BOCA RATON, Fla., Nov. 22, 2006 (PRIMEZONE) -- StockMarketNewsAlert.com issues new trade alert for Running Fox Resource Corp. (Pink Sheets:RFXRF) (TSX-V:RUN) (Frankfurt:C8Q). According to M. D'Alonzo at First Equity Group Inc., recent news flow from the company has been very positive.
Trent Moore, VP, Running Fox Resource Corp announced that Running Fox's Claymore division has successfully designed and developed a new technology for recycling expensive oil-based drilling fluids, the Company is pleased to announce that the commercial-scale unit has been rig-mounted approximately 10 days ahead of schedule.
The application is designed to be suitable everywhere wells are drilled for oil and natural gas using oil-based drill fluids. Running Fox confirms that it intends to bring onstream further broader applications of this technology and other innovative ideas being planned and bench-scale tested.
The commercial-scale unit compliments conventional drilling rig equipment to make drilling operations cost effective and more environmentally friendly, reducing the volumes of drilling fluids sent to landfills or disposal sites, and reducing the costs associated with oilfield waste.
Several interested industry observers will be visiting the site and assessing this independent trial and test of the new technology and process which is expected to save $2,000 per day for an average well by retaining two cubes of drilling fluids in addition to reducing manpower and equipment costs.
The unit, which is designed for both onshore and offshore drilling, is the first commercial scale prototype known to exist anywhere in the world and is patent pending.
The exact coordinates for the independent field test will not be disclosed at this time, however the Company can confirm that it is located within Alberta, where it was developed.
Running Fox is an energy-sector Canadian small-cap company with three distinct divisions:
1. Oil and Natural Gas Exploration and Production; 2. Energy Sector Field Services and Construction; and 3. Advanced High-Grade Gold Project in British Columbia.
The combined market cap for Running Fox's three divisions is currently less than $30 million Canadian. First nine months consolidated revenues were $5.150 Million, with net income prior to adjustments of $884,000. Visit www.foxgold.ca for further information.
Revenues from its service division may in the future include incremental revenues from each commercial scale unit to be rig-mounted and put to work. The potential market for this 100%-owned technology is quite large. Initially, units will be built in-house by the Company's team, but larger unit volumes will be handled by outsourcing the manufacturing.
Trent Moore, Vice President, comments: " Its an exciting time for the Fox and for our new technology, putting the proof in the pudding will be rewarding, we are making progress."
On behalf of the Board of Directors: Trent Moore, VP, Running Fox Resource Corp.
The Company relies on legislation applicable to forward looking statements, and seeks safe harbour.
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All material herein is information supplied by the company or other sources believed to be reliable. The information contained herein is not guaranteed by First Equity Group, Inc. to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this profile have approved the statements made in this profile. This profile contains forward-looking statements that involve risks and uncertainties. Statements in this press release about the company's future expectations other than historical facts, are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, section 21E of the Securities Act of 1934, as that term is defined in the Private Securities Litigation Reform Act of 1995. It is important to note that actual results and ultimate corporate actions could differ materially from those in such forward-looking statements. Such "forward-looking statements" are subject to risks and uncertainties set forth from time to time in the company's SEC reports that could cause results to differ materially from those expressed or implied include, but are not limited to, the results of future tests and the availability of funding for additional research and development. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. First Equity Group is not a licensed broker, broker dealer, market maker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on http://www.stockmarketnewsalert.com. First Equity Group has received compensation of twenty thousand dollars from Running Fox. First Equity Group's affiliates, officers, directors, and employees may also have bought or may buy the shares discussed in this profile and may profit in the event those shares rise in value. First Equity Group does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market.