Magnum initiates production from new wells

    VANCOUVER, April 4 /CNW/ - Magnum Energy Inc. (TSX-V: MEN) is pleased to
announce the completion of the tie-in process of seven previously drilled
wells in the Taber area of Alberta. Five of the wells have commenced
production with a further two being scheduled for fracture later this week.
    After the two remaining wells have been fractured, flow rates will be
evaluated to estimate full production capabilities and expectations and to
determine further development opportunities in this area.

    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: call either 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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