MGFX Monarch Gulf Exploration Inc New (CE)

Monarch Gulf Exploration, Inc. (PINK SHEETS:MGFX) (�MGFX�) announced that effective today, it has engaged the services of ForeRunner Financial (�ForeRunner�) whereby ForeRunner will serve as MGFX�s investment banker to assist MGFX in the analysis and selection of various financing and capital raising options to support its plans for operation, growth, and expansion in 2007. ForeRunner is a trade name used by select representatives of Securities Network LLC, member NASD/SIPC, out of Norcross, Georgia. Bob Jorgensen,�Monarch CEO, commented, "The engagement of ForeRunner Financial is a significant step forward for�our company.�They understand our growth model and have significant expertise in the formation of capital for companies like ourselves in this industry." Monarch Gulf Exploration engages in the acquisition, exploration, production, and development of oil and natural gas properties. MGFX's current expansion activities are focused on three key plays, the San Joaquin Basin, California; Texas; and Louisiana. Statements that are not historical facts such as increases in proved reserves, value and growth, the duration of recoverable reserves and the future performance of management are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our goals will be achieved. Important factors that could cause our actual results to differ materially from those included in the forward-looking statements include the timing and extent of changes in commodity prices for oil and gas, drilling and operating risks, the availability of drilling rigs, uncertainties about the estimates of reserves, the availability of transportation pipelines, changes in laws or government regulations, unforeseen engineering and mechanical or technological difficulties in drilling the wells, operating hazards, weather related delays, the loss of existing credit facilities, availability of capital, and other risks more fully described in our filings with the U.S. Securities and Exchange Commission. All forward-looking statements contained in this release, including any forecasts and estimates, are based on management's outlook only as of the date of this release and we undertake no obligation to update or revise these forward-looking statements, whether as a result of subsequent developments or any other cause.