Phoenix Canada Oil Joins Power Utility Consortium in $10-million Replacement

Toronto: 07 September 2011 — Phoenix Canada Oil Company Limited, (TSXV: PCO and OTC BB: PHXCF) announced major funding of a large-scale hydrogen generation R&D program employing advanced water-splitting technologies described as the copper-chlorine (CuCl) cycle and solar photocatalysis. The project includes $10-million cash and in-kind funding from the Ontario Ministry of Research and Innovation, Atomic Energy of Canada, Ontario Power Generation (Ontario’s power utility), and Phoenix, among other major industry partners.

The Phoenix ongoing replacement energy research collaboration with the University of Ontario Institute of Technology (UOIT) will significantly support and expand UOIT’s long term Advanced Energy Systems project under the direction of Dr. Greg Naterer, Canada Research Chair in the Faculty of Engineering and Applied Science, a leading research scientist in cutting-edge replacement energy technologies. Hydrogen’s global market is presently estimated at $300-billion annually, and expanding over 10% yearly. Hydrogen is the essential element in commercial heavy oil upgrading.

Don Moore, Phoenix CEO, comments that “With world oil demand now at 86-million barrels daily, a hard number, each billion barrel discovery covers only 12 days of current consumption. With billion barrel discoveries a rare event, hydrogen’s replacement of conventional energies may well be essential for the survival of our civilization, as we now know it. And as for shale gas now pressuring energy market prices, the feasibility of gas production from tight shale formations, with its low porosity and permeability, suggests inherently limited reserves from this source.”

About Phoenix:
With its proprietary Synfuel technology, Phoenix has filed for U.S. and international patents covering the innovative compounding of hydrogen with captured carbon emissions. Synfuel’s exclusive hydrogen and carbon components both derive from widely diverse sources. The Synfuel equivalent of liquid transportation fuels, ranging from light-end jet fuel and kerosene, to mid-range gasoline, and through heavy-end diesel oil products, can all employ long established distribution infrastructure. This technology will also play a central role in advancing economic Carbon Capture and Storage/Sequestration (CCS) methods that will be upgraded by the environmentally benign Phoenix Carbon Capture and Recycling (CCR) system. Including its position in the innovative Lawrence Berkeley hydrogen generation project, Phoenix has expanded its planning for a leading role in the future “Hydrogen Economy” through the control of proprietary technology covering the light-powered generation of low cost hydrogen gas from an ordinary water feedstock.

For further information — Contact:
S. Donald Moore; President & CEO

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