Crossfire Energy Services Announces Private Placement

    CALGARY, Oct. 17 /CNW/ - Crossfire Energy Services Inc. ("Crossfire" or
the "Company") today announced a non-brokered private placement of a maximum
of 4,000,000 Common Shares ("Share") at $0.50 per share for total gross
proceeds of $2,000,000. Crossfire will accept subscriptions for Shares from
registered investment dealers and others and may pay a cash commission and/or
issue compensation options to purchase Shares in accordance with the TSX
Venture Exchange Policies. The compensation options will be exercisable at
$0.50 per Share for one year from the date of issue. The private placement is
not subject to any minimum subscription amount and an initial closing is
expected during the week of October 22, 2007. Net proceeds of the private
placement will be used to establish an equipment rental business and for
working capital purposes.
    The private placement is being conducted under the Expedited Private
Placement Filing System of the TSX Venture Exchange and is subject to final
exchange acceptance.


    The Company's business strategy involves merging complimentary service
offerings together. As a result, it enables the Company to operate as a
one-stop-shop for the fabrication, construction and maintenance relating to
oilfield facilities. The strategy is guided by a focus to be recognized as a
specialist in the fabrication of a wide scope of oilfield facility components,
manufacturing subcontractor for major energy facilities projects, as well as
the construction and maintenance of oilfield facilities and pipeline.

    Crossfire is a full-service provider of design, fabrication and
installation of oilfield facilities and carries on business under the name
Crossfire Energy Services. The company's success is built upon a commitment to
build long-term relationships with clients, employees and investors. Crossfire
is a publicly traded company on the TSX Venture Exchange, symbol CFE.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

For further information:

For further information: Dean Bethune, President & CEO, Crossfire Energy
Services Inc., Suite 1700, 800 - 6th Avenue SW, Calgary, AB T2P 3G3,,, (403) 237-5115; A. Scott
Hamilton, Chief Financial Officer, Crossfire Energy Services Inc., Suite 1700,
800 - 6th Avenue SW, Calgary, AB T2P 3G3,

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