June 4, 2010
Saxon Announces New Board Member
DALLAS , TX - Saxon Oil Company Ltd ("Saxon") (TSX VENTURE: SXN) (FRANKFURT:SXN) (BERLIN:SXN) an independent international oil and gas company, is pleased to announce the immediate appointment of Hank Swartout to the Board of Directors.
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April 23, 2010
Saxon Commences Drilling In Kansas
DALLAS - Saxon Oil Company Ltd. ("Saxon") (PINK SHEETS: SXNOF) (TSX VENTURE: SXN) (FRANKFURT: OVG) (BERLIN: OVG) announced today it has commenced drilling on the Tilley Painter No. 1-27 well in Stanton County, Kansas. The Saxon Tilley Painter No.1-27 well will be drilled to 5800 feet and is located within the boundaries of the prolific Arroyo field which produces both oil and gas from the Morrow sands. The well will be an offset location to a well which has produced over 260,000 barrels of oil and 1.4 billion cubic feet of gas. Saxon is the operator and has a 75 percent interest in the well.
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April 19, 2010
Saxon Oil Company Ltd. Announces Completion of Non brokered Private Placement and New President
DALLAS TEXAS – April 19, 2010 Saxon Oil Company Ltd. (“Saxon” or the “Company”) is pleased to announce that it has closed the previously announced non brokered private placement (“private placement”) and is announcing C. Ted Wooten as the new President of Saxon Oil Company Ltd. effective immediately.
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March 8, 2010
Saxon Oil Company Ltd. Announces Non-Brokered Private Placement
DALLAS TEXAS – March 8, 2010: Saxon Oil Company Ltd. (“Saxon” or the “Company”) is pleased to announce a non-brokered private placement (“Private Placement”), which will provide the Company with sufficient capital to further develop the potential of its international and domestic oil and gas projects. The Company has agreed to issue 95,559,452 shares at a price of C$.10 per share for gross proceeds of C$9.56mm. Each Unit will consist of one common share of Saxon at a price of C$0.10 per unit and one share purchase warrant. Each Warrant shall be exercisable into one common share at a price of C$0.15 for a period of two years from the completion of the placement.
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October 8, 2009
Saxon Extends Kansas Gas Gathering System
DALLAS - Saxon Oil Company Ltd. ("Saxon") (PINK SHEETS: SXNOF) (TSX VENTURE: SXN) (FRANKFURT: OVG) (BERLIN: OVG) announced today an 11-mile extension of the Ellsworth gas gathering system, a part of the Mid Kansas Gas Gathering (MKGG) joint venture. MKGG is a joint venture between Central Kansas Gas Gathering (CKGG), a wholly owned subsidiary of Saxon, and American Energies Corporation. MKGG began the project in June and completion is scheduled for early November. The extension will connect a newly discovered gas field, drilled on a large, shallow-depth structural feature covering over 20,000 acres, to a Northern Natural interstate pipeline.
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August 26, 2009
Saxon Engages SMH Capital, Inc. as Financial Advisor
DALLAS – Saxon Oil Company Ltd. (“Saxon”) (PINK SHEETS, SXNOF) (TXS VENTURE: SXN) (FRANKFURT: OVG) (BERLIN: OVG) has engaged SMH Capital, Inc. as exclusive financial advisor to consult with and assist the company in identifying, evaluating and executing one or more strategic alternatives available to Saxon. SMH Capital’s energy practice is based in Houston, Texas and provides full-service financial advisory and capital market services to oil and gas clients, including private placements, mergers and acquisitions, divestitures, restructurings and recapitalizations.
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August 17, 2009
Saxon Announces Flowing Completion in Eumont #2 Development well
DALLAS - Saxon Oil Company Ltd. ("Saxon") (PINK SHEETS: SXNOF) (TSX VENTURE: SXN) (FRANKFURT: OVG) (BERLIN: OVG) announces the Eumont State #2 development well in the Urssey Tank field of Lea County, New Mexico was successfully completed as a flowing oil well on August 12, 2009. During the first 24 hours, perforations at an undisclosed depth in the Seven Rivers formation were gauged at various choke sizes and tubing pressures with rates ranging from 11 to 52 barrels of oil per hour with no water. The operator plans to decrease the choke size to maximize ultimate oil recovery and produce this well at approximately 150 barrels of oil per day. Saxon has a 15 % working and 12.5 % net revenue interest in this well. First oil sales have occurred and Saxon anticipates first revenue during the late third quarter, 2009.
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August 4, 2009
Saxon Accelerates E & P Plans in Italy
DALLAS, TX. - Saxon Oil Company Ltd ("Saxon") (TSX VENTURE: SXN) (FRANKFURT:SXN) (BERLIN:SXN) (PINK SHEETS:SXNOF) is pleased to announce that AleAnna Resources LLC ("AleAnna") www.aleannaresources.com, of which Saxon owns a 20% membership interest, received formal approval and published decrees from the Italian Ministry of Economic Development granting exclusive exploration permits for six (6) years to AleAnna for both the Ponte Del Diavolo and the Ponte Dei Grilli applications located in the province of Ferrara, Emilia Romagna Region in north eastern Italy. The tracts lie in the Ferrara-Romagna Arc-NW Peri-Apenninic Foredeep. Italy has been a major gas producing region in Europe since the late 1940’s.
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June 30, 2009
Saxon Oil To Complete New Mexico Development Well
DALLAS - Saxon Oil Company Ltd. ("Saxon") (PINK SHEETS:SXNOF) (TSX VENTURE:SXN) (FRANKFURT:OVG) (BERLIN:OVG) announced today that completion work has commenced on the Eumont State #2 well in Lea County, New Mexico. The Eumont #2 well is the first development well in the Urssey Tank Seven Rivers field discovered in 2008. The Eumont #2 well offsets the Eumont State #1 discovery well, which has already produced over 60,000 barrels of oil since its completion in May 2008. The Eumont #2 well encountered the same subsurface zones of interest as the Eumont #1 well, and Saxon expects the Eumont #2 well to produce in a similar way. Saxon plans to monitor the production from this well for several months but it appears likely that the Eumont #2 well proved up additional drilling locations. Saxon owns a 15% working interest in the Urssey Tank Seven Rivers field.
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April 30, 2009
Saxon Oil Announces Financial Results for Year Ended 2008
Saxon Oil Company Ltd. ("Saxon”) (TSX VENTURE: SXN) (FRANKFURT: OVG) (BERLIN: OVG) announced today its results for the year ended December 31, 2008 and a summary of reserves, including reserves evaluation. The reserves and reserve evaluation have been independently assessed by LaRoche Petroleum Consultants, Ltd. in accordance with the standards specified by Canadian National Instrument 51-101. Full consolidated Financial Statements, Management's Discussion and Analysis (MD&A), and 51-101 filing can be accessed at www.sedar.com and on the Company's website www.saxonoil.com.
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March 25, 2009
Saxon Oil announces plans to drill Eumont #2 well in New Mexico
DALLAS - Saxon Oil Company Ltd. ("Saxon") (PINK SHEETS: SXNOF) (TSX VENTURE: SXN) (FRANKFURT: OVG) (BERLIN: OVG) announced today plans to drill the first offset to the Eumont State No. 1, which has now exceeded 50,000 barrels of cumulative oil sales since completion in May 2008. Eumont State No. 1 continues to flow 140 barrels of oil per day and is the discovery well for the Urssey Tank Seven Rivers field. Saxon has approved the drilling of the Eumont State No.2 well, a southeast offset well to the Eumont State No. 1. The Eumont State No. 2 should commence drilling in the near future and is planned as a 4,600-foot development well. Saxon owns a 15% working interest in the Eumont field wells and a 12.5% net revenue interest.
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March 24, 2009
Saxon Announces Completion of 3D Seismic Project in Italy
Saxon Oil Company Ltd. ("Saxon") (TSX VENTURE: SXN) (FRANKFURT: OVG) (BERLIN: OVG) announced today that AleAnna Resources, LLC ("AleAnna") has completed its 3D seismic program in the Corte dei Signori exploration permit area in Italy. AleAnna completed 128 sq kilometers (80 sq miles) of 3D seismic acquisition within a 4-month time period. Drilling could commence as early as the fourth quarter 2009 in this exploration permit area. Saxon owns a 20% membership interest in AleAnna.
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February 17, 2009
Saxon Oil Announces Increase of US Oil and Gas Reserves
DALLAS - Saxon Oil Company Ltd. ("Saxon”) (TSX.V:SXN) (FRANKFURT: OVG) (BERLIN: OVG) announced today that the company’s independent reserve auditors, LaRoche Petroleum Consultants, Ltd. ( LaRoche) of Dallas Texas, have completed the evaluation of the company’s reserves in the United States as of December 31, 2008. This report does not include any value for the Kansas Gas Gathering sytems or international reserves for Saxon’s interests in Italy (20% membership interest in AleAnna Resources LLC) and Spain (wholly owned subsidiary HDC).
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January 12, 2009
Saxon Announces Update on Italian Seismic Program
DALLAS - Saxon Oil Company Ltd. ("Saxon") (TSX VENTURE: SXN) (FRANKFURT: OVG) (BERLIN: OVG) announced today that the 3D seismic program on the Corte de Signori concession area in Po Valley of Italy is being carried out by AleAnna Resources, LLC (AleAnna). Saxon owns a 20% membership interest in AleAnna. The data acquisition began in early December in the southern portion of the concession and is proceeding northward across the region. Located south and west of Venice, this area of Italy is a relatively flat agricultural region with numerous drainage canals. Initial field processing is very promising and high quality information is apparently being gathered despite some weather delays. Seismic acquisition is expected to continue through January and February. Detailed interpretation is expected after additional processing of the seismic information in the second quarter of this year. Drilling could commence as early as the fourth quarter 2009.
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