AAO Augusta Industries (delisted)

ARAPAHOE ENERGY CORPORATION ("Arapahoe") (TSX VENTURE:AAO) is pleased to
announce that its name has been changed from Arapahoe Energy Corporation to
"Canadian Phoenix Resources Corp.". The name change was approved by the
shareholders of the Corporation at the Special Meeting held on December 28,
2007.


Effective January 7, 2008, the common shares of the Corporation will commence
trading on the TSX Venture Exchange (symbol "CPH") under the name "Canadian
Phoenix Resources Corp.".


Arapahoe Energy Corporation is a publicly traded junior oil and gas exploration,
development and production company with operations in Western Canada. Arapahoe
is pursuing a corporate strategy of being a consolidator of undervalued oil and
gas assets located in the Western Canadian Sedimentary Basin. Arapahoe's shares
trade on the TSX Venture Exchange under the symbol "AAO". As noted above,
effective as of January 7, 2007, the shares of the Corporation will trade on the
TSX Venture Exchange under the symbol "CPH".


ON BEHALF OF THE BOARD OF DIRECTORS OF ARAPAHOE ENERGY CORPORATION

Robert J. Chenery, President & CEO

Forward-Looking Statements

This release may contain forward-looking statements. These statements are based
on management's current expectations and beliefs and are subject to a number of
risks and uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements. Forwardlooking
statements are not guarantees of future performance. Any forward-looking
statements are made as of the date hereof and Arapahoe does not undertake any
obligation, except as required under applicable law, to publicly update or
revise such statements to reflect new information, subsequent or otherwise.

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