Raja,
My apologies, I was in a rush when I sent my initial answer. If you perform an adiabatic calculation, i.e., using 'HP,' you will calculate a heat release of zero, since the enthalpy will not change. However, if you perform an isothermal calculation, you will be able to determine the heat release.
If you want to include other elements in your reactant stream, you will have to determine the fully oxidized products for that element, considering the combination of fuel and oxidizer element. In my opinion, the easiest way would be to determine which compounds result in the greatest heat release per unit mass of the initial fuel element. You should be able to determine that information from thermodynamic data for these compounds, which could be found in the JANAF tables available from the NIST website.
Best,
"Perfer et obdura, dolor hic tibi proderit olim" - Publius Ouidius Naso