Running Fox: Processing Resumes for Pincher Creek Natural Gas Field
7/30/2009 7:46:01 PM - Market Wire
CALGARY, ALBERTA, Jul 30, 2009 (Marketwire via COMTEX News Network) --
Running Fox Resource Corp. (TSX VENTURE:RUN)(PINK SHEETS:RFXRF)(FRANKFURT:C8Q)
Trent Moore, Vice President, reports:
The Company and its partners have been notified of a resumption in the processing of the Pincher Creek Natural Gas Field.
This follows a shut-in during modifications to optimize Shell Canada's Waterton gas plant. The Company's production is imminent as test volume restrictions are relaxed for the initial start-up phase of the upgraded plant.
Located in SouthWest Alberta, the Pincher Creek Field has several prospective and productive zones and many wells in the field are generally considered to have up to 50 years productive life.
Discussions with the technical team of the operator include a proven new multistage acid frac technique which greatly increased an area well's flow rate.
Trent Moore, VP comments "It will be nice to gather revenues again for the natural gas project since the upgrade period delayed sales, and we remain cautiously optimistic on the long term natural gas price trend. Eventually, increased natural gas prices will renew development and expansion plans at Pincher Creek."
Other than during the recent upgrade period, the Company and partners have produced natural gas and liquid condensates continuously since January 2006 from the Pincher Creek Project.
Running Fox is a Canadian small cap resource company that has interests in oil and gas, uranium, and high grade gold resource projects.
The Company also provides oilfield construction and maintenance services to other energy producers.
The Company has 41.2 million shares issued and outstanding and trades on the Toronto Stock Exchange- Venture Board. Visit www.foxgold.ca for further information.
On behalf of the Board of Directors:
Trent Moore, VP
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