Huntington Exploration Inc. (TSX VENTURE:HEI) announces it has accepted an offer
from Riley Resources Inc., an arm's length party, to buy Huntington's entire
interest in the Pine Creek area of northwest Alberta for $600,000 cash. The
property comprises varying working interests in five wells and royalty interests
in an additional four wells located on approximately five gross sections of PNG
leases. Proceeds will be used to retire bank debt.


Huntington will retain its unitized producing interest in the Provost area of
eastern Alberta.


Huntington will be able to pursue strategic alternatives in the development of
its oil and gas exploration business as a result of the transaction.


The transaction is subject to certain conditions precedent including due
diligence and regulatory approval.
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