Huntington Exploration Inc.

Huntington Exploration Inc.

August 22, 2005 15:18 ET

Huntington Closes Private Placement

CALGARY, ALBERTA--(CCNMatthews - Aug. 22, 2005) -


Huntington Exploration Inc. (TSX VENTURE:HEI) ("Huntington") is pleased to announce that it has completed the non-brokered private placement previously announced on August 9, 2005 (the "Private Placement") for the aggregate amount of 5,000,000 common shares issued on a flow-through basis (the "Flow-Through Shares"). On August 17, 2005, Huntington closed on 2,350,000 Flow-Through Shares and a further 2,650,000 Flow-Through Shares on August 19, 2005. The Flow-Through Shares were issued at a price of $0.20 per Flow-Through Share for total gross proceeds of $1,000,000. The Flow-Through Shares are subject to a four-month hold period and twenty-five percent (25%) of the issue was purchased by an insider. Commission was paid on $280,000 of the Private Placement.

The net proceeds of the Private Placement will be used will be used for funding the Corporation's exploration and development activities. Huntington is an exploration-focused company 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 press release may include forward-looking statements including opinions, assumptions, estimates and expectations of future production, cash flow and earnings. When used in this document, the words "anticipate", "believe", "estimate", "expect", "intend", "may" "project", "plan", "will", "should" and similar expressions are intended to be among the statements that identify forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, the volatility of oil and gas prices, the ability to implement corporate strategies, the state of domestic capital markets, the ability to obtain financing, changes in oil and gas acquisition and drilling programs, operating risks, production rates, reserve estimates, changes in general economic conditions and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy the securities in any jurisdiction. The common shares offered will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement.

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

Contact Information

  • Huntington Exploration Inc.
    C. Alan Smith
    (403) 237-7766
    (403) 237-6027 (FAX)
    Huntington Exploration Inc.
    Andrew S. Burgess
    Vice President
    (403) 237-7766
    (403) 237-6027 (FAX)