Phoenix Oilfield Hauling Inc.
TSX VENTURE : PHN

Phoenix Oilfield Hauling Inc.

August 15, 2006 16:38 ET

Phoenix Oilfield Hauling Inc. Announces Option Grants

NISKU, ALBERTA--(CCNMatthews - Aug. 15, 2006) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Phoenix Oilfield Hauling Inc. ("Phoenix" or the "Company") (TSX VENTURE:PHN) announces that pursuant to the terms of its stock option plan, it has granted options to purchase 1,755,000 common shares at a price of $1.00 per share to certain of its directors, officers and employees. 1,005,000 of the options vest 1/3 (one-third) per year over a three-year period and are exercisable for a five-year period. 750,000 of the options granted to the Chief Financial Officer vest 1/5 (one-fifth) per year over a five-year period and are exercisable for a five-year period.

Phoenix is a Nisku-based company specializing in the transportation of products, materials, supplies and equipment required for the exploration, development and production of petroleum resources.

Neither the TSX Venture Exchange (the "Exchange") nor any securities regulatory authority has in any way passed upon the merits of the transaction described in this press release and any representation to the contrary is an offence.

Contact Information

  • Phoenix Oilfield Hauling Inc.
    Doug Eger
    Vice-President of Finance and CFO
    (780) 955-8840