Monarch Acquires Interest In Texas Properties

  
    
  
  
    
      Monarch Gulf Exploration, Inc., (Pink Sheets:MGFX) today announced it 
      has entered into an agreement with Golden Sandstorm, LLC., to acquire 
      and explore approximately 2000 acres in West Texas. The locations of the 
      leases are primarily in a very prolific oil producing area in Young 
      County, Texas.
    
    
      The properties consist of areas with multiple targets and formations 
      including the Gunsite, Thomas, Strawn, Caddo, Conglomerate, Marble 
      Falls, Barnett Shale, and the Mississippi. The depths of the formations 
      range from approximately 700 to 4800 feet. Included in the leases, 
      within the Gunsite formation at 700 feet, are 15 stripper wells that 
      Monarch intends to rework to enhance current production.
    
    
      R.E. “Bob” 
      Jorgensen, CEO of Monarch is quoted as stating “With 
      multiple formations at relatively shallow depths, this project offers 
      Monarch multiple targets on each individual well drilled to the deeper 
      formations.”
    
    
      Under the agreement Monarch would have a 90% working interest, and 
      Golden Sandstorm, LLC will have a carried 10% interest, subject to a 75% 
      NRI. In addition, Golden Sandstorm, LLC., will be the operator of the 
      project.
    
    
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