Loon Energy Inc.

Loon Energy Inc.

October 16, 2007 18:43 ET

Loon Issues Options

CALGARY, ALBERTA--(Marketwire - Oct. 16, 2007) - Loon Energy Inc. ("Loon") (TSX VENTURE:LEY) granted options to purchase 100,000 common shares on October 15, 2007 to one insider of Loon. The exercise price is $0.65 per share and the expiry date of the options is October 15, 2012.

Some of the statements contained in this release may be forward-looking statements. Forward-looking statements may include, but are not limited to, statements concerning estimates of recoverable hydrocarbons, expected hydrocarbon prices, expected costs, statements relating to the continued advancement of the Company's projects and other statements which are not historical facts. When used in this document, and in other published information of the Company, the words such as "could," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are indicative of a forward-looking statement. Although the Company believes that its expectations reflected in the forward-looking statements are reasonable, the potential results suggested by such statements involve risk and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Various factors, which could cause actual results to differ from these forward-looking statements, include the potential that the Company's projects will experience technical and mechanical problems, geological conditions in the reservoir which may negatively impact levels of oil and gas production and changes in product prices and other risks not anticipated by the Company or disclosed in the Company's published material. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.

The TSX Venture Exchange neither approves nor disapproves of the information contained herein.

Contact Information

  • Loon Energy Inc. - Calgary, Canada
    Norman W. Holton
    Executive Chairman
    (403) 264-8877
    Email: nholton@loon-energy.com
    Loon Energy Inc. - Dubai, UAE
    Timothy M. Elliott
    President and Chief Executive Officer
    Email: telliott@loon-energy.com
    Loon Energy Inc. - Dubai, UAE
    Jock M. Graham
    Executive Vice President
    Email: jgraham@loon-energy.com
    Brisco Capital Partners Corp. (Calgary)
    Gordon Aldcorn
    Investor Relations
    (403) 262-9888
    Email: galdcorn@shaw.ca