Oil and Gas News

Fox Petroleum Management Pleased to Announce Receipt of Positive Third-Party Research

Report with Strong 12-Month Target Price of $5.50
LONDON–(BUSINESS WIRE)–Fox Petroleum Inc. (OTCBB: FXPE) (hereafter “Fox”) is pleased to announce that it has received positive feedback in a new third-party analyst report released on Tuesday by SISM Research & Investment Services. Authored by analyst Ernest C. Schlotter, the report ran under the title “We Believe Fox Is Currently Significantly Undervalued”.

“Despite encouraging fundamental improvements within the Company as well as record high oil prices, the stock of the Company came heavily under sell pressure and currently trades at $0.87, which is only 0.12 times our calculated heavily risked-adjusted Appraised Net Worth of $7.33 per share,” wrote Schlotter. “Despite a sharp price correction during the last four months we maintain our Speculative Buy/4 rating for Fox Petroleum and have arrived at a 12 to 18-month target price of $5.50, based on a 25% discount to our heavily risked Appraised Net Worth of $7.33.”

In line with Schlotter’s statements, the price of oil hit another record high yesterday, with crude oil for April delivery rising $4.89, or 4.9 percent, to $104.41 a barrel at close. The inflation-adjusted price of oil surpassed the 1981 record of $92.50 in today’s dollars in October of 2007.

Richard Moore, Chief Executive Officer, responded by saying, “With yesterday’s surge to a record high in the price of oil, we are pleased with the timeliness of the SISM report. We were previously aware of the sell-side pressure on our price, but were pleasantly surprised at the outside acknowledgement of our significant under valuation. The 12-month forecast by Mr. Schlotter gives us a positive goal that we feel is attainable with the 2008 program we have in place.”

The 6-page report in its entirety can be found at www.sism.com or downloaded directly from http://www.investrend.com/Admin/Topics/Articles/Resources/23_ 1204657186.pdf.

Further Information

Shareholders and prospective investors are encouraged to visit Fox Petroleum’s website: www.foxpetro.com and download Fox Petroleum’s Investor Summary. Please feel free to call investor relations toll-free at 1-888-369-4744 to receive a full corporate investor’s package.

About Fox Petroleum

Fox Petroleum Inc. is a Oil and Gas Exploration and Production Company headquartered in London, England, the financial capital of Europe. Fox also has an operations office in Anchorage, Alaska. Fox’s current targets include mineral rights to 32,000+ acres in Alaska’s North Slope estimated to represent a potential of up to 160 million barrels of oil (LAPP Resources, Inc.), and the rights to a 33.33% ownership stake in a 37,000+ acre UK North Sea license which could potentially hold up to 213 million barrels of oil (TRACS International Ltd). Fox has a 22.5% carried interest in producing onshore Texan gas well, and has also signed agreements to acquire roughly 14,000 acres on the North Slope and approximately 42,000 of land onshore in the Cook Inlet containing the Catcher’s Mitt Prospect. Fox signed an FIA for 46% of the 211/17 South block containing the Bourbon Prospect, estimated by Aimwell Energy Ltd to have a mid case recoverable reserve potential of 167 mmbo. Fox has also signed a purchase agreement for a 10-well drilling program on three leases totaling 320 acres in the Geneseo-Edwards field in Ellsworth County, Kansas. The Company’s shares are publicly traded on the NASD OTC BB under the ticker symbol FXPE.

On behalf of the Board of Directors

FOX PETROLEUM INC.

Alex Craven, Vice President, Finance

Legal Notice Regarding Forward-Looking Statements

Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Forward looking statements are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “aims”, “potential”, “goal”, “objective”, “prospective”, and similar expressions or that events or conditions “will”, “would”, “may”, “can”, “could” or “should” occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.

Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company’s ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in filings on Edgar of other junior oil and gas exploration companies with the US Securities and Exchange Commission.

Cautionary Note to U.S. Investors

The United States Securities and Exchange Commission (”SEC”) permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this news release, such as “mid case recoverable reserve potential” and “reserves of natural gas” that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. U.S. investors are urged to consider closely the disclosure in our annual report on Form 10-KSB and quarterly reports on Form 10-QSB available from us or the SEC.”

Contacts
Fox Petroleum Inc.
Investor Relations
Alex Craven, +1-888-FOX-4744 (1-888-369-4744)
Vice President, Finance
ir@foxpetro.com
www.foxpetro.com

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Tags: Fox, Management, Petroleum