VANCOUVER, British Columbia, Jan. 10, 2007 (PRIME NEWSWIRE) -- Running Fox (Pink Sheets:RFXRF) (TSX-V:RUN) has received the independent results of its recently announced field test from a 3rd party testing laboratory that confirm the effectiveness of the Company's new technology for oil-based drill fluid drilling operations.
The application is designed to be suitable everywhere wells are drilled for oil and natural gas using oil-based drill fluids. The commercial-scale unit complements 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 costs associated with oilfield waste.
Independent Laboratory Test Results:
Density of Drilling Fluid to Unit -- 1318.9 (kg/m3) Density of Return Fluid from Unit -- 951.4 (kg/m3) Thereby achieving an 88% reduction in particulates, saving money and reducing the burden on the environment. *Note that in this case the Base Fluid (pure, new fluid) density is 900 (kg/m3)
These results were from samples obtained during recent field tests using the unit on an actual well being drilled, with processing at high volumes of continuous fluid flow with no downtime or impairment to the well drilling operation.
The unit also stacks and partially drys the drill cuttings, making life easier for operations and saving overtime on the mixing side. The unit, which is designed for both onshore and offshore drilling, is the first commercial scale unit to exist anywhere in the world and is patent pending.
Recently the design team was able to reduce the construction costs for more units and Running Fox is already building its second unit due to demand from forward thinking oil and gas companies who have a penchant for embracing new technology that saves money by reducing drill fluid costs, trucking cost, labour costs, and helps the environment.
In an increasingly environmentally conscious industry, many oil and gas companies are seeking to reduce the impact of their operations on the environment prior to being mandated to do so by governing authorities, and particularly in environmentally sensitive onshore and offshore projects.
Running Fox is an energy sector Canadian small cap company with first nine months consolidated revenues of $5.150 Million with three divisions:
1. Oil and Natural Gas Exploration and Production;
2. Energy Sector Field Services, Construction and New Technology;
3. Advanced High-Grade Gold Project in British Columbia, and new
projects in review.
The Company is well leveraged to natural gas prices with its Alberta operations, and its high-grade BC gold project provides upside and leverage to the price of gold. Visit www.foxgold.ca
On behalf of the Board of Directors: Trent Moore, VP, 403 742 0500 The Company relies on legislation applicable to forward looking statements, and seeks safe harbour.