VANCOUVER, British Columbia, April 30, 2007 (PRIME NEWSWIRE) -- Running Fox Resource Corp. (TSX-V:RUN) (Pink Sheets:RFXRF) (FWB:C8Q). Trent Moore, VP, on behalf of the Board of Directors reports:
For the period ended 28 February 2007, the Company had gross revenues of $2,083,930 for the period and achieved a net income of $614,508. Running Fox is in the business of exploring, developing and producing natural gas interests in Canada and operating in the oilfield service sector with revenues from Claymore and Claresholm. For additional information please refer to their websites. Visit www.foxgold.ca for further information on 100% owned subsidiaries Claymore Field Services and Claresholm Rentals and Oilfield Services.
Update on current activities:
Claymore is currently in the process of installing pipeline and facility infrastructures in Central Alberta. The initial testing of Claymore's fluid recovery system was completed on low viscosity invert drilling fluids with great success. Claymore has taken the testing one step further. The new technology is currently working on a project in North Eastern Alberta in a high viscosity, heavy oil SAGD drilling program in conjunction with a major Canadian oil producer. Results so far have exceeded all expectations. For further information please view their website www.claymorefieldservices.com.
As previously announced on March 6, 2007, Running Fox has acquired Claresholm Rentals and Oilfield Services. The acquired company now operates as a subsidiary of Running Fox and had past year revenues of approx. $3.5 Million, with approx. $1.1 Million EBITDA, excluding one time bonus. The experienced management team has become part of the Running Fox family, expanding Running Fox's coverage area into Southern Alberta. Building growth from within the Fox network, sharing equipment and manpower with their sister company Claymore Field Services. For further information please view their website at: www.claresholmrentals.com
Running Fox is an energy sector Canadian small cap company with four distinct divisions:
1. Oil and Natural Gas Exploration and Production
2. Energy Sector Field Services, Construction and Technology
3. Advanced High-Grade Gold Project in British Columbia
4. Uranium prospects in northern Saskatchewan and Labrador
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 for further information.
Running Fox is working on further acquisitions and long-term cash flow development.
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 harbor.