Fox Petroleum To Take Over Leases In Louisiana

To purchase oil leases in Grand Cheniere Field in Cameron Parrish, LA, gaining 10 BO/d.

Fox Petroleum Inc., New York, (Pink Sheets: FXPT) plans to take over existing operations of oil leases located in the Grand Cheniere Field in Cameron Parish, Louisiana from an undisclosed central Texas-based oil company for an undisclosed price.

Currently the property has one oil well that can produce approximately 10 barrels a day and one salt water disposal well.

Fox president James Renfro says, “An opportunity to purchase additional working interest and joint involvement in other projects is also contemplated.”