SOURCE: Running Fox Resource Corp.

November 13, 2006 09:14 ET

Running Fox Adds Deep Well Drill Targets and 15,000 More Oil and Gas Acres

VANCOUVER, BC -- (MARKET WIRE) -- November 13, 2006 --


Monday November 13, 2006

Running Fox Adds Deep Well Drill Targets and 15,000 More Oil and Gas Acres.

Trent Moore, Vice President, reports:

Running Fox has entered into an Agreement (subject to TSX-V approval), with a private Alberta Corporation ("Alberta Corp") whereby Running Fox participates in two new key projects:

Pincher Creek Project, Southwestern Alberta:

This Project consists of 14.5 sections or 9,280 acres of land, at least 2 deep targets, 2 re-completions and 3 infill wells. The terms are based on the participation in up to a 25% interest in a deep well at 6-12- 4-29W4. Running Fox will pay up to 25% of the capital costs to drill and complete the 6-12 well (pay 100 to earn 80), earning up to a 20% working interest in section 12 and in the south half of section 13, including all rights from surface to the base of the Rundle.

By participating in the 6-12 well, Running Fox further fully earns an undivided 25% working interest in all of Alberta Corp.'s interests in the balance of the remaining 13 sections of land, earning thereby into all 14.5 Sections.

This Project is contiguous with Running Fox's current acreage interests in the Pincher Creek area of southern Alberta with both oil and high pressure gas zones such as the Rundle (Livingston), where Running Fox is currently producing natural gas into the Shell Waterton Plant.

Lucy Project, North East British Columbia

Consists of 3 sections and a Keg River test to 2,500 metres, with numerous follow-up drilling opportunities, and a further plan covering 6 additional sections, total 9 sections or 5,760 acres.

Running Fox participates under the same terms as Alberta Corp., for net 10 % (100 % to earn 70 %) , which would reduce to 50 % if the well has very successful production flow rates. (based on natural gas pipeline deliverables of over ten million cubic feet a day, from the first well). Running Fox will reimburse due diligence and lease costs.

Running Fox thereby fully earns into the first 3 sections, and participates even-up in the remaining planned 6 sections. The project is located beside a major road and enjoys good infrastructure as well as access to natural gas sale lines. Primary producing zone target is Keg River reef, with secondary targets at various depths.

Under the terms of the Agreement, Alberta Corp. is the initial operator, while Running Fox's operating subsidiary, Claymore Field Services will be contracted to perform all the project oilfield services work that it can handle for both Projects.

Running Fox is an energy sector Canadian small cap company producing oil and natural gas and providing oil field services. First nine months consolidated revenues were $5.150 Million, with net income prior to adjustments of $884,000. Visit for further information.

On behalf of the Board of Directors, Trent Moore, Vice President, Director 403.742.0500 Alberta

The Company relies on legislation applicable to forward looking statements, and seeks safe harbour. The TSX-V has neither approved nor disapproved of this news release.

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