Longbow Resources Inc.
TSX VENTURE : LBR

Longbow Resources Inc.

October 01, 2007 14:00 ET

Longbow Resources Inc. Closes Flow-Through Share Financing

CALGARY, ALBERTA--(Marketwire - Oct. 1, 2007) - Longbow Resources Inc. (TSX VENTURE:LBR) ("Longbow" or the "Company") is pleased to announce the closing of its previously announced non-brokered private placement of flow-through common shares, pursuant to which 978,767 common shares were issued at a price of $0.48 per share for gross proceeds of $469,808 subject to completion of all required filings with the TSX Venture Exchange.

In connection with the offering, agent's and finder's fees of $32,886 are to be paid by Longbow, representing a cash commission of 7% of the aggregate subscription funds raised by such agents and finders.

All securities issued by Longbow are subject to a hold period expiring January 29, 2008, four months after closing of the private placement. After completion of the offering, the Company will have approximately 25,170,000 common shares issued and outstanding.

The proceeds from the issuance of the flow-through shares will be used to finance continued exploration and development of Longbow's oil and natural gas properties in Byemoor and Lone Pine.

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 feet 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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