Energy Exploration Technologies Inc.
OTC Bulletin Board : ENXTE

Energy Exploration Technologies Inc.

September 21, 2005 09:00 ET

NXT Announces Initial Closing of Financing

CALGARY, ALBERTA--(CCNMatthews - Sept. 21, 2005) - Energy Exploration Technologies Inc. ("NXT" or "the Company") (OTCBB:ENXTE)(FRANKFURT:EFW) -

NXT is pleased to announce an initial closing of $1.35 Million U.S. of Convertible Debt under its previously announced $1.50 Million U.S. interim financing in conjunction with a Canadian corporate finance firm. The Company has received additional written requests to participate in this financing and anticipates a final closing in the near future.

Subscribers will be issued Convertible Debt which bears an annual coupon rate of 10% and a basic conversion price of $0.70 per common share over an 18-month term with an attached full warrant priced at $1.00 exercisable for a period of two years.

Proceeds will be applied by the Company to continue current business operations and to pursue commercial agreements to utilize NXT's proprietary SFD Survey System in North America and abroad.

Forward-Looking Statements

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, operating risks, 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.

Neither the NASDAQ nor the Frankfurt Exchanges has reviewed and do not accept responsibility for the adequacy or accuracy of this release.

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