SOURCE: Fox Petroleum, Inc.

Fox Petroleum, Inc.

September 13, 2011 08:00 ET

Fox Petroleum Announces Terms of Oil and Gas Acquisitions

Fox Petroleum to Acquire Renfro Energy LLC and Cameron Parish Pipelines LLC

NEW YORK, NY--(Marketwire - Sep 13, 2011) - Fox Petroleum Inc. (PINKSHEETS: FXPT) announced today that it is acquiring Renfro Energy LLC and Cameron Parish Pipelines LLC for three-hundred thousand dollars ($300,000) in cash.

Renfro Energy LLC is a Dallas, Texas based limited liability company formed in March 2002 as an asset holding company to house existing oil and gas assets located in Texas, Oklahoma and for acquisitions identified in Louisiana. Since 1995, Renfro Energy LLC and its predecessor company have bought and sold over $6 million of oil and gas properties through approximately fifteen acquisitions. The assets are located in the heart of the Johnson Bayou, Louisiana on the northern flank of the Cameron Meadows Salt Dome.

In 2003, Renfro Energy LLC obtained a new lease on the property and began operations. Estimated recoverable oil reserves from the current zones are 40,000 barrels with an additional 100,000 barrels of oil reserves from a behind pipe zone in one of the existing wells.

"Currently there are four wells on the property, two oil wells, one salt-water disposal and one shut in well with future utility," said James Renfro, President of Fox Petroleum Inc. "We fully expect that the two oil wells within thirty days expect to be producing between fifteen to twenty barrels a day or close to six hundred barrels per month," he added.

Mr. William Lieberman, CEO of Fox Petroleum, said, "We look very forward to these acquisitions that no doubt will add significantly to the bottom line of Fox Petroleum in due course. We feel that we are paying a very decent price for long term assets that have great value. We are very confident in working with Mr. Renfro in all capacities, and feel that all shareholders will benefit in the long term. This is strictly a cash deal to start, Fox Petroleum is giving up no equity at this time."

Fox Petroleum expects to complete the transaction of both Renfro Energy LLC and Cameron Parish Pipelines LLC by October 31, 2011 upon completion of PCAOB audits.

Forward-Looking Statements

This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission.

These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

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