Clampett Energy Ltd. (Formerly Named Madison Energy Corp.) Announces Closing of Amalgamation

Clampett Energy Ltd. (the "Clampett") (formerly named Madison Energy Corp.)
("Madison") (TSX VENTURE:MDC) is pleased to announce that, further to a press
release dated March 4, 2010, and pursuant to an amalgamation agreement (the
"Amalgamation Agreement") dated as of March 2, 2010, Clampett Energy Ltd. ("Old
Clampett") and Madison amalgamated (the "Amalgamation") on April 8, 2010 to form
Clampett. The Amalgamation was approved overwhelmingly by 99.95 % of the
shareholders of Madison who voted on the Amalgamation at a special meeting of
the shareholders of Madison held on April 8, 2010 and by all of the shareholders
of Old Clampett on March 24, 2010.


Pursuant to the terms of the Amalgamation Agreement, each holder of common
shares of Madison ("Madison Shares") received one class "B" redeemable preferred
share in the capital of Clampett for each Madison Share held, which was
immediately redeemed by Clampett for cash consideration equal to $0.20 per
Madison Share. Each holder of class "1" common shares of Old Clampett ("Clampett
Shares") received one class "A" common share of Clampett for each Old Clampett
Share held. A letter of transmittal was previously mailed to the former Madison
shareholders providing instructions as to how such shareholders should submit
their Madison Shares in order to receive payment to which they are entitled
pursuant to the Amalgamation.


John Murdoch, Patricia Taguchi, Scott Reeves, James Bunyan, Alexander Dougall,
Elias Foscolos and Jerry Budziak have resigned today as directors and officers
of Madison as contemplated by the Amalgamation.


It is anticipated that common shares of Clampett will be delisted from trading
on the TSX Venture Exchange shortly and application will be made to applicable
securities regulatory authorities for Clampett to cease to be a reporting issuer
under applicable securities laws.


About Clampett Energy Ltd.

Clampett is a privately-held junior oil and gas company.

Advisory Regarding Forward-Looking Information

Certain statements contained in this release constitute forward-looking
information. These statements relate to future events or Clampett's future
performance. The use of any of the words "could", "expect", "believe", "will",
"projected", "estimated" and similar expressions and statements relating to
matters that are not historical facts are intended to identify forward-looking
information and are based on Clampett's current belief or assumptions as to the
outcome and timing of such future events. Actual future results may differ
materially. Actual results and developments may differ materially from those
contemplated by this forward-looking information. Clampett disclaims any
intention or obligation to publicly update or revise any forward-looking
information, whether as a result of new information, future events or otherwise,
except as may be expressly required by applicable securities laws.