Saxon Oil Completes New Oklahoma and Texas Wells

via COMTEX

DALLAS, Feb. 5, 2008 (Canada NewsWire via COMTEX News Network) --
Saxon Oil Company Ltd. ("Saxon") (TSX VENTURE:SXN) (FRANKFURT:OVG) (BERLIN:OVG) announced today the successful completion of the Williams 3-9 well in the Lasley Field. The Williams 3-9, drilled in Caddo County, Okla., to a total depth of 13,900 ft, was completed in the Red Fork formation and began flowing to sales in late January 2008. The well is flowing at a rate of 1.4 million cubic feet per day (MMcfd) and 11 barrels of oil per day with a 2,500-psi tubing pressure. Saxon owns a 4.4 % working interest in the Williams 3-9.

Saxon also announced the completion of the Tri-C Resources Jackson-Williams 3 well in Jackson County, Tex. During production testing in early February 2008 the well flowed at rates ranging from 1.0 to 1.7 MMcf per day with flowing tubing pressures of 5,000 to 7,200 psi through chokes varying from 5/64- to 8/64-inch in size. The well is currently being flared, but should be connected to the pipeline and flowing to sales in the next few weeks. Saxon owns slightly less than 1% working interest in the Jackson-Williams 3.

Richard G Green, president and CEO of Saxon, commented "We are pleased with the results of these wells and will monitor the production to identify possible offset drilling locations. The wells will have a positive impact on future cash flows."

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.

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SOURCE: Saxon Oil Company

Saxon Oil Company, Patrice Nazareno, www.saxonoil.com

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