Calgary, Alberta – Mooncor Oil & Gas Corp. (“Mooncor”) is pleased to announce that it has received approval of its Caribou Management Plan as submitted for the 2009/2010 season in the Hamburg area. Receipt of this approval provides the opportunity to undertake additional work on its Muskwa shale gas project this upcoming season.

The Hamburg data room remains open and the process undertaken by Mooncor and managed by its advisor, Macquarie Tristone (the acquisitions and divestitures business of Macquarie Capital Markets Canada Ltd.), in respect to a potential transaction for Mooncor’s interests in its Muskwa shale gas play at Hamburg, Alberta continues with new interest being received from additional prospective parties.  This transaction may involve the farm-out, sale and/or other similar transaction of all or any portion of Mooncor’s 100% interest in the 162 sections of P&NG rights.

Business of Mooncor Oil & Gas Corp.

Mooncor Oil & Gas Corp. is a junior oil and gas exploration and development company. Mooncor is focusing on its shale gas opportunities with a current emphasis on its high impact proven Muskwa shale gas play at Hamburg, Alberta.

For more information please contact:

Richard Cohen                                                                      Jason Monaco

Vice-President (Corporate Development)                        First Canadian Capital Corp.

Mooncor Oil & Gas Corp.                                                   Tel: (416) 742-5600

Tel: (905) 882-4422                                                               jmonaco@firstcanadiancapital.com

rcohen@mooncor.com

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although Mooncor believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, Mooncor disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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