Mooncor extends warrant expiration dates

    MOO:TSX Venture Exchange

    CALGARY, Feb. 9 /CNW/ - Mooncor Oil & Gas Corp. (the "Corporation")
announced today that it has obtained approval from the TSX Venture Exchange to
extend the expiry dates of the common share purchase warrants exercisable at
$0.83 per share issued by the Corporation's subsidiary, Mooncor Energy Inc.
("Mooncor Energy"), prior to its reverse take-over transaction with the
Corporation, in its February 13, 2007 private placement financing, and the
common share purchase warrants exercisable at $0.83 per share issued by the
Corporation in its September 28, 2007 private placement financing which closed
concurrently with the reverse take-over transaction with Mooncor Energy.
    Accordingly, the February 13, 2009 expiry date of the 64,001 warrants
issued by Mooncor Energy on February 13, 2007 is extended to February 13,
2010, and the March 28, 2009 expiry date of the 2,027,168 warrants issued by
the Corporation on September 28, 2007 is extended to March 28, 2010.
    Each warrant entitles the holder to purchase one common share in the
capital of the Corporation. The exercise price of these warrants remains
unchanged at $0.83.
    The total number of warrants being affected by this extension is
2,091,169 out of 13,913,016 currently outstanding.

    Business of Mooncor Oil & Gas Corp.

    Mooncor (through its wholly owned operating subsidiary Mooncor Energy
Inc.) is a junior oil and gas exploration and development company, with
unconventional shale gas, light oil and heavy oil projects in Saskatchewan,
Alberta and South Western Ontario. Mooncor is focusing on both its shale gas
opportunities and its oil operations with current emphasis on its recent shale
gas acquisition in Alberta.

    This information contains forward-looking statements (forecasts) under
applicable securities laws. Forward-looking statements are necessarily based
upon assumptions and judgments with respect to the future including, but not
limited to, the outlook for commodity markets and capital markets, the
performance of producing wells and reservoirs, and the regulatory and legal
environment. Many of these factors can be difficult to predict. As a result,
the forward-looking statements are subject to known or unknown risks and
uncertainties that could cause actual results to differ materially from those
anticipated or implied in the forward-looking statements.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this press release.

For further information:

For further information: Richard Cohen, Vice-President (Corporate
Development), Mooncor Oil and Gas Corp., Tel: (905) 882-4422,; Jason Monaco, First Canadian Capital Corp., Tel: (416)

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Mooncor Oil and Gas Corp.

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