Running Fox Resource Corp.
TSX VENTURE : RUN
OTC Bulletin Board : RFXRF
FRANKFURT : C8Q

Running Fox Resource Corp.

November 06, 2006 16:47 ET

Running Fox- $2.45 Million Revolving Credit Line

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 6, 2006) - Running Fox Resource Corp. (TSX VENTURE:RUN) (OTCBB:RFXRF) (FWB:C8Q) Steven Schurman, CEO, reports:

Running Fox's operating subsidiary has been provided with a revolving credit line and related facility in the initial amount of $2.45 Million from the Royal Bank of Canada's Oil and Gas Group. The credit line will accrue interest on drawn amounts, if any, at the Canadian Prime Rate plus 0.75%. (currently 6.75% combined)

Well Completion Update: After various delays, completion operations on the Section 18 Kakwa well will soon continue with a frac procedure performed at the 3,100 meter level for prospective oil and natural gas.

Running Fox is an energy sector Canadian small cap company. It is exploring, developing and producing oil and natural gas interests in Canada, and is active in the oilfield service sector, earning revenues from gas pipeline tie-in, facilities construction, construction of field locations, gas plants, and oil and gas battery/field facilities. First nine months consolidated revenues were $5.150 Million, with net income prior to adjustments of $884,000. Visit www.foxgold.ca for further information.

On behalf of the Board of Directors;

Steven Schurman, CEO, US Professional Geologist

The Company relies on legislation applicable to forward looking statements, and seeks safe harbour.

The TSX-V has neither approved nor disapproved of the contents of this news release.

Contact Information

  • Running Fox Resource Corp.
    Steven Schurman, US Professional Geologist
    CEO
    (303) 619-5324
    Website: www.foxgold.ca