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

Energy Exploration Technologies Inc.

October 18, 2006 00:01 ET

NXT Announces Refinement of SFD Sensors and Completion of Second Phase of SFD Survey Contract

CALGARY, ALBERTA--(CCNMatthews - Oct. 18, 2006) - Energy Exploration Technologies Inc. (OTCBB:ENXTF) (FWB:EFW) ("NXT" or "the Company").

NXT is pleased to announce that the Company has completed the interpretation of the primary flight lines (second phase) under the Cdn. $1,200,000 SFD survey contract. This survey deployed the Company's new generation of SFD sensors resulting in a significant improvement in signal definition and repeatability.

"The refinement to the SFD sensors makes the interpretation process more understandable to our clients and reduces training time for our SFD interpreters," stated NXT CEO George Liszicasz. "We believe this is a key step towards the wider acceptance of the SFD Survey System."

The SFD airborne survey was conducted for both an emerging Canadian oil and gas exploration company and an established Canadian intermediate oil and gas producer over an area exceeding 5,000 net square kilometers within the Western Canadian Sedimentary Basin. The SFD interpretation process was completed within 10 weeks following the first survey flight and identified new prospects as well as existing fields within the survey area. These results have now been presented to our clients.

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