Loon Energy Inc.: Year End Financial Statements and MD&A for December 31, 2007

CALGARY, ALBERTA -- (MARKET WIRE) -- 04/24/08 -- Loon Energy Inc. ("Loon") (TSX VENTURE: LEY) announces that the audited financial statements and Management Discussion and Analysis ("MD&A") for the period ended December 31, 2007 have been filed on SEDAR (www.sedar.com).

Loon is an international oil and gas exploration and production company having direct interests in Brunei, Syria, Colombia, Peru and Slovenia and exposure to a major exploration and development program in Pakistan through its shareholding in Jura Energy Corporation. For further information, please refer to the Loon website (www.loon-energy.com).

Contacts: Loon Energy Inc. - Calgary, Canada Norman W. Holton Executive Chairman (403) 264-8877 Email: nholton@loon-energy.com

Loon Energy Inc. - Dubai, UAE Timothy M. Elliott President and Chief Executive Officer +971-4-339-5212 Email: telliott@loon-energy.com

Loon Energy Inc. - Dubai, UAE Jock M. Graham Executive Vice President +971-4-339-5212 Email: jgraham@loon-energy.com Website: www.loon-energy.com

Brisco Capital Partners Corp. (Calgary) Gordon Aldcorn Investor Relations (403) 262-9888 Email: galdcorn@shaw.ca

2008-04-24 17:30:04 0345007 MARKETWIRE