|By Marketwired .||
|July 4, 2014 09:00 AM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 07/04/14 -- Detector Exploration Ltd. (TSX VENTURE:DEX) ("Detector") is pleased to announce that it will be acquiring gas properties in the West Pembina area of Alberta. The properties were marketed in a divestiture package and include 85 sections of land and working interests in 60 shallow gas wells. At current gas prices the net production of approximately 1.3mmcf/d will add significantly to Detector's cash flow and aid in moving the balance sheet toward a positive cash flow.
Funds, approximately $650,000 Canadian dollars required to complete the transaction, are to be arranged through debt financing.
Detector is an oil and gas corporation whose shares are listed for trading on TSX Venture Exchange Inc. under the symbol DEX.
The officer responsible for issuance of this press release and who may be contacted for further information is:
Ronald E. Alexander, President Detector Exploration Ltd. Suite 300, 744 - 4th Avenue S.W. Calgary, Alberta, T2P 3T4 Telephone (403) 264-1880 Fax (403) 264-7401 Email: [email protected]
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Detector Exploration Ltd.
Ronald E. Alexander
(403) 264-7401 (FAX)