LongBow Energy Corp.
TSX VENTURE : LBV

LongBow Energy Corp.

April 02, 2007 08:00 ET

LongBow Completes Acquisition of Camdel Energy

CALGARY, ALBERTA--(CCNMatthews - April 2, 2007) - Longbow Energy Corp. (TSX VENTURE:LBV) ("Longbow" or the "Company") is pleased to advise that its previously announced acquisition of all of the issued and outstanding shares of Camdel Energy Inc. ("Camdel") by way of amalgamation under the Business Corporations Act (Alberta) has been completed. Effective March 31, 2007, Articles of Amalgamation were filed with the Registrar of Corporations for the Province of Alberta combining Camdel and 1296681 Alberta Ltd., a wholly-owned subsidiary of Longbow. The shareholders of Camdel unanimously approved the amalgamation at the annual and special meeting of shareholders held on Thursday, March 22, 2007 and the closing of the acquisition occurred on Thursday, March 29, 2007, subject only to the filing of the Articles of Amalgamation and the issuance of a final acceptance letter in respect of the acquisition by the TSX Venture Exchange.

Pursuant to the amalgamation, shareholders of Camdel will receive 1.26 common shares of Longbow (at a deemed value of $0.07 per share) for each issued and outstanding common share of Camdel, upon surrender to the Company of their Camdel share certificates together with a duly completed letter of transmittal. If the proposed share consolidation and name change is approved by Longbow shareholders at a special meeting to be held on April 5, 2007, Camdel shareholders will receive certificates representing the Company's common shares (post-consolidation) in exchange for their Camdel share certificates. If the proposed consolidation and name change is approved and implemented, former Camdel shareholders will receive, in aggregate, approximately 1,142,600 common shares in exchange for their Camdel common shares. Accordingly, post-consolidation, Longbow will have approximately 16,067,200 issued and outstanding common shares, of which 7.1% will be held by former Camdel shareholders.

The Company believes that the acquisition of Camdel is another important step in building a solid drilling inventory of 100% working interest, high impact prospects in the Company's areas of concentration. Presently, the Company has identified ten potential drilling locations associated with the Camdel lands.

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

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