Longford Energy Inc.
TSX VENTURE : LFD

Longford Energy Inc.

July 08, 2009 09:13 ET

Longford Energy Repays Existing Loan

CALGARY, ALBERTA--(Marketwire - July 8, 2009) - Longford Energy Inc. ("Longford" or "the Company") (TSX VENTURE:LFD) is pleased to announce that it has repaid in full the loan that it obtained from Vast Exploration Inc. ("Vast") from the net proceeds that it received from its recently completed equity financing.

Longford and Vast have common officers and directors, being Stan Bharti and Ahmed Said, who are directors of Longford and Vast; and Gary Lobb and Patrick Gleeson, the Chief Financial Officer and Corporate Secretary, respectively of both Longford and Vast. In addition, Ahmed Said is the President and Chief Executive Officer of both Longford and Vast. As such the loan will be considered a non-arm's length transaction for the purposes of the TSX Venture Exchange.

About Longford Energy Inc.

Longford Energy Inc. is a junior Canadian oil and gas exploration and production company actively pursuing international crude oil and natural gas opportunities.

Statements in this release that are not historical facts are "forward-looking information" within the meaning of applicable securities law. Forward-looking information typically contain words such as "anticipate", "plan", "expect", "potential", or similar words suggesting future outcomes and include, statements regarding corporate strategy; the terms of the loan, the ability of the Company to acquire required financing to repay the loan and the availability of acquisition opportunities. There can be no assurance that such information will prove to be accurate; actual results and future events could differ materially from such information. Factors that could cause actual results to differ materially include, among others, commodity prices, third party risks, acquisition risks, risks inherent in the oil and gas industry, licensing risks, financing risks, regulatory risks and environmental concerns. Investors are cautioned not to place undue reliance on forward-looking information.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Contact Information

  • Longford Energy Inc.
    Ahmed S. Said
    President & Chief Executive Officer
    +1 (403) 263 3000
    +1 (403) 263 3041 (FAX)
    asaid@forbesenergygroup.com