Longford Corporation
TSX VENTURE : LFD

November 20, 2007 10:39 ET

Longford Closes Shares for Debt Settlement

TORONTO, ONTARIO--(Marketwire - Nov. 20, 2007) - Longford Corporation. ("Longford" or the "Company") (TSX VENTURE:LFD) is pleased to announce that it has closed its previously announced debt settlement by issuing 354,000 Longford common shares in full settlement of $35,371.45 in outstanding net debt. These shares are subject to a statutory hold period that expires on March 21, 2008.

The Company is optimistic and continues to investigate its strategic alternatives. These alternatives may include, among other things, revisions to the Company's strategic plan, asset divestitures, operating partnerships or identifying additional capital sources.

Longford Corporation is a Canadian oil and gas exploration company.

LONGFORD CORPORATION

Ahmed Said, President & CEO

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