Energy Exploration Technologies Inc.
OTC Bulletin Board : ENXTF

Energy Exploration Technologies Inc.

September 13, 2005 09:00 ET

NXT Hires Business Consultant for North American Operations

CALGARY, ALBERTA--(CCNMatthews - Sept. 13, 2005) - Energy Exploration Technologies Inc. (OTCBB:ENXTF) (FWB:EFW) ("NXT" or the "Company") is pleased to announce that the Company has engaged Mr. Peter A. Carwardine in the role of business consultant, North American Operations. His duties will include pursuing new survey contracts utilizing NXT's proprietary Stress Field Detection airborne survey system ("SFD") and the marketing of existing and future oil and gas prospects identified by NXT in North America.

Mr. Carwardine holds a Bachelor of Business Administration from the University of Texas and brings 30 years of oil and gas operational, business and land management experience to the Company. He is the President of Baycrest Energy Ltd., a private oil and gas consulting firm, and is a member of the CAPL, AAPL and a Director of the Small Explorers and Producers Association of Canada. Mr. Carwardine was previously a key member of the executive team responsible for building Encal Energy Ltd. into a senior producer listed on both the Toronto Stock Exchange and New York Stock Exchange until its sale in 2001 to a US based power producer for $1.7 Billion (Cdn.).

In 2002, Mr. Carwardine was appointed President, CEO and a Director of Virtus Energy Ltd., a Calgary based emerging oil and gas exploration and production company with operations in Western Canada. Mr. Carwardine was instrumental in the growth and development of Virtus from a production base of 50 boepd and few prospects to an entity of 800 boepd with an inventory of twenty undrilled locations in northeastern British Columbia and Alberta. Virtus was sold in June of 2005 in a deal valued at approximately $26.0 Million (Cdn.).

Mr. Carwardine has been involved in the utilization of NXT's proprietary SFD survey system since 1997. He was instrumental in the development of the airborne SFD survey system and has managed a number of SFD projects both at Encal and Virtus.

"We are pleased to have Peter with us. Our association goes back eight years and I have always appreciated his insight and understanding of the oil and gas business. Peter brings a wide range of experience and a strong background in all aspects of the petroleum industry, including contract negotiations, business development and operations." said George Liszicasz, President & CEO of NXT.

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, changes in oil and gas acquisition and drilling programs, operating risks, production rates, 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.

Oil equivalent amounts have been calculated using a conversion rate of six thousand cubic feet of natural gas to one barrel of oil. BOE's may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

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

Contact Information

  • Energy Exploration Technologies Inc.
    George Liszicasz
    President & CEO
    (403) 264-7020
    Energy Exploration Technologies Inc.
    840 - 7th Avenue S.W., Suite 700
    Calgary, Alberta, Canada T2P 3G2
    (403) 264-7020
    (403) 264-6442 (FAX)