Magnum Energy Inc.: Sedalia Flow Test Results

Magnum Energy Inc. ("Magnum" or the "Company") (TSX VENTURE:MEN) is pleased to
announce the initial test results of the Company-operated three well drilling
program in the Sedalia area. As previously announced in the Company's news
release dated January 05, 2009 Magnum successfully drilled and cased all 3
wells.


Upon initial evaluation of the potential productive zones, the Company decided
to fracture stimulate the primary zone in one of the wells, as well as the
primary and secondary zones in another of the wells to maximize production.


The initial test rate for the primary zone in Magnum's 1-23 well was
approximately 775 mcf/d (thousand cubic feet per day) and for the secondary zone
was approximately 575 mcf/d. The initial test rate for the primary zone in
Magnum's 3-24 well was approximately 1,000 mcf/d (million cubic feet per day)
and for the secondary zone was approximately 250 mcf/d. The Company has not
fully completed and evaluated the third well in the program located at 1-35,
however initial results indicate that the primary zone which tested gas will
need to be fracture stimulated to achieve commercial production rates. The
Company plans to complete operations on the 1-35 later this year.


The Company has equipped the subject wells and is preparing to tie-in the wells
for production. To that end, Magnum has received approval for the pipeline
license from the Energy Resources Conservation Board. In addition to the above
three wells, this pipeline will enable the tie-in of the Magnum 13-35 well which
was re-completed in January 2008. The initial test rate for the 13-35 well was
approximately one million cubic feet a day.


The Company will initially only flow one zone per well to evaluate reserves and
establish stabilized production rates. In the interim Magnum is preparing
additional drilling and recompletion plans for the balance of the 2009 year with
field operations to commence in the third quarter. The Company has recently
acquired 2D seismic data in the area which will further refine the development
plans.