Maskal Energy Ltd.

Trading Symbol: MMK.H

CALGARY, Aug. 13 /CNW/ - Maskal Energy Ltd. (NEX: MMK.H) ("Maskal" or the "Corporation") announces that all of its directors have resigned from the Board of the Corporation. No replacement directors have been appointed nor, through discussion with interested parties, have any persons expressed interest in becoming directors.

The Corporation has insufficient working capital to continue operations, with no present financing options available to it. Furthermore, the Corporation had insufficient working capital available to petition itself into bankruptcy or place itself in the hands of receiver and will thus simply cease to operate unless or until interested persons come forward to assume responsibilities for affairs of the Corporation. In connection with a settlement agreement the company paid all the funds available from the proceeds of the sale of the assets to the debenture holders as demanded namely: Bullion Fund Inc., 1053011 Alberta Ltd, John Garden and Rick Mazurkewich.

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.

SOURCE MASKAL ENERGY LTD.

For further information: For further information: Maskal Energy Ltd., 1900, 715 - 5 Ave SW, Calgary, AB, T2P 2X6, Tel: (403) 234-8998, Fax: (403) 265-4514

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MASKAL ENERGY LTD.

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