BOCA RATON, Fla., Nov. 8, 2006 (PRIMEZONE) -- StockMarketNewsAlert.com issues new trade alert for Running Fox Resource Corp. (Pink Sheets:RFXRF) (TSX-V:RUN) (Frankfurt:C8Q). According to M. D'Alonzo at First Equity Group Inc., recent news flow from the company has been very positive.
Running Fox has reported that its subsidiary, Claymore Field Services, has successfully designed and developed a new technology for recycling expensive oil-based drilling fluids used during the well drilling process. A fully-working commercial-scale prototype has now been built and is being readied for field use with applications everywhere wells are drilled for oil and natural gas using oil-based drill fluids.
The technology is designed to complement conventional drilling rig equipment (shakers, centrifuges, dryers, etc) to make expensive drilling operations not only more environmentally friendly but also more cost effective by recycling and re-using oil-based drilling fluids typically destined for landfills or disposal sites. Further broader applications of this technology and other innovative ideas are being planned and bench-scale tested.
"What impresses me most about this technology and our development success," says Trent Moore, President, Claymore Field Services, "is how it was designed with a clear economic endpoint and technical application in mind. The cost savings in drilling fluid alone will more than cover the operating expense of the system. On an average well, it is estimated that this unit will retain an extra two cubes of drilling fluids, saving on average $2,000 per day of fluid, and saving further manpower and backhoe/vacuum truck costs. The savings for a deep well or a long drill program will be significant. These units can be manufactured and sent around the world after penetrating the Alberta and BC drilling markets where our immediate contacts are."
Moore stated that any oil company drilling with invert or oil-based drilling fluids carries the burden of rising oil prices into their drilling operations. Oil-based fluid prices have steadily climbed from $350 per cu. meter in 1998 to well over $1,000 for the same volume in today's market, he continued.
According to Moore, it is estimated that in 2007 there will be 2,200 wells drilled with oil-based fluids in Alberta and BC alone, spending in excess of $110 Million to recover fluids using man or dryer-based systems. Running Fox's new technology is expected to significantly reduce the costs involved in recovering the oil-based drilling fluids, while reducing landfill or hazardous facility disposal costs and associated effects on the environment.
Designed for both onshore and offshore drilling, the first unit will be rig-ready for applicable field testing on rig location by the month end.
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: Trent Moore, VP, Running Fox Resource Corp. 403 742 0507 www.foxgold.ca
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.
About StockMarketNewsAlert.com
StockMarketNewsAlert.com was developed solely for experienced, risk-tolerant investors. Subscribers to StockMarketNewsAlert.com receive daily market commentary reports for select companies trading on various markets. Sophisticated investors are also able to receive for free, select, rare research reports and investor kits on up and coming emerging companies while they are still not widely known.
StockMarketNewsAlert.com's (SMNA) primary focus is promoting awareness among brokers, investors, and others in the investment community who are interested in small- and micro-cap companies. StockMarketNewsAlert.com is dedicated to helping publicly traded companies gain the exposure they need to move forward with the development of their business plans. SMNA's goal is to feature equity investments in micro- or small-capitalization companies that have the potential for long-term appreciation. SMNA provides investors with a complete suite of online interactive financial data and tools that includes quotes, charts, company profiles, news, market commentary and SEC filings, just to name a few. StockMarketNewsAlert.com offers a free financial newsletter. To subscribe or get more information, visit our home page located at www.StockMarketNewsAlert.com.
Let StockMarketNewsAlert.com help advertise for your company using our effective awareness campaigns. If you're interested in telling your story, we can help. Contact us at info@stockmarketnewsalert.com. SMNA's e-mail alert service is free to those investors who sign up on the SMNA home page. The alert service is designed to notify investors of undervalued and often overlooked stocks. Subscribers are introduced to Special Situation companies that have the potential of showing increased activity. To subscribe to this free service, visit the StockMarketNewsAlert.com home page at http://www.StockMarketNewsAlert.com and select the "sign up" button.
Information contained herein is the opinion of StockMarketNewsAlert.com and is intended to be used strictly for informational purposes. You should be aware that SMNA attempts to assure itself of the accuracy of the information contained in the analyses it publishes. In this regard, SMNA does, at times, rely on the accuracy of information supplied to it by the companies, which are the subject of SMNA's analyses and/or parties related to those companies. SMNA also relies on the accuracy and integrity of information that is contained in company press releases and reports filed with the SEC. The companies mentioned in this publication have not approved the content or timing of the information being published unless otherwise noted.
SMNA, because it relies on information supplied by various third parties, disclaims any responsibility for the accuracy of such information. Any investor considering making an investment in any security which has been the subject of a SMNA analysis or opinion should, before making any such investment, consult with his/her market professional and/or do his/her own independent research regarding the company which is the subject of an SMNA opinion, recommendation or analysis.
Information regarding companies, which SMNA has an opinion upon, is normally available from many sources including the subject company's filings with the SEC and various press releases issued by the company.
All material herein is information supplied by the company or other sources believed to be reliable. The information contained herein is not guaranteed by First Equity Group, Inc. to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this profile have approved the statements made in this profile. This profile contains forward-looking statements that involve risks and uncertainties. Statements in this press release about the company's future expectations other than historical facts, are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, section 21E of the Securities Act of 1934, as that term is defined in the Private Securities Litigation Reform Act of 1995. It is important to note that actual results and ultimate corporate actions could differ materially from those in such forward-looking statements. Such "forward-looking statements" are subject to risks and uncertainties set forth from time to time in the company's SEC reports that could cause results to differ materially from those expressed or implied include, but are not limited to, the results of future tests and the availability of funding for additional research and development. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. First Equity Group is not a licensed broker, broker dealer, market maker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on http://www.stockmarketnewsalert.com. First Equity Group has received compensation of twenty thousand dollars from Running Fox. First Equity Group's affiliates, officers, directors, and employees may also have bought or may buy the shares discussed in this profile and may profit in the event those shares rise in value. First Equity Group does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market.