Fox Petroleum Announces Successful Drilling In Kansas' Geneseo-Edwards Field

Business Wire, Oct 20, 2008

LONDON -- Fox Petroleum Inc (OTCBB:FXPT) an independent oil and gas exploration and production company headquartered in London, England and focused on exploration and production in the USA and UK, is pleased to announce the success the first two Kansas wells of it's 10-well drilling program in the Geneseo-Edwards Field located in Ellsworth County. Early results suggest that each well will initially produce at least 1,500 barrels of oil per month, with sales of oil produced from the first well expected to be sold as early as this week. Fox anticipates that when the remaining wells are drilled, production from the acreage will increase to levels in excess of 15,000 barrels per month, generating significant near-term revenues to the company.

In addition to the first two wells, the third well in Fox's 10-well Kansas drilling program reached its total depth late last week. Initial results for the third well show estimated production numbers in line with the first two wells. Fox Petroleum anticipates production from the second well to start later this week, with additional hopes of the third well being in production this week as well. Spudding of the fourth well is expected later today. Plans are already underway to acquire further acreage in surrounding areas for further low risk in-field drilling.

Richard Moore, Fox's Chief Executive Officer, commented: "We are very pleased with the initial results of our Kansas drilling program. The production of the first two wells has exceeded expectations, and will hopefully be a trend that continues as we complete the rest of our 10-well program while assessing the addition of another four wells upon completion. Despite these early positive numbers, Fox is also looking at ways to boost production in the short term."

William MacNee, Fox's Chief Operating Officer, said, "We are pleased to be seeing the results of our drilling program, after it was delayed during the summer due to adverse weather. With a possible fourteen-well drilling program we intend to push hard to get as many wells as we can into full production as soon as possible. We are working towards increasing and maintaining production on these initial wells in the near term, as we see the big potential in the results we've received so far."

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 an Independent Oil and Gas Exploration and Production Company headquartered in London, England, the financial capital of Europe, with a further operations office in Anchorage, Alaska. Fox is focused on exploration and production in the USA (Alaska's North Slope and Cook Inlet, Texas and Kansas), and also on the UK's North Sea and onshore. The Company's shares are publicly traded on the NASD OTC BB under the ticker symbol FXPT.

On behalf of the Board of Directors

FOX PETROLEUM INC.

Alex Craven, Vice President, Finance

Legal Notice Regarding Forward-Looking Statements

Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements in this press release include that sales of the first well will commence this week; that the first two wells will produce 1,500 barrels of oil per month; that the second and third wells may be in production later this week; that the third well will most likely yield the same production as the first two wells; that Fox is looking at ways to boost initial production numbers; that Fox may increase its 10-well program to 14 wells; that Fox hopes to have the their interests in the field fully in production as soon as possible; and that likely production from the field could be in excess of 15,000 barrels per month.

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.