MOO Moon River Capital Ltd

Mooncor Oil & Gas Corp. ("Mooncor") (TSX VENTURE:MOO) announces financial and
operating results for its financial year ended December 31, 2011. The full text
of Mooncor's audited financial statements, the notes thereto and related
management discussion and analysis can be accessed electronically from the SEDAR
system at www.sedar.com. 


Corporate Update

In January 2012, Mooncor had entered into a farmout agreement (the "Agreement")
with a private Alberta based company (the "Farmee") covering its Hamburg
liquids-rich natural gas project located in northwest Alberta (the "Hamburg
Lands"). The Agreement was conditional on the Farmee demonstrating dedicated
funds to a minimum of $16.5 million by April 30, 2011 in order to meet its
obligations pursuant to the Agreement. The Farmee has advised that it has been
unable to secure the required funding and as a result have terminated the
Agreement. The parties shall have no further obligations or liabilities to each
other. Mooncor plans to continue to seek other options with respect to the
Hamburg Lands.


As a result of the above, Mooncor is continuing to negotiate with the holders of
the two convertible debentures, with a view to extending their expiry. The
debentures matured on December 31, 2011 and each has $510,719 in principal
outstanding. The debenture holders had agreed to extend the expiry of the
debentures to March 31, 2013, contingent on closing of the Agreement.


Business of Mooncor Oil & Gas Corp.

Mooncor Oil & Gas Corp. is a junior oil and gas exploration company. Mooncor's
current emphasis is on securing a joint venture partner for its proven
Muskwa/Duvernay liquids rich shale gas project at Hamburg, Alberta. Mooncor also
holds interests in lands in southwest Ontario where the focus has been on
conventional oil and gas opportunities. Mooncor is pursuing opportunities to
realize near-term value from its southwest Ontario assets.


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.

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