Longford Energy Inc. announces $15 million underwritten private placement



    /NOT FOR ISSUE IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES/

    CALGARY, June 18 /CNW/ - Longford Energy Inc. ("Longford" or the
"Company") (TSX-V: LFD) is pleased to announce that it has entered into an
agreement with a syndicate of underwriters led by Canaccord Capital
Corporation. The Underwriters have agreed to purchase, on an underwritten
private placement basis, 18,750,000 units of the Company at a price of
$0.80 per unit for total gross proceeds of $15,000,000 (the "Offering"). Each
unit will be comprised of one common share and one-half of one share purchase
warrant, with each whole share purchase warrant entitling the holder thereof
to acquire one Longford common share at a price of $1.00 for a period of 24
months following closing.
    The Company intends to use the net proceeds from the financing for
general corporate purposes.
    The Company has granted the Underwriters an option to purchase an
additional 6,250,000 units at a price of $0.80 for a period of 30 days from
the closing of the Offering. In consideration for their efforts, the
Underwriters will receive a cash commission equal to 6% of the gross proceeds
of the Offering and be issued compensation options that will entitle them to
acquire that number of Longford common shares that is equal to 6% of the units
sold under the Offering for a period of twelve months from the closing date.
    The Offering is expected to close on or about July 10, 2008. The Offering
is subject to certain conditions including, but not limited to, the receipt of
all necessary regulatory approvals, including the approval of the TSX Venture
Exchange.

    About Longford Energy Inc.
    --------------------------
    Longford Energy Inc. is a junior Canadian oil and gas company actively
pursuing international exploration and development opportunities.

    Regulatory Statements

    This press release contains "forward looking information" within the
meaning of applicable Canadian securities legislation. Forward looking
information includes, but is not limited to, statements with respect to the
terms of the financing, the planned use of proceeds, and receipt of all
regulatory approvals. Generally, forward looking information can be identified
by the use of forward-looking terminology such as "plans", "expects" or "does
not expect", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases or state that certain actions, events or
results "may", "could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be materially
different from those expressed or implied by such forward-looking information,
including but not limited to: general business, economic, competitive,
geopolitical and social uncertainties; the actual results of exploration
activities; regulatory risks; risks inherent in foreign operations; and other
risks of the oil and gas industry. Although the Company has attempted to
identify important factors that could cause actual results to differ
materially from those contained in forward-looking information, there may be
other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such information will prove to be
accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward looking information. The Company does not undertake
to update any forward-looking information, except in accordance with
applicable securities laws.

    THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
    OR ACCURACY OF THIS RELEASE




For further information:

For further information: Ahmed S. Said, President and CEO, Tel: (403)
263-3000, Fax: (403) 263-3041, info@lonfordenergyinc.com

Organization Profile

Longford Energy Inc.

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