Social application ad network Lookery has gained notoriety in the Facebook application developer community in the past for its CPM guarantees on different segments of inventory. Today, the company announced a new guarantee for Q3 2008 – $0.15 CPM for developers who are willing to meet the following conditions:

• Commit 100% of your ad traffic to Lookery for the following countries: US, UK, Canada, Australia, New Zealand, Ireland, and South Africa (additional European and Middle Eastern countries may be added during the quarter)
• Run two ad placements per page above the fold
• Maintain a minimum of 25,000 page views per day
• Maintain a reasonable traffic quality in terms of clicks and conversions

While it’s not exactly clear by what is meant by “reasonable” click and conversion rates, developers achieving less than $0.15 CPM now have a floor from which to operate.

Find more data on what CPMs developers are making on Facebook here.