2010-04-09-2010-03-09

To acquire 20% WI in Blackrod oilsands property in Alberta.

Serrano Energy Ltd., a subsidiary of Canadian Phoenix Resources Corp., Calgary, (Toronto Venture: CXP) plans to sell its 20% working interest in an Alberta oilsands property to an unnamed buyer in an arm's length agreement for C$21 million. The Blackrod lease is near Fort McMurray in northern Alberta. Closing is expected by April 7.