Phoenix Oilfield Hauling Inc.
TSX VENTURE : PHN

Phoenix Oilfield Hauling Inc.

September 15, 2010 18:50 ET

Phoenix Oilfield Hauling Inc. Announces Cancellation of Stock Options

NISKU, ALBERTA--(Marketwire - Sept. 15, 2010) -

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Phoenix Oilfield Hauling Inc. (TSX VENTURE:PHN) ("Phoenix" or the "Company") announces that it is cancelling an aggregate of 1,575,000 stock options (the "Options") previously granted by the board of directors under the Company's stock option plan (the "Plan"). Following cancellation of the Options the Company will have 2,160,000 options issued under its rolling 10% Plan. At present, the Company has 168,541,317 issued and outstanding common shares. Any future options to directors, officers, employees and consultants will be granted, subject to TSX Venture Exchange ("TSXV") acceptance, on terms in accordance with the Company's Plan and with the policies of the TSXV.

ABOUT PHOENIX OILFIELD HAULING INC.

Phoenix is a public energy services corporation operating in Western Canada and the United States, 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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