(TSXV Symbol: EXX)
VANCOUVER, Dec. 30 /CNW Telbec/ - Exxel Energy Corp. (the "Company") is
pleased to announce the following lease update. The oil and gas leases have
been acquired by Exxel Energy (USA) Inc. ("Exxel"), a wholly owned subsidiary
of the Company.
Columbia River Basin, Washington
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Exxel recently acquired oil and gas mineral rights to 29,201 acres of
federally-owned lands. The acquisition increases Exxel's total leasehold
position in the Columbia River Basin to over 81,000 acres. The leasehold
interests are undeveloped and Exxel's working interest is 100 percent.
Great Basin, Nevada Oil and Gas Fairway
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Exxel recently acquired leasehold interests with oil and gas mineral
rights to 32,096 acres in the Nevada Oil and Gas Fairway. The leasehold
interests are undeveloped and Exxel's working interest is 100 percent and are
subject to the terms of the "Acquisition Agreement" with Chamberlain
Exploration Development and Research Stratigraphic Corporation ("Cedar
Strat"), a private Nevada corporation as previously announced by the Company
on June 9, 2005. Cedar Strat will continue to assemble acreage within two
areas of interest for the Company's benefit. With the recent leasehold
acquisition along with leases currently being assigned from Cedar Strat to
Exxel, Exxel's leasehold interests in the Great Basin total more than
183,000 acres.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
