RICHMOND, TX–(EMWNews – July 21, 2008) – Monogram Energy Inc. (PINKSHEETS: MGRN) is

pleased to announce it has entered into negotiations to acquire a 25%

working interest in a re-work well located in the North Dakota section of

the Williston Basin. This extends a relationship reported earlier, and

represents the second project of which the Company hopes are many to come.

This well was drilled in February 2006, and requires washing with solvent

to bring it back into production. Production potential is estimated at

1,200-1,400 barrels per day. The Williston basin represents one of the

largest North American oil finds in history.

Mr. Billy King, Chief Executive Officer of Monogram Energy, Inc., stated,

“We are excited to continue making progress with our acquisition strategy,

and we believe this well is a good fit for our program.”

Mr. King became interested in the production of oil & gas during his ten

years of employment as an attorney for the Halliburton Company, and with

his representation of independent oil companies during his years as a

private practitioner. Monogram Energy’s goal is to maintain a high

risk/reward profile, thereby enabling them to return the most value to its

shareholders.

About Monogram Energy, Inc.:

Monogram Energy, Inc. is an independent energy company engaged in the

acquisition, development, and exploitation of oil and gas properties. The

Company specializes in acquiring oil & gas leases with proven reserves that

have the potential for increased production.

Billy D. King, the Chairman & CEO, is a graduate of St. Mary’s University

School of Law, and has been in the field of oil & gas law in excess of

thirty years.

Safe Harbor Statement under the Private Securities Litigation Reform Act of

1995: Except for historical information, the forward-looking matters

discussed in this news release are subject to certain risks and

uncertainties which could cause the Company’s actual results and financial

condition to differ materially from those anticipated by the

forward-looking statements including, but not limited to, the Company’s

liquidity and the ability to obtain financing, the timing of regulatory

approvals, uncertainties related to corporate partners or third-parties,

product liability, the dependence on third parties for manufacturing and

marketing, patent risk, copyright risk, competition, and the early stage of

products being marketed or under development, as well as other risks

indicated from time to time in the Company’s filings with the Securities

and Exchange Commission. The Company assumes no obligation to update or

supplement forward-looking statements that become untrue because of

subsequent events.

Additionally, this release may not be considered as legal, accounting, or

investment advice, and is not, and may not be considered, a solicitation

for the purchase of any securities issued by Monogram Energy, Inc.

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