Running Fox Resource Corp.

Running Fox Resource Corp.

March 18, 2008 19:22 ET

Running Fox- A Diversified Energy Entity: Acquires Specialty Oilfield Service Unit

CALGARY, ALBERTA--(Marketwire - March 18, 2008) - Running Fox Resource Corp. (TSX VENTURE:RUN) (PINK SHEETS:RFXRF) (FRANKFURT:C8Q)

Steven Schurman, P. Geol., (Colorado, U.S.), CEO, reports:

Running Fox Resource Corp. is developing assets and cash flow in four key divisions:

1. Energy Sector Oilfield Services and Environmentally Beneficial
2. Oil and Natural Gas Exploration and Production;
3. High-Grade Gold and Uranium Exploration Mineral Projects; and
4. Environmental Services: Encapsulation and Remediation For Oil/Gas and

Running Fox's first 9 month 07 revenues were $4.5 Million, with 12 months to be reported soon.

Recently, Running Fox Resource Corp. has entered into an Agreement to acquire 100% of a private Alberta oilfield services company which will operate as a subsidiary of Running Fox. Consideration is 2.4 million common shares, subject to TSX-V approval. The management team of the private company will remain and continue with Running Fox. The Alberta company brings strong personnel and technical expertise, and a significant equipment and asset base to Running Fox. It operates in a segment of the oilfield service sector that will be very complementary to Running Fox's existing oilfield service divisions. This transaction also adds in-house personnel and specialty equipment capabilities for growth in Running Fox's oil and natural gas exploration and production unit. Its services will also be useful for uranium exploration and resource quantification.

As at March 18, 2008, Running Fox has 38.8 Million shares outstanding with upside to energy, uranium, and gold prices.

On behalf of the Board of Directors: Steven Schurman

The Company relies on legislation for forward looking statements, seeking safe harbour.

Contact Information

  • Running Fox Resource Corp.
    Steven Schurman
    (403) 742-0527