Longbow Resources Inc.
TSX VENTURE : LBR

Longbow Resources Inc.

November 13, 2007 18:12 ET

Longbow Resources Announces Intention to Make a Normal Course Issuer Bid

CALGARY, ALBERTA--(Marketwire - Nov. 13, 2007) - Longbow Resources Inc. (TSX VENTURE:LBR) ("Longbow" or the "Company") announced today that it has filed with the TSX Venture Exchange (the "Exchange") a notice of its intention to make a normal course issuer bid for its common shares ("Common Shares") through the facilities of the Exchange (the "Notice").

Pursuant to applicable Exchange policies, during the twelve month period commencing after Exchange approval of the Notice, the Company may purchase on the Exchange up to a maximum of 1,258,000 Common Shares, being approximately 5% of the issued and outstanding Common Shares in the share capital of Longbow. The price that Longbow will pay for any such Common Shares will be the market price at the time of acquisition and any Common Shares purchased under the normal course issuer bid will be cancelled. The actual number of Common Shares that may be purchased and the timing of any such purchases will be determined by the Company. Longbow has selected CIBC World Markets Inc. to conduct the normal course issuer bid on its behalf. As of the date hereof, there are 25,170,802 Common Shares in the share capital of Longbow issued and outstanding.

Longbow considers the normal course issuer bid to be in the best interest of the Company and its shareholders. Longbow believes that its Common Shares are currently trading in a price range that does not adequately reflect their value in relation to Longbow's existing assets and its business prospects. As a result, depending on future market prices and other factors, Longbow believes that its outstanding Common Shares represent an attractive investment and a desirable use of a portion of its available funds. The repurchase of Common Shares from time to time will also provide additional liquidity to Longbow's shareholders.

A copy of the Notice may be obtained by any shareholder of Longbow, without charge, by contacting the Company. The Notice is subject to the approval of the Exchange.

Longbow is a junior oil and natural gas company based in Calgary, Alberta with properties located in Alberta, British Columbia and Saskatchewan.

Certain statements contained herein may constitute forward-looking statements. These statements relate to future events or our future performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. We believe that the expectations reflected in the forward-looking statements are reasonable based upon management's current views but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. No assurance can be given that actual results, performance or achievement expressed in, or implied by these forward-looking statements will occur, or if they do, that any benefits may be derived from them. Past results have been applied in drawing a conclusion or making a forecast or projection set out in the forward-looking information. The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic fee per barrel (6mcf/bbl) of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions herein are derived from converting gas to oil in the ratio mix of six thousand cubic feet of gas to one barrel of oil.

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

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