SOURCE: Fox Petroleum Inc.

Fox Petroleum Inc.

October 18, 2010 08:30 ET

Fox Petroleum Green Energy Subsidiary to Increase Operating Capacity Ten Times to Process Up to 2.5 Million Pounds of Scrap Plastic per Month

NEW YORK, NY--(Marketwire - October 18, 2010) -  Fox Petroleum Inc. (PINKSHEETS: FXPT) announced today that Resource Polymers Inc, its Canadian operating subsidiary, finalized installation of its new green recycling line. 

The company purchased from bankruptcy a new 20" x 50" Cumberland Model 50B Granulator with a 150 Horse power motor. The new processing line put together with its vecoplan shredder will enable the company to process close to 3,500 pounds of scrap plastic per hour. 

The company expects that this subsidiary will process up to 30 Million pounds of post industrial and post consumer scrap plastics per year with revenues approaching 5 million dollars per year at these processing levels. Fox Petroleum is aggressively seeking additional acquisition targets in the plastics recycling market place.

"The new recycling line intends to move up recycling operations up from current levels of 250,000 lbs per month to approximately 2.5 million pounds per month within the next sixty to ninety days," said William Lieberman, President of Fox Petroleum Inc.

Resource Polymers Inc is involved in the processing and facilitating of plastic scrap compounds and its principals have been recycling in various capacities for close to twenty-five years. With a focus on its proprietary wash line, Resource Polymers handles different waste streams including polyethylene terephthalate (PET water bottles), Agricultural scrap (polystyrene), low and high density polyethylene and other assorted plastic compounds. The company has a proprietary grinding and extrusion line and currently processes close to 250,000 pounds per month.

About Fox Petroleum Inc. (PINKSHEETS: FXPT)

Fox Petroleum Inc is focused on acquiring, developing and operating plastic recycling operations throughout North America. With a focus on plastic waste compounds and the aggregating of plastic scrap products for manufactures. Fox Petroleum's goal is to become an important partner for leading recycling companies who need proficient services.

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.

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