Monarch Energy Limited: News Release

Monarch Energy Limited (TSX VENTURE:MNL)(FRANKFURT:EIY) (the "Company") confirms
that the Company has no exposure to non bank asset-backed commercial paper.


Most of Monarch's cash and cash equivalents are deposited with a major
accredited Canadian chartered bank. The balance is in trust as an advance
against participation with the previously announced Ridgewood project located in
Block 12/17 in the North Sea. Lundin Petroleum AB is the operator and has
contracted the Global SantaFe Galaxy II jack-up rig to drill this project in
October 2007.


Monarch is also fully funded for its 20% of the cost of acquiring new 3-D
seismic and 13.33% of the cost of drilling a test well to earn a 10% interest in
a 422 square kilometer (approximately 104,000 acre) block located in Quad 30 in
the UK North Sea. Lundin Petroleum AB is also the operator of this project.


Furthermore, current negotiations are ongoing with a major international oil
company which Monarch is fully funded to participate in as part of its
continuous active exploration program in the North Sea.


ON BEHALF OF THE BOARD

Kaare G. Foy, Executive Chairman & CFO