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04.12.2009
Morgan Creek Energy Corp. Moves Into Drilling Phase With A Now Increased 70% Majority Working Interest in the North Fork 3-D Prospect
Morgan Creek Energy Corp. Moves Into Drilling Phase With A Now Increased 70% Majority Working Interest in the North Fork 3-D Prospect

Dallas, Texas – December 4, 2009 – Morgan Creek Energy Corp. (“The Company”) (“Morgan Creek”) (SYMBOL MCKE-OTCBB, M6C1-Frankfurt) has received an AFE (Authorization For Expenditure) prepared by Castelli Exploration, Inc. for the drilling and completion costs on its test well on Section 19 of the North Fork 3-D Prospect in Beaver County, Oklahoma.

According to an Amended Agreement signed on December 1, 2009 between Morgan Creek and Bonanza Resources (“Bonanza”), Morgan Creek has an option to acquire a 70% working interest of Bonanza’s 85% working interest (a 59.50% net working interest) in the Prospect, up to October 28, 2010. Morgan Creek also has an exclusive right to drill and complete one well on the prospect to earn its 70% working interest in the entire 5,600-acre prospect.

Under the proposed AFE, the projected dry hole and completion expenditures are approximately US $950,000. The AFE is derived from detailed drilling information to target Morrow A and B Sands at approximately 8,700 feet.

Morgan Creek Energy is intending to drill this well in order to prove targets in the Morrow A and B Sands, which have been shown to produce between 300 and 500 barrels of oil per day in this area. In order to develop this target, Morgan Creek and its consultants have used sophisticated 3-D Seismic imaging together with skilled interpretation of the new seismic imaging. Over US $900,000 has been spent on the seismic groundwork used to validate this prospect, and a total of US $1.5 million has been spent on the prospect to date, including acquisition costs.

About Morgan Creek Energy Corp.:
Morgan Creek Energy Corp. is a natural resource exploration company engaged in the acquisition and development of strategic oil and natural gas properties. For further information see: www.morgancreekenergy.com

Symbol: OTCBB – MCKE; Frankfurt/Berlin Symbol – M6C1, WKN No.: A0QYTM; ISIN: 61732R 206

Contact North America: Investor Relations
Tel.: 214-722-6490

Contact Europe: Investor Relations
Tel.: 49-69-7593-8467

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EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” “PLAN” OR “EXPECT” OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH PROPERTY DEVELOPMENT AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY’S MOST RECENT ANNUAL REPORT ON FORM 10-KSB AND ON FORM 10-QSB AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY’S DEVELOPMENT EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM TIME-TO-TIME WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION.

THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. EACH OF THE NASD, THE SEC AND THE OTCBB NEITHER APPROVES NOR DISAPPROVES OF THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.




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