Longbow Adds Value With Purchase of Oil Properties

Longbow Resources Inc. (TSX VENTURE:LBR) ("Longbow" or the "Company") is pleased
to report that its previously announced acquisition of oil producing properties
in the Byemoor area of Alberta has been completed subject to filing of final
documentation with the TSX Venture Exchange. The Company paid the purchase price
of $8.2 million with a combination of bank financing and cash on hand.


As part of the Company's due diligence process prior to the acquisition,
management contracted Sproule and Associates Limited to prepare an NI-51-101
compliant engineering report/valuation for the property. According to the
Sproule Report effective June 30, 2007, the proved plus probable value of the
properties, at a 10% discount rate was $10.69 million. This alone represents a
$2.4 million addition to the Company's reserve value prior to any development of
the property. Currently Company has approximately 24,192,000 common shares
issued and outstanding.


The properties that have been acquired by the Company include an operated
working interest of 100% in 14 producing oil wells and seven sections of land.
The properties can be described as mature producing properties with sound
historical production, long reserve life and good future exploitation potential.
The properties are currently producing approximately 180 boe/d. To date the two
glauconitic oil pools (33 degree API light oil) which make up the property have
only recovered 2.7% of the 40 MMSTB combined initial oil in place according to
EUB pool data as of the effective date. Management believes that there is
significant additional upside to this property as evidenced by the fact that the
Sproule Report indicates the ultimate 2P recovery factor from just the existing
14 oil wells will be 4.2%. When one considers that EUB oil pool data for
adjacent glauconitic oil pools shows primary ultimate recovery factors in the
10% range, with additional horizontal development drilling, the opportunity
becomes all that much more attractive.


The current spacing order allows for the drilling of up to six horizontal wells.
Upon the approval of a EUB application, an additional six horizontal locations
will be possible. The Company has plans for a total of twelve horizontal wells
on the property with the first two horizontal wells to be drilled before the end
of the year. 


Longbow was initially attracted to the Byemoor properties due to the fact that
it is a 100% working interest, operated, oil producing property which contains
significant oil in place with a historically low recovery factor to date. These
attributes, coupled with the low decline rate and long reserve life make the
property an excellent candidate for low-risk horizontal well development
drilling in the short term, which is expected to add immediate oil rates and
reserves. In the long term, a pressure maintenance strategy is planned to be
developed using a reservoir simulation. The simulation is anticipated to
identify longer term oil rates and reserves that are incremental to those
available through the existing vertical wells and initial horizontal well
drilling. 


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 term barrels of oil equivalent ("boe") may be
misleading, particularly if used in isolation. A boe conversion ratio of six
thousand cubic feet per barrel (6mcf/bbl) of natural gas to barrels of oil
equivalence is based on an energy equivalency conversion method primarily
applicable at the burner tip and does not represent a value equivalency at the
wellhead. All boe conversions herein are derived from converting gas to oil in
the ratio mix of six thousand cubic feet of gas to one barrel of oil.