Phoenix Oilfield Hauling Inc. TSX VENTURE: PHN

NISKU, ALBERTA--(Marketwire - Jan. 7, 2009) -

THIS PRESS RELEASE IS NOT TO BE DISTRIBUTED TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.

Phoenix Oilfield Hauling Inc. (TSX VENTURE:PHN) ("Phoenix" or the "Company") announces that pursuant to the terms of its stock option plan, it has granted options to purchase 1,525,000 common shares at a price of $0.12 per share to certain of its directors, officers, employees and consultants, including 1,250,000 to directors and officers. The options vest one-third immediately and one-third on December 31, 2009 and December 31, 2010.

Phoenix is a Nisku-based oilfield transportation company operating a fleet of approximately 120 trucks working out of field locations in Nisku, Calgary, Strathmore, Grande Prairie and Slave Lake in Alberta and Mineral Wells in Texas.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of the contents of this news release.