LongBow Energy Corp.

LongBow Energy Corp.

November 08, 2005 09:00 ET

LongBow Energy Corp. Announces Sale of Property

CALGARY, ALBERTA--(CCNMatthews - Nov. 8, 2005) - LongBow Energy Corp. (TSX VENTURE:LBV) announces the closing of the sale of 80% of its oil and gas interests in one well in the Hastings area of Alberta (the "Assets"). LongBow held 33.333% working interest in the property, and continues to hold similar working interests in one other producing well and two non-producing properties in the Hastings area. Pursuant to the due diligence process, LongBow's Board of Directors agreed to accept an asset purchase price of $800,000. The purchase price includes 714,286 Shares in the purchasing company with an offset value of $250,000. LongBow will utilize the proceeds from the sale to pursue oil and gas opportunities in Western Canada and for other corporate purposes.

LongBow is a junior oil and natural gas company based in Calgary, Alberta with core natural gas, coal bed methane and oil properties located in Alberta at Cold Lake, Garrington, Three Hills, Leahurst, and Leduc.

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

Contact Information

  • LongBow Energy Corp.
    Tamara Yourth
    (403) 264-4722
    (403) 269-5518 (FAX)