Fox Petroleum Inc. announced that it has completed a license application to become the designated Exploration Operator for an onshore UK license. This license application includes 4 blocks which are located in the southeastern region of the United Kingdom. Fox´s bid includes a work program comprising a new seismic survey (Estimated cost $500,000) with a follow up Drill or Drop exploration drilling program within a 3 year period. Fox intend to operate the license but will outsource the drilling and sub surface management. Fox will retain control and direction of all activities on the exploration acreage. Planning and execution of this operational activity will be conducted by the Fox Management and Advisory board. As part of its strategy Fox intends to engage a qualified contractor to provide license operations management, drilling and development expertise, and guidance on environmental regulations and health and safety matters.

Fox Petroleum Inc. provided evaluation results for the Bourbon prospect located in the central North Sea. As part of the farm-in agreement, Fox will be working with its joint-venture partners Valiant Petroleum Limited and Petrofac Energy Developments Limited to develop the project during 2008. Valiant Petroleum has contracted the oil services company RPS Energy to do a full analysis of the hydrocarbon bearing and economic potential of the Bourbon prospect as part of a Competent Persons Report on Valiant´s entire portfolio. RPS Energy provides technical and operational advice and input on commercial energy projects located around the world, from the start of a project right through the life cycle to completion.

On 01/15/2008, Fox Petroleum, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.