Titan Exploration Closes Initial Public Offering

Titan Exploration Ltd. has successfully completed the closing of its initial public offering of 11,250 Units at a price of 1,000 per Unit, for gross proceeds of $11,250,000. The offering was fully subscribed, including the over-allotment option. J.F. Mackie & Company Ltd., as lead, and Canaccord Capital Corporation acted as agents for the offering. Each Unit consists of 400 Class A Shares at a price of $0.25 per share and 90 Class B Shares at a price of $10.00 per share.

The Company now has a total of 8,780,000 Class A Shares and 1,012,500 Class B Shares issued and outstanding, with the directors, officers and employees of Titan, in aggregate, holding 3,157,000 Class A Shares and 238,050 Class B Shares.

Actively engaged in the exploration for, the development and production of, natural gas and oil reserves, Titan's business strategy is to build sustainable and profitable per share growth through selective acquisitions and internally generated exploration and development drilling. Titan's initial areas of operational focus will be the Peace River Arch area of Alberta, Southern Alberta and Southwest Saskatchewan. Titan anticipates spudding its first well in the Gordondale area of Alberta in late May.

The Company's management team includes Trevor Spagrud, President and C.E.O., Bob Nickolson, Chief Operating Officer, Albert Stark, Vice President, Engineering, Bill Mitschke, Vice President, Exploration, Rick Gibbs, Vice President, Land and Shelley Weiss, Controller. Directors include Trevor Spagrud, Rick McHardy, Michael Stark, Paul Colborne and Rob Peters.

Titan's Class A Shares and Class B Shares have been conditionally approved for listing on the TSX Venture Exchange and are expected to begin trading by early May, 2004, under the symbols TTN.A and TTN.B.

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