Energy Exploration Technologies Inc.
OTC Bulletin Board : ENXTF
FRANKFURT : EFW

Energy Exploration Technologies Inc.

February 23, 2007 01:05 ET

NXT Announces Operational Update From an SFD Survey Client

CALGARY, ALBERTA--(CCNMatthews - Feb. 23, 2007) - Energy Exploration Technologies Inc. (OTCBB:ENXTF)(FRANKFURT:EFW) ("NXT" or "the Company"):

NXT is pleased to report that an SFD survey client, Nexstar Energy Ltd. ("Nexstar Energy") has issued a news release on February 21, 2007 providing an operational update including activities resulting from SFD surveys conducted by NXT in 2006 in the Swan Hills area of west central Alberta.

The following paragraph is a direct quote from the Nexstar Energy release:

SWAN HILLS

"During 2006, the Company and its 50% joint venture partner, a senior producer, completed a large airborne reconnaissance survey in the Swan Hills area of north central Alberta. This high-impact prospecting program has resulted in the identification of approximately 30 anomalous regions and the creation of 30 Areas of Mutual Interest ("AMIs") with its joint venture partner over lands encompassing approximately 650,000 gross acres. The Company has recently acquired working interests within two AMIs and has also secured access to 18 square miles of existing 3-D seismic and two farm-in and option agreements within a third AMI. Upon completing a review of the existing 3-D seismic, the drilling of a Company-operated exploratory well within the third AMI is anticipated prior to spring break-up, subject to surface access. Nexstar Energy plans to secure a joint venture participant for a portion of its 50% interest in the Swan Hills project area to assist with the purchase of Crown land and the detailed geological and geophysical evaluation of the numerous exploratory anomalies identified in this area."

"This is an excellent example how an oil and gas exploration and production company can utilize our SFD services for their advantage", stated President & CEO George Liszicasz. "SFD surveys provide information that leads to more rapid and cost effective prospect identification processes".

NXT is in the business of providing wide-area airborne exploration services to the oil and gas industry. The Company utilizes its proprietary SFD Survey System to offer its clients a unique, low cost service to rapidly identify sub-surface structures with reservoir potential in sedimentary basins with no environmental impact. The value of the service is providing clients with an efficient, cost effective method of surveying large areas and delivering an inventory of SFD prospects with high potential. The SFD-based exploration process substantially reduces the need for 2-D reconnaissance seismic thus saving clients valuable time and money.

Additional information about NXT and the SFD technology is available on the Company's website www.nxtenergy.com.

Forward-Looking Statements

This news release may include forward-looking statements including opinions, assumptions, estimates and expectations of future prospects for the Company and financial projections. 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 capital markets, the ability to obtain financing, changes in the oil and gas industry, operating risks, 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.

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

Contact Information

  • Energy Exploration Technologies Inc.
    George Liszicasz
    President and CEO
    (403) 264-7020
    or
    Energy Exploration Technologies Inc.
    Ken Rogers
    VP-Finance, CFO
    (403) 264-7020
    or
    Energy Exploration Technologies Inc.
    505 - 3rd Street, S.W., Suite 1400
    Calgary, Alberta, Canada T2P 3E6
    (403) 264-7020
    (403) 264-6442 (FAX)
    Email: info@nxtenergy.com
    Website: www.nxtenergy.com