Morgan Creek Energy Corp.
Morgan Creek Energy Corp. LAUNCHES WIDE SCALE LEASING PROGRAM OVER THE FIRST OF SEVEN POTENTIAL MAJOR GAS TARGETS IN THE OUACHITA TREND, TEXAS
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The issuer is solely responsible for the content of this announcement.
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MORGAN CREEK ENERGY CORP. OTCBB Symbol – MCRE
Frankfurt/Berlin Symbol – M6C
WKN: AØJL4C, ISIN: US61732R1Ø77
MORGAN CREEK ENERGY LAUNCHES WIDE SCALE LEASING PROGRAM OVER THE FIRST OF
SEVEN POTENTIAL MAJOR GAS TARGETS IN THE OUACHITA TREND, TEXAS
Dallas, Texas – October 18, 2006 – Morgan Creek Energy Corp. (OTCBB: MCRE,
Frankfurt, Berlin: M6C) (the “Company”), has initiated a comprehensive
leasing program in the State of Texas as the first stage of its detailed
Ouachita (pronounced Wash-A-Taw) gas exploration program.
Through the efforts of its geology and land team, Morgan Creek Energy has
identified seven separate potential areas of exploration interest and is
now carrying out wide scale leasing on the first of these targets. The
Company intends to secure all immediate rights relating to oil and gas in
the areas providing control over any potential major structural play that
develops as a result of this in depth exploration.
Eleven hundred gross mineral acres are currently being acquired in the
first of seven areas on targets developed under the supervision of the
Company’s Senior Geologist, Thomas Markham.
Mr. Markham has successfully drilled and completed proprietary prospects
(while providing the supervision of seismic, leasing, drilling, completion,
and production activities) of 88 oil and gas wells (to 10,500’) in Texas,
New Mexico, and Oklahoma. He was the generating geologist of a 5 TCFG
overthrust play in Central Texas, he finalized a New Mexico San Andres
stratigraphic play (50 to 100 MMBO at 4,000’) and a Permian Basin Devonian
structural play he managed the screening and evaluation of Springer – Atoka
sub-basin prospects of the Anadarko Basin (3-D).
Mr. Markham is highly familiar with gas and oil structures in the Ouachita,
having studied the anomalies in the region and the underlying structures
since writing his masters thesis on the subject. The land team working with
Markham will use this extensive, proprietary knowledge to help guide
exploration and lease targets.
A total of 9,000 to 10,000 gross mineral acres in the targeted area form
part of the first Ouachita gas exploration leasing initiative.
The Ouachita Trend leasing program is a new addition to the Company’s
existing projects that include Little Cedar Creek in Alabama, the Chocktaw
Prospect in Louisiana, Barnett Shale interests in Texas, and several
undisclosed initiatives in the planning and development stages.
About Morgan Creek Energy Corp.: Morgan Creek Energy Corp. is a natural
resource exploration company engaged in the acquisition and development of
oil and natural gas properties worldwide. For further information see:
www.morgancreekenergy.com
Contact North America: Investor Relations, Morgan Creek Energy Corp.
Phone: +1 214-321-0603 Fax: +1 866-559-7565
e-mail: info@morgancreekenergy.com
Contact Europe: International Market Trend AG
Phone: +41 43 888 67 00 Fax: +41 43 888 67 09
Stock Exchange Information: Symbol: OTCBB – MCRE
Frankfurt/Berlin Symbol – M6C, WKN: WKN: AØJL4C, ISIN: US61732R1Ø77
SAFE HARBOR STATEMENT
THIS NEWS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS”, AS THAT TERM IS
DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF
1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY
HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS
REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED
IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO
CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER
MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED
OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS,
INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE
SUCH WORDS AS “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” “PLAN” OR “EXPECT” OR
SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES
FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH
PROPERTY DEVELOPMENT AND FUNDING AS WELL AS THE RISKS SHOWN IN THE
COMPANY’S MOST RECENT ANNUAL REPORT ON FORM 10-KSB AND ON FORM 10-QSB AND
FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE
COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL
PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE
COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT
ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY’S DEVELOPMENT
EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL
SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS
NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE
FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS
COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS.
ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND
INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO
ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE
ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN
AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY’S
PERIODIC REPORTS FILED FROM TIME-TO-TIME WITH THE UNITED STATES SECURITIES
AND EXCHANGE COMMISSION.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES
FULL RESPONSIBILITY FOR ITS CONTENTS. EACH OF THE NASD, THE SEC AND THE
OTCBB NEITHER APPROVES NOR DISAPPROVES OF THE CONTENTS OF THIS NEWS
RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE
SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE
SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE
WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE
SECURITIES LAWS OF ANY SUCH JURISDICTION.
(c)DGAP 18.10.2006
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