Fox Petroleum Enters Purchase Agreement For 3 Lease Blocks

(financialwire.net via COMTEX) -- FXPE | news | PowerRating | PR Charts -- March 6, 2008 (FinancialWire) Fox Petroleum Inc. (OTCBB: FXPE | news | PowerRating | PR Charts ) has entered into a purchase agreement for three lease blocks over which a 10 well drilling program is planned.

The program pertains to three leases totaling 320 acres in the Geneseo-Edwards field located in Ellsworth County, Kansas. An estimate on the cost of the program pegs each well at $182,000, for a total cost of $1.82 million. Fox plans to implement the program through 2008.

Targeting the Arbuckle formation, Hodgden and Associate estimate the 10 well program will yield in excess of 50,000 barrels per well. They have estimated a reward to risk ratio at approximately 22.5 to 1.

Fox Petroleum Inc. was enrolled in Investrend Research affiliate SISM Research's professional analyst program. Complete information is available at the company's InvestorPower(tm) page, which is accessible from http://www.investrend.com/company/list.asp?sPathParam=yes .

For up-to-the-minute news, features and links click on http://www.FinancialWire.net

FinancialWire is an independent, proprietary news service of Investrend Information, a division of Investrend Communications, Inc. It is not a press release service and receives no compensation from any company for its news or opinions. Other divisions of Investrend, however, provide shareholder empowerment platforms such as forums, independent research and webcasting. For more information or to receive the FirstAlert daily summary of news, commentary, research reports, webcasts, events and conference calls, click on http://www.investrend.com/contact.asp

For a free annual report on a company mentioned in the news, please click on http://investrend.ar.wilink.com/?level=279

To become an investor monitor of independent research for a company in which you are invested, go to the not-for-profit Shareholders Research Alliance, Inc. website by clicking on http://www.shareholdersresearch.com/

The FinancialWire NewsFeed is now available in multiple formats to your site or desktop, free. Click on: http://www.investrend.com/XmlFeeds?level=268

http://www.financialwire.net

More News:   Market Updates | Stock Alerts | All Trading News | Stock Index