Red Herring Selects ORYXE Energy International for Prestigious Red Herring Top 100 Innovators Award

Award Recognizes 100 Companies that Embody Innovation

Irvine , Calif. – December 7, 2004 – ORYXE Energy International has been selected as a Top 100 Innovator by Red Herring.

ORYXE Energy, which develops and markets proprietary, organic fuel additives for diesel, gasoline and heavy distillates to enable these fuels to burn cleaner, thus reducing toxic environmental emissions, was selected after a rigorous nomination process. Red Herring editors reviewed 1,200 applications from more than 900 companies, using a careful analysis of financial data as well as subjective criteria, including quality of management, execution of strategy and dedication to research and development.

ORYXE Energy’s first product to market, ORYXE LED, was a key factor in the Company’s selection. Recently, ORYXE LED became the first and only splash-blended diesel additive to win approval by the Texas Commission on Environmental Quality (TCEQ) to produce a qualifying fuel that meets Texas Low Emission Diesel requirements.

“Selection for the Innovation 100 puts a company in an elite group. The editors worked hard to identify the companies who will benefit from the important technology trends in the coming year,” said Joel Dreyfuss, Editor-in-Chief of Red Herring.

“We are honored to be recognized by the editors of Red Herring, who are experts at identifying ground-breaking products and companies,” said Walter Schindler, Chairman of the Board and CEO of ORYXE Energy International. “We founded our company in 2001 with the mission of developing innovative, cost-effective solutions to providing cleaner-burning, more efficient fuel. As our first product goes to market, it is exciting that ORYXE Energy’s achievements and potential have been formally recognized by Red Herring.”

Schindler is accepting the award on behalf of ORYXE Energy at Red Herring’s Fall Conference in Monterey, California Dec. 6-8. The 100 Top Innovators are featured in Red Herring’s Dec. 13 issue.

ORYXE LED, the ORYXE Energy diesel additive, has been proven by independent, EPA-certified laboratories to significantly reduce toxic emissions from diesel fuel.

"In all my years, as a regulator and lawyer, I've never seen such a claim borne out so convincingly and with as much potential for significant public health benefits," said Greg Cooke, formerly chief of the Environmental Protection Agency's Southwest Region.

ORYXE LED is a solution to the long-standing, so-called “boutique” diesel dilemma in Texas. “Boutique” refers to the numerous specialty products that must be produced by energy companies to meet federal, state and local regulations. Many energy companies have gone on public record opposing boutique fuels because they interfere with the industry’s ability to supply the marketplace, due to the constraints on refining and distribution infrastructure in producing, shipping and storing the multiple varieties of fuel.

The Texas Commission’s decision to allow ORYXE Energy to distribute its product for use in Texas will help alleviate supply concerns when new regulatory mandates, requiring on-road and off-road diesel to meet strict guidelines for emissions reductions, are enforced beginning Oct. 1, 2005. ORYXE Energy’s solution does not require the enormous capital investments in infrastructure modifications associated with producing boutique diesel. ORYXE LED can be splash-blended with today’s standard federal diesel at the end of production with minimal hardware expense.

ORYXE LED’s approval by the TCEQ followed a rigorous engine testing protocol performed at the West Virginia University National Research Center for Alternative Fuels, Engines, and Emissions laboratory, recognized by the Environmental Protection Agency and certified by the California Air Resources Board. The tests were conducted under strict federal testing guidelines and procedures.

The tests showed that ORYXE LED demonstrated a greater than 5.7 percent reduction in Oxides of Nitrogen (NOx), greater than 20 percent reduction in Total Hydrocarbons ( THC), the main contributors to smog formation, and approximately 10 percent reduction in Carbon Monoxide (CO), a poisonous gas, all major concerns for Texas air quality stewards. Widespread use of ORYXE LED in diesel fuel would result in reducing up to 6,000 tons of NOx annually.

About ORYXE Energy
ORYXE Energy International, Inc., (www.oryxe-energy.com) based in Irvine, Calif., develops, certifies and distributes proprietary, organic additives that improve fuel performance and reduce toxic emissions from the combustion of hydrocarbons, such as diesel fuel and gasoline. The company holds one U.S. patent and 11 filed patent applications in prosecution.

Odyssey Venture Partners (www.odysseyventure.com) of Newport Beach, Calif., is the lead venture capital investor in ORYXE Energy.

Forward-Looking Statements
Estimates, expectations and business plans are forward-looking statements. Actual future results, including product introduction schedules, market receptiveness, regulatory approvals and commercial viability, could differ materially due to changes in conditions affecting the industry, political, legal or regulatory developments, and market conditions.