Goodwood to Propose New Slate of Directors for Longford Energy Inc.

TORONTO, July 10, 2012 /CNW/ - Goodwood Inc. ("Goodwood") announced today that it advised the Executive Chairman of Longford Energy Inc. ("Longford"), Mr. Stan Bharti, in a letter delivered on July 9, 2012 that Goodwood intends to propose a new slate of directors for election at the next annual meeting of the shareholders of Longford.

Following the delivery of Goodwood's July 9, 2012 letter, a notice was filed on behalf of Longford on SEDAR cancelling its upcoming annual shareholders' meeting that had previously been scheduled for August 9, 2012.  Longford is required by law to hold its next annual meeting of shareholders no later than September 9, 2012, but has to date not publicly announced when that meeting will now occur.

Further information regarding Goodwood's intended reconstitution of Longford's board of directors at its upcoming annual shareholders' meeting, and the new proposed director nominees, will be set forth in an information circular which Goodwood intends to file with Canadian securities regulators in due course.

Goodwood, as investment manager of certain investment funds, exercises control and direction over an aggregate of 21,970,000 common shares of Longford, representing approximately 12.1% of Longford's issued and outstanding common shares.

Peter H. Puccetti, CFA,
Chairman and Chief Investment Officer
Goodwood Inc.
416-203-2022 (telephone)
416-203-0734 (facsimile)