Mooncor Provides Update on Macquarie Tristone Process

CALGARY, ALBERTA--(Marketwire - Oct. 20, 2009) - 

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR 
DISSEMINATION IN THE UNITED STATES

Mooncor Oil & Gas Corp. ("Mooncor") (TSX VENTURE:MOO) announces that it has 
completed the first phase of its process to seek non-binding proposals for 
divesting a portion of its interest in lands situated in the Hamburg area 
of northern Alberta by means of a farm-out.

The company and its adviser, Macquarie Tristone (the acquisitions and 
divestments business of Macquarie Capital Markets Canada Ltd.), are 
currently reviewing feedback provided in this process and evaluating the 
options available. The process has been extended and further details will 
be communicated in due course, as deemed appropriate.

Mooncor has filed a Caribou Management Plan for the 2009 / 2010 winter 
season outlining proposed activities in the Hamburg area and anticipates 
receiving formal approval of the plan by mid-November.

Business of Mooncor Oil & Gas Corp.

Mooncor Oil & Gas Corp. is a junior oil and gas exploration and development 
company. Mooncor is focusing on its shale gas opportunities with a current 
emphasis on its high impact proven muskwa shale gas play at Hamburg, 
Alberta.

The information in this news release includes certain information and 
statements about management's view of future events, expectations, plans 
and prospects that constitute forward looking statements. These statements 
are based upon assumptions that are subject to significant risks and 
uncertainties. Because of these risks and uncertainties and as a result of 
a variety of factors, the actual results, expectations, achievements or 
performance may differ materially from those anticipated and indicated by 
these forward looking statements. Although Mooncor believes that the 
expectations reflected in forward looking statements are reasonable, it can 
give no assurances that the expectations of any forward looking statements 
will prove to be correct. Except as required by law, Mooncor disclaims any 
intention and assumes no obligation to update or revise any forward looking 
statements to reflect actual results, whether as a result of new 
information, future events, changes in assumptions, changes in factors 
affecting such forward looking statements or otherwise.

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