April 30, 2007
TSX-V:LEY

NEWS RELEASE

Reserves Information Disclosure

Loon Energy Inc. (“Loon”) (TSX-V:LEY) announces that it has filed with Canadian securities authorities the Company’s Statement of Reserves Data and Other Oil and Gas Information pursuant to National Instrument 51-101, including Forms 51-101F1, 51-101F2 and 51-101F3. Copies of these documents may be obtained through SEDAR at www.sedar.com or on the Company’s website at www.loon-energy.com.

Some of the statements contained in this release may be forward-looking statements. Forward-looking statements may include, but are not limited to, statements concerning estimates of recoverable hydrocarbons, expected hydrocarbon prices, expected costs, statements relating to the continued advancement of the Company’s projects and other statements which are not historical facts. When used in this document, and in other published information of the Company, the words such as “could,” “estimate,” “expect,” “intend,” “may,” “potential,” “should,” and similar expressions are indicative of a forward-looking statement. Although the Company believes that its expectations reflected in the forward-looking statements are reasonable, the potential results suggested by such statements involve risk and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Various factors, which could cause actual
results to differ from these forward-looking statements, include the potential that the Company’s projects will experience technical and mechanical problems, geological conditions in the reservoir which may negatively impact levels of oil and gas production and changes in product prices and other risks not anticipated by the Company or disclosed in the Company’s published material. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.

The TSX Venture Exchange neither approves nor disapproves of the information contained herein.