Phoenix Oilfield Hauling Announces Closing of Private Placement and New Calgary Head Office

CALGARY, ALBERTA--(Marketwire - Jan. 27, 2011) -

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Phoenix Oilfield Hauling Inc. ("Phoenix" or the "Company") (TSX VENTURE:PHN) is pleased to announce it has closed its previously announced non-brokered private placement financing for common shares of the Company (the "Common Shares") at a price of $0.08 per Common Share for aggregate gross proceeds of $200,000 (the "Offering").

The Offering was fully subscribed and the proceeds will be used for general corporate purposes. The Common Shares issued pursuant to the Offering are subject to a 4 month hold period in Canada until May 28, 2011.

ABOUT PHOENIX OILFIELD HAULING INC.

Phoenix is a public energy services corporation operating in Western Canada, Texas and Pennsylvania and which trades on the TSXV under the symbol "PHN".