NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.


Mooncor Oil & Gas Corp. ("Mooncor") (TSX VENTURE:MOO) today announced that it
has engaged Dundee Securities Ltd. to act as lead agent, and including PowerOne
Capital Markets Limited, on a reasonable commercial efforts basis, in connection
with a proposed private placement of up to $5 million through the issuance of
common share units ("Units") and "flow-through" units ("FT Units") at a price of
$0.13 per Unit and $0.14 per FT Unit. Each Unit is to consist of one common
share in the capital of Mooncor (a "Common Share") and one common share purchase
warrant (a "Warrant") of Mooncor. Each FT Unit is to consist of one flow-through
common share of Mooncor (a "FT Share") and one-half of one Warrant. Each FT
Share will qualify as a "flow-through share" for the purposes of the Income Tax
Act (Canada). Each whole Warrant shall entitle the holder thereof to acquire one
Common Share at an exercise price of $0.20 per Common Share for a period of 24
months following the closing of the financing. All securities issued pursuant to
the financing will be subject to a four-month hold period. Mooncor anticipates
closing shortly, subject to the receipt of all necessary regulatory approvals.


The net proceeds will be used by Mooncor for exploration on its Muskwa/Duvernay
shale gas play at Hamburg, Alberta and working capital.


Business of Mooncor Oil & Gas Corp.

Mooncor Oil & Gas Corp. is a junior oil and gas exploration and development
company focusing on shale gas opportunities. Mooncor's current emphasis is on
securing a joint venture partner for its proven Muskwa/Duvernay shale gas
project at Hamburg, Alberta. It is also pursuing opportunities to realize
near-term value from its southwest Ontario assets, potentially through a
spin-off into a new entity.


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.


This press release does not constitute and the subject matter hereof is not, an
offer for sale or a solicitation of an offer to buy, in the United States or to
any "U.S Person" (as such term is defined in Regulation S under the U.S.
Securities Act of 1933, as amended (the "1933 Act")) of any equity or other
securities of Mooncor. The securities of Mooncor have not been registered under
the 1933 Act and may not be offered or sold in the United States (or to a U.S.
Person) absent registration under the 1933 Act or an applicable exemption from
the registration requirements of the 1933 Act.
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