Hamburg Acreage Estimated at 10.57 TCF Original Gas-In-Place

Mooncor has received National Instrument 51-101 compliant reports from its independent qualified reserves evaluator, DeGolyer and MacNaughton Canada Limited, related to its entire shale gas acreage located in the Hamburg area of Northwest Alberta. The first report provides an estimate of Contingent Resources and the second report provides an estimate of Prospective Resources for Mooncor's entire 162 section Hamburg area Devonian shale gas play.

DeGolyer and MacNaughton Canada Limited have provided a National Instrument 51-101 compliant estimate of Contingent plus Prospective Resources for Mooncor at Hamburg of up to 10.57 TCF Original Gas-in-Place. The total Contingent plus Prospective Recoverable Gas-in-Place is estimated to be up to 2.57 TCF.

Mooncor continues to assess its options and is holding discussions with several interested parties in respect to development of its Hamburg resources and further details will be communicated in due course, as appropriate.


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