Magnum Completes Drilling Of Test Well

    VANCOUVER, Nov. 21 /CNW/ - (TSX-V:MEN): Magnum Energy Inc. (the
"Company") is pleased to announce that the drilling of the Cardium farm-in
test well, previously announced on November 16, 2007, has reached total depth.
    The operator has advised that they have completed the casing of the well
on November 21, 2007. The operator is now preparing to complete and evaluate
the target zone for production.
    The Company anticipates that the completion of the well will take
approximately 7 days.

    Magnum Energy Inc.

    Magnum Energy Inc. is a junior oil and gas exploration company operating
in the Western Canadian Sedimentary Basin. The company is headed by Ted Konyi,
CEO who has had extensive experience in the financing of oil and gas projects
in Western Canada. The company has established an initial core area in South
Eastern Alberta which it believes will produce significant cash flow for the
company upon completion of a comprehensive drilling program.

    The TSX Venture Exchange has neither approved or disapproved the contents
    of this press release.

    %SEDAR: 00022291E

For further information:

For further information: Ted Konyi or Allan Thompson at (604) 669-3155,
Magnum Energy Inc., 1280 - 333 Seymour Street, Vancouver, B.C., V6B 5A6,

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