Saxon Oil Announces New Directors; Stock Options Granted



    DALLAS, Feb. 20 /CNW/ - Saxon Oil Company Ltd ("Saxon") (TSX VENTURE:
SXN) (FRANKFURT:SXN) (BERLIN:SXN) is pleased to announce the addition of John
H. McCandless, Thomas D. Vessels, effective as of December 12, 2008 and Robert
D. Gershen to its board of directors effective as of February 17, 2009. At the
same time, Saxon has accepted the resignation of Peter Aberg.
    Saxon also announces that it has granted an aggregate of 300,000 stock
options pursuant to its previously approved stock option plan to the new
directors of the Company. The options were granted at an exercise price of
$0.15 per share for a period of 5 years.

    This news release may contain forward-looking statements based on
assumptions and judgments of management of Saxon regarding future events or
results. Such statements are subject to a variety of risks and uncertainties
which could cause actual events or results to differ materially from those
reflected in the forward-looking statements. Saxon disclaims any intention or
obligation to revise or update such statements except as may be required by
law.

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

    %SEDAR: 00005554E




For further information:

For further information: Saxon Oil Company, Patrice Nazareno, Toll Free:
1-866-515-7708

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Saxon Oil Company Ltd.

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