DALLAS, November 26 /CNW/ - Saxon Oil Company Ltd. ("Saxon") (PINK SHEETS: SXNOF.PK) (TSX VENTURE: SXN.V) (FRANKFURT: OVG.F) (BERLIN: OVG.BE) announced today that the operator of the Eumont State #1 well in Lea County, New Mexico, has commenced completion of the well. Detailed information concerning the well will be held confidential. The well reached total depth on November 16, 2007, and was evaluated utilizing mud logs and open hole electrical, acoustic, and nuclear survey logs. Saxon has a 15 % working interest in this well.

Richard G. Green, President and CEO of Saxon, said, "The Eumont State well is a significant exploration well for Saxon and we are very pleased with the results. This is the first well in our exploration joint venture in New Mexico. The well sets the stage for additional exploration and development activities and confirms the expectations of our geophysicists and technical data."

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.

This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding plans for completion, production potential, other targeted areas and expansion and development plans and objectives of Saxon Oil Company Ltd. are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this Release.

Contacts

Saxon Oil Company Patrice Nazareno
1-866-515-7708 quaycomm@shaw.ca