Detector Exploration Ltd.

September 19, 2005 15:47 ET

Detector Announces Issuance of Shares in Exchange for Seismic

CALGARY, ALBERTA--(CCNMatthews - Sept. 19, 2005) - DETECTOR EXPLORATION LTD. (TSX VENTURE:DEX) ("Detector") announces that Detector will be issuing 100,000 Common Shares at an attributed price of $0.45 per share ($45,000 in total) to an arms length party in exchange for access to approximately 346 kilometers of seismic data located generally in the Southeast portion of Alberta.

The transaction qualifies as an "Expedited Acquisition" under TSX-Venture exchange rules.

Detector is an oil and gas corporation whose shares are listed for trading on TSX Venture Exchange Inc.

As of September 16, 2005 Detector has outstanding 9,418,701 Common Shares (not including the 100,000 to be issued pursuant to transaction disclosed in this press release), and 800,000 options to acquire Common Shares. Additionally, Detector has determined that Detector's "public float" (the number of shares outstanding not held by directors, officers, promoters, 10% shareholders or their affiliates, spouses, and other associates and not under any hold period or escrow restrictions) was 4,286,668 based on information provided to Detector by its insiders.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Detector Exploration Ltd.
    Ronald E. Alexander
    (403) 264-1880
    (403) 265-9105 (FAX)
    Detector Exploration Ltd.
    #650, 520 - 5th Avenue S.W.
    Calgary, Alberta, T2P 3R7