Huntington Exploration Inc.
TSX VENTURE : HEI

Huntington Exploration Inc.

April 30, 2007 16:55 ET

Huntington Exploration Inc. Financial and Operational Results

CALGARY, ALBERTA--(CCNMatthews - April 30, 2007) - Huntington Exploration Inc. ("Huntington") (TSX VENTURE:HEI) announces operating results for the year ended December 31, 2006.

Petroleum and natural gas revenue for the twelve months ended December 31, 2006 was $1,484,084 compared to revenue of $364,338 in 2005. Revenues for the year reflect the effect of lower natural gas prices for the year compared with 2005 despite an approximate seven fold increase in the volume of natural gas sold compared with the previous year.

Net loss for the year ended December 31, 2006, was $1,482,550, or ($0.06) per share, compared with a loss of $89,217, or ($0.01) per share, for the year ended December 31, 2005. The loss in the current year was affected by a ceiling test write-down of $1,171,000.

Funds provided by operations for the year ended December 31, 2006 were $632,663 compared with $77,060 for the year ended December 31, 2005.

Additional financial information and analysis can be found in the Corporation's Management Discussion and Analysis which can be accessed electronically from the SEDAR system at www.sedar.com.

Huntington also announces that it has filed its Form 51-101F1- Statement of Reserves Data and Other Information and Form 51-101-F3 Report of Management and Directors, under National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities. The filings can be accessed electronically from the SEDAR system at www.sedar.com.

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

This press release may contain forward-looking statements including management's assessment of future plans and operations and expectations of future production, cash flow and earnings. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: the risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses and health, safety and environmental risks), commodity price and exchange rate fluctuation and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.

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

Contact Information

  • 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)