DALLAS, December 19 /CNW/ - Saxon Oil Company Ltd. ("Saxon") (PINK
SHEETS:SXNOF) (TSX VENTURE:SXN) (FRANKFURT:OVG) (BERLIN:OVG) announces that it
has granted an aggregate of 1,097,500 incentive stock options to officers and
consultants of the Company under the Company's Stock Option Plan. These
options are exercisable to acquire common shares at an exercise price of $0.17
per share until December 11, 2012.
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 production, development and acquisition of oil
and natural gas reserves. 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.
ON BEHALF OF THE BOARD OF DIRECTORS,
"Richard G Green"
President, CEO - Saxon Oil Company
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
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy and accuracy of this Release.
For further information:
For further information: Saxon Oil Company Patrice Nazareno,