Announces Management and Board Change

CALGARY, ALBERTA--(Marketwire - Feb. 15, 2013) - Mooncor Oil & Gas Corp. ("Mooncor") (News - Market indicators) announced today that Nick Tsimidis has resigned as interim Chief Executive Officer and as a director of Mooncor, after more than eight years of service, to focus on other responsibilities. The board would like to thank Nick for his loyal and invaluable contributions and efforts to Mooncor since 2004 and wish him all the best in his other ventures.

The directors of Mooncor have appointed Allen Lone to fill the vacancy on the board of directors. On an interim basis, Mr. Lone has also accepted the board's request that he serve as interim Chief Executive Officer of Mooncor while the board works towards finding a permanent solution.

Allen Lone is currently the President & Chief Executive Officer and a director of Augusta Industries Inc. (TSX VENTURE:AAO). Mr. Lone has served as director of Ammonite Energy and has served on its Audit, Compensation and Reserve and Environmental Committees. Mr. Lone was the Chief Executive Officer, a director and the promoter of Ketchum Capital Corporation until completion of its Qualifying Transaction on December 12, 2008. Since 1991, Mr. Lone has been the President and Chief Executive Officer of Marcon International Inc., an industrial supply contractor serving the oil and gas industry. Mr. Lone holds an MBA from Lindenwood University, St. Louis, Missouri, and a Bachelor of Science in Business Administration and B.A General Studies from South East Missouri State University.