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Saxon Oil, SXN.v



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By Bobwins

Posted: Wednesday Oct 15 9:10:28AM 2008

Wednesday October 15, 11:26 am ET DALLAS, Oct. 15 /CNW/ - Saxon Oil Company Ltd. ("Saxon (TSX VENTURE: SXN - News; FRANKFURT: OVG - News; BERLIN: OVG - News) announces ongoing activity in Kansas, New Mexico, Oklahoma and Texas. In Kansas, Saxon has purchased a 50 % working interest in 1,440 acres of producing leaseholds located in Ellsworth County, Kansas in the Green Garden (Lansing) oil field and the Rathbun (Wabaunsee) gas field. The acreage has eight oil wells and six gas wells plus a gas compression station and interconnection into an interstate gas pipeline. An enhanced waterflood is planned for the deeper (3,000 ft) oil wells and significant workover and drilling activity is anticipated for the multiple shallow (2,000 ft) gas horizons. Saxon and its partner closed on the acquisition on September 30, 2008. Mid Kansas Gas Gathering (MKGG), a joint venture between Central Kansas Gas Gathering, a wholly owned subsidiary of Saxon Oil Company, and American Energies, will acquire the compression station and gas interconnection and plans to construct additional gas gathering systems and facilities in the area. ADVERTISEMENT In New Mexico, the Eumont State No. 1 continues to flow oil at stabilized rates. Cumulative oil sales for the first 140 days of production exceeded 26,500 barrels of oil. Saxon owns a 15% working interest and a 12.5% net revenue interest in this well and offset locations. In Oklahoma, the Cimarex Weber State 5-13 located in Caddo County, Oklahoma reached a total depth of 16,250 feet. The well was evaluated with electric logs which indicated multiple gas bearing sands in the Skinner, Red Fork, Morrow and Springer intervals. Production casing was set to total depth and an initial completion attempt in the Springer sands is planned for late October. Saxon owns a .002848 % working interest in the Springer completion attempt but has a 3.44385 % working interest in the up-hole Red Fork sands. In Texas, Saxon has executed a farmout of the Heatherwood Prospect in Burleson and Milam Counties Texas to CH4 Energy II, LLC ("CH4"). The farmout calls for CH4 to drill a well on the leasehold by December 31, 2008 to a depth sufficient to test the Navarro formation. Saxon will receive a 25 % back-in after the payout of all costs incurred by CH4. About Saxon Oil Company Ltd: Saxon Oil Company is a Tier One Texas-based Canadian company, trading on the TSX Venture Exchange under the symbol SXN. The Company is an independent oil and gas company engaged in the acquisition, development and production of oil and natural gas reserves. The Company seeks to deliver strong shareholder returns through an effective exploration and development program that incorporates sound business practices with the latest oil field technologies. The goal is to steadily increase proven reserves of oil and natural gas - which, in turn, will lead to enhanced cash flows and earnings per share.

By suntor

Posted: Thursday Oct 2 12:36:18PM 2008

The PR is good but the market is in deep trouble. This stock should do good in the next few months when winter is here.

By Bobwins

Posted: Monday Sep 8 9:36:32AM 2008

Saxon halted for news this morning. Hope they are going ahead with more wells in New Mexico. Oil brings high cashflow. Bobwins

By Bobwins

Posted: Wednesday May 21 8:57:47AM 2008

SXN.v/SXNFF.pk .10 to C$.31 Saxon Announces New Mexico Oil Discovery Wednesday May 21, 11:50 am ET DALLAS, May 21 /CNW/ - Saxon Oil Company Ltd. ("Saxon") (TSX VENTURE: SXN - News; FRANKFURT: OVG - News; BERLIN: OVG - News; PINK SHEETS: SXNOF - News) announces the successful completion of the Eumont State No. 1 exploratory well in Lea County, New Mexico. The well was perforated from 3,962 to 3,968 ft in the Seven Rivers formation and initially flowed over 88 barrels of oil within two hours. The well was shut-in to move the rig off location and secure additional onsite storage tanks. The well flowed at daily rates exceeding 500 barrels of oil per day (bopd) with no water through a 48/64 inch choke during the first 24 hours of sustained production. Subsequently, the well choke size was decreased to 20/64 inch and the well tested at a stabilized rate of over 300 bopd with no water at over 150 lb per sq inch (psi) of tubing pressure. Saxon has a 15 % working interest in this well. ADVERTISEMENT "We are extremely pleased with this oil discovery," said Richard G. Green, president and CEO of Saxon, "not only with the initial high flow rate, but because it is flowing oil to the surface under its own pressure. Typically, in this part of the world, a newly completed oil well immediately requires some type of artificial lift to bring the oil to the surface. The Eumont well opens up a whole new area of opportunity for Saxon. We have identified at least four offset locations for development drilling. To say the least, this is a very exciting exploration discovery for Saxon and its partners." Saxon currently has production totaling more than 245 bbl of oil equivalent per day (boed) from over 100 wells located in Texas, New Mexico, North Dakota, Oklahoma, and Kansas. Saxon, through its wholly owned subsidiary, Central Kansas Gas Gathering System, owns 100 miles of gas gathering systems in Central Kansas. In addition, Saxon owns a 20% membership interest in AleAnna Resources LLC, which has a significant acreage position in the Po Valley, Italy. About Saxon Oil Company Ltd: ---------------------------- Saxon Oil Company is a Tier One Texas-based Canadian company, trading on the TSX Venture Exchange under the symbol SXN. The Company is an independent oil and gas company engaged in the acquisition, development and production of oil and natural gas reserves. The Company seeks to deliver strong shareholder returns through an effective exploration and development program that incorporates sound business practices with the latest oil field technologies. The goal is to steadily increase proven reserves of oil and natural gas - which, in turn, will lead to enhanced cash flows and earnings per share.

By Bobwins

Posted: Thursday May 15 11:34:59AM 2008

Here is a PR. Hard to believe this is worth bidding up the stock by 46%??? I guess I should have sold some at .22. Bobwins Saxon Begins Recompletion of New Mexico Exploratory Well DALLAS, May 15, 2008 (Canada NewsWire via COMTEX News Network) -- Saxon Oil Company Ltd. ("Saxon") (PINK SHEETS: SXNOF) (TSX VENTURE: SXN) (FRANKFURT: OVG) (BERLIN: OVG) has commenced recompletion of the Eumont State No. 1 well in Lea County, New Mexico. The well reached planned total depth of 5,020 ft in November 2007, after encountering substantial drilling problems. Saxon used a number of oilfield tools, including mud logs and open hole electrical, acoustic, and nuclear survey logs, to analyze the well potential. The first completion attempt, in a lower interval of the Seven Rivers formation, was judged non-commercial after an extended test (see press release dated April 15, 2008). The well is now being recompleted to a promising interval in the upper portion of the Seven Rivers formation. The ensuing well test should take 7 to 14 days. Saxon has a 15% working interest in this well. Richard G. Green, president and CEO of Saxon, said, "The Eumont State well encountered cavernous porosities in the Seven Rivers formation which led to significant drilling, evaluation and mechanical completion problems. However, some very prolific oil wells have encountered oil in caves, including the famous Portrero del Llano No.4 well drilled by Everett L. DeGolyer in 1910 near Veracruz, Mexico, which produced over 140 million barrels of oil. Although we do not believe we will recover oil reserves of this magnitude, we remain optimistic the Eumont State well has excellent potential to recover oil." Saxon currently has production totaling more than 220 bbl of oil equivalent per day (BOED) from over 100 wells located in Texas, New Mexico, North Dakota, Oklahoma, and Kansas. Saxon, through its wholly owned subsidiary, Central Kansas Gas Gathering System ("CKGG"), owns 100 miles of gas gathering systems in Central Kansas. About Saxon Oil Company Ltd:

By Bobwins

Posted: Thursday May 15 11:09:16AM 2008

Saxon is one of my energy orphans. +.07 to .ss today on 255K shares traded but no news???? Here is why I bought some shares. 1. Small production, around 200boepd, fairly new mgmt. Old mgmt liked small percentage interests in lots of wells. New mgmt wanted bigger impact situations. 2. Has been gathering gas pipeline systems and shutin gas wells in Kansas. These are shutin because the gas produced in this area is not up to the btu standards of the national sales pipelines. The low btu is caused by helium and CO2 contamination. Saxon is collecting these closed in assets at low prices and hopes to finance construction of a treatment facility to remove the helium and CO2 from the ngas and bring it up to pipeline standards. This would generate revs from the byproducts, both CO2 and helium are valuable, and also make many of these wells economic again. In addition, other shutin wells would reactivate wells and use the pipeline and the facility operated by Saxon to generate more fees. 3. Saxon has a high impact JV in Italy. Italy shutin all ngas wells many years ago. As the ngas situation in Europe has tightened and Russian supply is questioned for political reasons, Italy is now looking to encourage domestic production. This JV has acquired a big land position in a producing area with shutin wells that look to have significant production capacity. Will do seismic this fall and possibly drill early 09. Bobwins

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