Phoenix Oilfield Hauling Inc.
TSX VENTURE : PHN

Phoenix Oilfield Hauling Inc.

January 27, 2011 18:20 ET

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".

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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