Matador Exploration Inc.

Matador Exploration Inc.

March 14, 2005 17:20 ET

Matador Announces Closing of $1,500,000 Private Placement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MATADOR EXPLORATION INC.

TSX VENTURE SYMBOL: MXN

MARCH 14, 2005 - 17:20 ET

Matador Announces Closing of $1,500,000 Private
Placement

EDMONTON, ALBERTA--(CCNMatthews - March 14, 2005) - Matador Exploration
Inc. (TSX VENTURE:MXN) (the "Corporation") announces that it has closed
the non-brokered private placement of 4,000,000 units ("Units") at a
price of $0.375 per Unit for aggregate proceeds of $1,500000. Each Unit
consisted of one common share of the Corporation ("Common Share") and
one non-transferable share purchase warrant which entitles the holder to
acquire one additional Common Share at a price of $0.50 at any time
within two years of issuance.

The Units were issued to qualified purchasers in reliance upon
registration and prospectus exemptions in the applicable jurisdictions.
The Common Shares and Warrants comprising the Units and the Common
Shares issued upon exercise of the Warrants are subject to a restricted
period which expires on July 11, 2005.

In connection with the sale of 1,000,000 Units, the Corporation paid a
finder's fee/commission to Canaccord Capital Corporation in the sum of
$18,750, representing 5% of the gross proceeds from the sale of such
Units.

On behalf of the Board

Matador Exploration Inc.

John Williamson, P.Geol., President


-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Matador Exploration Inc.
    John Williamson
    President & CEO
    (780) 437-6624
    www.matadorex.com
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.