Morgan Creek Energy Corp.
Morgan Creek Energy To Expedite Lease Program Over Entire Ouachita Oil And Gas Target In Texas
Corporate news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Morgan Creek Energy To Expedite Lease Program Over Entire Ouachita Oil And
Gas Target In Texas
Dallas, Texas, USA. November 10, 2006. Morgan Creek Energy Corp. (OTCBB:
MCRE, Frankfurt, Berlin: M6C) (the ‘Company’), today announced that
management intends to accelerate and expand its leasing and acquisition
program on the targeted areas that form the Company’s Ouachita (Wash-A-Taw)
gas and oil exploration program in central Texas. The expedited leasing
initiative is designed to enlist the resources of senior oil and gas E&P
companies that can participate in developing the entire scope of potential
gas and oil resources in the Ouachita Trend along with Morgan Creek Energy.
The Company has identified seven separate potential areas of exploration
interest and is already leasing on the first of these targets. An area of
7,000 to 10,000 gross mineral acres in the selected target region forms the
first Ouachita gas exploration area.
Company geologist Thomas Markham, who oversees the program states, ‘The
potential resource in the Ouachita is believed to be large enough that a
company in our position would ideally enlist the resources of one or
several large oil and gas companies as early as possible. We are now
actively pursuing this strategy that can not only accelerate development,
but also ensure that Morgan Creek Energy retains the opportunity to be
first-in on potential production and future development.’
As announced by the Company on November 2, 2006, Morgan Creek Energy has
initiated the process of permitting a twin well for drilling on a key lease
in central Texas where the Company intends to drill a single well to twin
the historical well drilled pre-1923 on the property. If proven successful,
gas shows in the target formations would help validate Morgan Creek
Energy’s precept that this property and the Company’s other unique targeted
areas in the Ouachita Trend hold the potential for significant untapped gas
production.
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: 214-321-0603 Fax: 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 10.11.2006
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