Long View Resources Corporation

Long View Resources Corporation

January 15, 2007 15:19 ET

Long View Resources Corporation Announces Property Sale

CALGARY, ALBERTA--(CCNMatthews - Jan. 15, 2007) - LONG VIEW RESOURCES CORPORATION (TSX VENTURE:LRC)("Long View", the "Company") announces the closing of a disposition of its Viewfield property to an arm's length party for a cash purchase price of $4,250,000 (Cdn). The effective date of the property sale is January 1, 2007.

The Viewfield property is located in southeast Saskatchewan and consists of approximately 600 net acres of land. Based on November 2006 production month figures, the property produced approximately 40 barrels of oil equivalent per day from five wells in which the Company had an interest.

Proceeds from the sale will be used to fund the Company's 2007 capital expenditures program.

This property sale provides Long View with very attractive sale terms and positions the Company to take advantage of other opportunities within the Company's portfolio. Sayer Energy Advisors acted as financial advisors to the Company in connection with the transaction.


Long View Resources Corporation is a TSX Venture Exchange Tier 1 listed public energy company with producing assets in southeastern Saskatchewan, and an undeveloped land base of 36,000 net acres. Long View trades under the symbol "LRC".

ADVISORY: Certain information regarding Long View Resources Corporation in this news release including management's assessment of future plans and operations, number of locations in drilling inventory and wells to be drilled, timing of drilling and tie-in of wells, timing of completions and construction of facilities, expected production rates, drilling success rates, dates of commencement of production and capital expenditures and timing thereof, may constitute forward-looking statements under applicable securities laws and necessarily involve risks including, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserves estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, capital expenditure costs, including drilling, completion and facilities costs, unexpected decline rates in wells, wells not performing as expected, incorrect assessment of the value of acquisitions, failure to realize the anticipated benefits of acquisitions, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect Long View's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com), and at Long View's website (www.longviewresources.com). Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Long View does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Disclosure provided herein in respect of barrels of oil equivalent (boe) may be misleading, particularly if used in isolation. A boe conversion ratio of 6 thousand cubic feet (mcf) per boe is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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