Morumbi Oil & Gas Inc. Extends the Expiry Date of Certain Outstanding Common Share Purchase Warrants for One Year

   Morumbi Oil & Gas Inc. (TSX VENTURE: MOC) ("Morumbi" or the "Company") is pleased to announce that an application has been approved by the TSX Venture Exchange to extend the term of the 300,667 warrants issued by the Corporation on August 13, 2010 (the "Warrants"). The Warrants were scheduled to expire on August 13, 2011 but will now expire on August 13, 2012.

The Warrants were issued as part of a private placement offering by the Company that was completed on August 13, 2010. For further information on the original issuance of the Warrants, please refer to the press release of the Company dated August 16, 2010 filed on SEDAR.

Warrantholders are advised that replacement Warrant certificates will not be issued and that the original Warrant certificates must be presented to Morumbi, as warrant agent, in order to effect the exercise or transfer of such Warrants.

About Morumbi

Morumbi Oil & Gas Inc. is a public company with attractive near-term light oil exploitation opportunities in northwest Alberta. The Company trades on the TSX Venture Exchange under the symbol "MOC". For more information about Morumbi and the Company's McKinley Property and plans visit our website at www.morumbi.ca.

Disclaimer

Certain statements contained in this news release may contain forward-looking information within the meaning of Canadian securities laws. Such forward-looking information is identified by words such as "estimates", "intends", "expects", "believes","may", "will" and include, without limitation, statements regarding the company's plan of business operations (including plans for developing assets) and projected expenditures. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, commodity prices, risks inherent in the oil & gas industry, financing risks, labour risks, title disputes, regulatory risks, currency fluctuations, competition, unexpected decline rates in wells, changes in taxation or royalty regimes and environmental concerns. Most of these factors are outside the control of the company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the company expressly disclaims any intent or obligation to update publicly forwardlooking information, whether as a result of new information, future events or otherwise.

Neither the 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.

Contacts: Morumbi Oil & Gas Inc. Thomas J. Loch President & C.O.O. 1-403-263-8420 [e-mail] www.morumbi.ca