Loon Makes Two Appointments to its Board

Loon Energy announces two appointments to its board of directors, both of which bring substantial financial and scientific expertise to the board, and the appointment of a Vice President Operations & Engineering.

Manoj Narender Madnani, a member of the Executive Board of Kulczyk Investment House S.a,r,l., the major shareholder of the Company, has joined the board of directors of Loon. He is also a director and Co-Chairman of TRIGON Investment Bank based in Warsaw, Poland. Manoj's particular expertise is in energy, and infrastructure in emerging markets. He has extensive M&A experience in Poland, the, Middle East, India, Hong Kong and Central & South America and a background in corporate finance, deal sourcing and advising on international transactions and corporate strategy.

Gary R. King, Chief Executive Officer of the Dubai Mercantile Exchange, has also joined the board of directors of Loon. Prior to his appointment with DME he was a Senior Vice President in Macquarie Bank's joint venture with the Abu Dhabi Commercial Bank. Prior experience comprises more than 25 years in the energy and financial sectors with a variety of companies including Morgan Stanley, Emirates National Oil Company and Standard Bank. Gary is also a senior advisor to Porton Capital, a fund management group based in London, UK.

Edwin A. Beaman has been appointed a Vice President Operations & Engineering reflecting the expanding level of activity at Loon. He was previously Vice President Production & Engineering with the TUSK group of companies (TUSK Energy Inc., TKE Energy Trust, TUSK Energy Corporation) from 1998 to 2007. Prior to that time he held positions of growing responsibility with a number of junior oil and gas companies in Canada. Ed served as a director of the Company from June 2004 until his appointment as an officer and has acted as advisor to the Company on engineering and production matters for more than five years.

Loon is an international oil and gas exploration and production company having direct interests in Brunei, Syria, Colombia, Peru, Tunisia and Slovenia. The Company has an exposure to a major exploration and development program in Pakistan through its shareholding in Jura Energy Corporation. Loon has offices in Calgary, Alberta, Canada, Dubai, United Arab Emirates and Bandar Seri Begawan, Brunei Darussalam.