MGFX Monarch Gulf Exploration Inc New (CE)

Monarch Gulf Exploration, Inc. (Pink Sheets:MGFX), a Washington Corporation, today announced that it has entered into negotiations with Nomad Hydrocarbons LTD of Calgary, Alberta, an Alberta Corporation. Monarch has entered into negotiations with Nomad in pursuit of a mutual agreement in regards to Nomad's land interest and leases in the San Joaquin Basin in California. The San Joaquin Basin is a prolific oil producing area with a long history of production. The production is from shallow depths of 1000 to 3000 feet, and the oil is of low to medium gravity (13 to 22 degrees API). "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.