Huntington Exploration Inc.

Huntington Exploration Inc.

January 04, 2005 09:40 ET

Huntington Exploration Inc.: Closing of Private Placement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: HUNTINGTON EXPLORATION INC.

TSX VENTURE SYMBOL: HEI

JANUARY 4, 2005 - 09:40 ET

Huntington Exploration Inc.: Closing of Private
Placement

CALGARY, ALBERTA--(CCNMatthews - Jan. 4, 2005) - Huntington Exploration
Inc. (TSX VENTURE:HEI) ("Huntington") announces that it closed a private
placement of 2,666,667 units consisting of one common share and one
common share purchase warrant priced at $0.15 per unit for total gross
proceeds of $400,000 on December 31, 2004. The common share is issued on
a flow-through basis. The common share purchase warrant is exercisable
at $0.20 per share until September 30, 2005. The units are subject to a
four-month hold period. The proceeds will be used to fund the joint
venture oil and gas drilling program previously announced.

Huntington is actively pursuing opportunities in the petroleum and
natural gas business in the Western Canadian sedimentary basin.

Huntington Exploration Inc. is listed on the TSX Venture Exchange under
the symbol "HEI".

This news release is not for dissemination in the United States or to
any United States news services. The common shares have not and will not
be registered under the United States Securities Act of 1933 as amended
('the US Securities Act") or any state securities laws and may not be
offered or sold in the United States except in certain transactions
exempt from the registration requirements of the US Securities Act and
applicable state securities laws.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Huntington Exploration Inc.
    C. Alan Smith
    C.E.O.
    (403) 237-7766
    (403) 237-6027 (FAX)
    or
    Huntington Exploration Inc.
    Andrew S. Burgess
    Vice President
    (403) 237-7766
    (403) 237-6027 (FAX)
    The TSX Venture Exchange has neither approved nor disapproved the
    information contained herein.