CALGARY, ALBERTA--(CCNMatthews - Feb. 20, 2007) - LongBow Energy Corp. (TSX VENTURE:LBV) ("LongBow" or "the Company") is pleased to announce several changes and initiatives as it continues to expand its operations. The Company is please to announce the appointment of Mr. Robert Panasiuk as an independent member of the Board of Directors of the Company to fill the vacancy created by the resignation of Mr. McMorran in October 2006. Mr. Panasiuk is a businessman and lawyer with an involvement in the investment industry that dates back to 1987. He has provided financial planning and investment counsel to a wide variety of high-net-worth individuals on a range of asset categories including real estate, mining, and oil and gas companies. Mr. Panasiuk holds an LL.B. From Osgoode Hall Law School (York University), as well as an M.B.A from the Rotman School of Management (University of Toronto). In addition, Mr. Panasiuk is both a CFA (Chartered Financial Analyst) charterholder, (CFA Institute) and a CFP (Certified Financial Planner), FPSC (Financial Planners Standards Council). Mr. Panasiuk holds memberships in the Law Society of Upper Canada and the Toronto CFA Society. Mr. Panasiuk's appointment remains subject to the approval of the TSX Venture Exchange.

The Board of Directors of the Company is also pleased to announce the appointment of Mr. Charles Cook as President of the Company. Mr. Cook was previously VP of Business Development and Production. In 2002 Mr. Cook co-founded the Discovery Group with Mr. Kehoe. Over a twenty six year career in the Oil and Gas industry. Mr. Cook has directed and led large oil and gas investment programs that included responsibility for acquisitions, seismic, drilling, facilities and production. Mr. Cook's responsibilities in Alberta and British Columbia have included production levels of 60,000 boed with an annual investment program of $100 million. He managed a 200 person team with functional roles spanning operations, engineering, geology, geophysics, finance and land management. Mr. Cook has been responsible for developing strategies and mandates for both onshore and offshore Oil and Gas Investments including oil sands, secondary recovery, miscible floods and large oil and gas offshore projects. Mr. Cook has also served as the Manager of Corporate Risk for a large Energy Company identifying the material financial, investment, operational and market risks that an upstream oil and gas company faces.

As a result of Mr. Cook's appointment, Mr. Kehoe will relinquish his position as President and continue to serve as Chief Executive Officer of LongBow.

The Company also wishes to announce that its Board of Directors has called a meeting of shareholders (the "Meeting") to consider, among other things, a share consolidation on a one for ten basis. The Meeting will be held on April 5, 2007 and the record date for the Meeting is March 1, 2007. If the share consolidation is approved by the requisite majority of shareholders, the Company will also seek shareholder approval to change the name of the Company. The proposed share consolidation and name change are subject to shareholder and regulatory approval, including the approval of the TSX Venture Exchange. The Company believes a consolidation is in the best interests of shareholders as it will improve the Company's access to capital markets. As part of the Company's move toward a more conventional management structure, the Board of Directors has authorized its Audit Committee to negotiate the termination of its existing management agreement with Discovery Drilling Funds Management Inc. for cash, subject to receipt of an independent engineering evaluation and any necessary regulatory approvals.

Investors are cautioned that this news release contains forward looking information. Such information is subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information. Readers are cautioned not to place undue reliance on forward looking information, as no assurances can be given as to future results, levels of activity or achievement.

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

Source: CCNMatthews, http://www.ccnmatthews.com/news/releases/show.jsp?action=showRelease&
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