MOO Moon River Capital Ltd

Mooncor Oil & Gas Corp. ("Mooncor") (TSX VENTURE:MOO) and Birch Lake Energy Inc.
("Birch Lake") (TSX VENTURE:BLK) are pleased to announce that they have entered
into a non-binding letter agreement (the "LOI") for the arm's length acquisition
by Mooncor of 100% of the common shares of Birch Lake Energy Inc. ("Birch Lake")
(TSX VENTURE:BLK). Pursuant to the terms of the LOI, the acquisition is subject
to completion of certain conditions precedent, including, satisfactory due
diligence, execution of a definitive agreement and receipt of all necessary
director, shareholder, regulatory and TSX Venture Exchange approvals. 


Pursuant to the LOI, Mooncor and Birch Lake have agreed to combine their
businesses and the parties anticipate completing the acquisition by means of a
triangular amalgamation (the "Amalgamation"). The Amalgamation will effectively
provide for the acquisition of all of the outstanding equity interests of Birch
Lake by Mooncor, indirectly through a wholly-owned Alberta incorporated
subsidiary of Mooncor (the "Amalgamation Entity") in a transaction in which the
shareholders of Birch Lake will receive shares of Mooncor (the "Mooncor Shares")
and, if applicable, convertible securities of Mooncor. As a result of the
Amalgamation of Amalgamation Entity and Birch Lake (the "Amalgamated
Corporation"), Mooncor will become the sole beneficial owner of all of the
outstanding shares of Amalgamated Corporation. The exchange ratio for the
exchange of securities of Birch Lake will be 1:1.


The Amalgamation is an arm's length transaction and therefore is not a related
party transaction pursuant to Multilateral Instrument 61-101. As a result, no
meeting of Mooncor shareholders is expected to be required as a condition to
completion of the Amalgamation.


As at the date hereof, the Amalgamation would result in Mooncor issuing an
aggregate of 58,180,383 Mooncor Shares to the shareholders of Birch Lake, and
convertible securities at $0.18 per share exercisable for an additional
3,525,000 Mooncor Shares. Following the completion of the Amalgamation,
208,114,903 Mooncor Shares would be outstanding and 16,367,242 Mooncor Shares
would be reserved for issuance. On closing, current Mooncor shareholders would
hold approximately 72.04% of the Mooncor Shares and former Birch Lake
shareholders would own approximately 27.96% of the Mooncor Shares.


Birch Lake is junior oil and gas company engaged in the exploration for and the
acquisition, development and production of oil and natural gas reserves. Birch
Lake's main asset is a light oil play on 8.125 sections (5,200 acres) (3.067 net
sections (1,963 net acres)) on the Lochend Cardium trend in Alberta (0.6 net
sections (384 net acres) of which are set to expire on April 30, 2014).
Additional information about Birch Lake and its properties and business is
available on SEDAR (www.sedar.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 each of Mooncor and Birch Lake believe 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, each of Mooncor and Birch Lake disclaim 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Mooncor Oil & Gas Corp.
Allen Lone
Chief Executive Officer
(905) 330-0611
atlone@marconintl.com


Birch Lake Energy Inc.
William H. Petrie
President and Chief Executive Officer
(403) 457-1944
whpetrie@birchlakeenergy.com

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