and explore approximately 2000 acres in West Texas. The locations of the leases are primarily in a very prolific oil producing area in Young County, Texas. The properties consist of areas with multiple targets and formations including the Gunsite, Thomas, Strawn, Caddo, Conglomerate, Marble Falls, Barnett Shale, and the Mississippi. The depths of the formations range from approximately 700 to 4800 feet. Included in the leases, within the Gunsite formation at 700 feet, are 15 stripper wells that Monarch intends to rework to enhance current production. R.E. �Bob� Jorgensen, CEO of Monarch is quoted as stating �With multiple formations at relatively shallow depths, this project offers Monarch multiple targets on each individual well drilled to the deeper formations.� Under the agreement Monarch would have a 90% working interest, and Golden Sandstorm, LLC will have a carried 10% interest, subject to a 75% NRI. In addition, Golden Sandstorm, LLC., will be the operator of the project. �Safe Harbor� Statement under Private Securities Litigation Reform Act of 1995: Certain statements contained herein constitute �forward-looking statements� within the meaning of the Private Securities Litigation Reform Act of 1995. Information contained herein contains �forward-looking statements� which can be identified by the use of forward-looking terminology such as �believe," �expect," �may," �should," �up to," �approximately," �likely," or �anticipates� or the negative thereof or given that the future results covered by such forward looking statements will be achieved. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.