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Morgan Creek Energy Sets Drilling Preparations on their Frio Draw Oil/Gas Prospect, in NE New Mexico

Dallas, Texas / PR Newswire – June 24, 2008 –Morgan Creek Energy Corp., (the “Company”) (SYMBOL MCKE-OTCBB, M6C1-Frankfurt) is setting drilling preparations on its San Andres prospect at Frio Draw in NE New Mexico. Morgan Creek holds a 100% working interest in approximately 14 contiguous sections in T2&3N, R34E.

Morgan Creek’s contract operator, the OPS Group, is mobilizing a survey crew to stake the Nitz #1 test well site and access road in the NE/4 of Section 2, Twp 2N, Rge 34E. OPS plans to survey the site early this week. Once final survey plats are received, OPS will apply for a drilling permit from the Oil Conservation Division of the New Mexico Energy, Minerals and Natural Resources Department.

The target formation is the middle porosity member of the Permian San Andres carbonate at 3,400' to 4,000'. The location of the Nitz #1 test is updip to a Shell stratigraphic test drilled in the SE/4 0f Section 12, Twp 2N, Rge 34E that demonstrated a good San Andres porosity on logs and oil shows during the drilling operation.

OPS is currently negotiating a drilling contract with United Drilling Inc. of Roswell, New Mexico. OPS confirmed that they have tubulars on order and expect to spud the Nitz #1 well in mid July. Schlumberger has been engaged to run their Carbonate Advisor log suite, which includes PEX, CMR, NGT, BHC, an ELAN production analysis and a FMI textural analysis to detect fractures and vugs.

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

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