Saxon Oil Announces Participation in New Mexico Exploration Well



    DALLAS, June 20 /CNW/ - Saxon Oil Company Ltd ("Saxon") (TSX VENTURE:SXN)
(FRANKFURT:SXN) (BERLIN:SXN) (PINK SHEETS:SXNOF) has agreed to participate in
the drilling of a 5,000-ft wildcat in Lea County, New Mexico. This well is
located near the western edge of Eumont Field and will target Yates,
Grayburg-San Andres, Seven Rivers, and Queen Sand objectives. The proposed
location will test a stratigraphic anomaly identified by high quality 3-D
seismic data. Saxon will have a 20% working interest in this prospect.

    Eumont Field was originally two fields named Eunice and Monument
discovered in 1929. In 1953, the fields were consolidated and re-named Eumont
Field by the New Mexico Oil and Gas Commission. Both stratigraphic and
structural gas and oil reservoirs are present in this multi-pay field which is
developed on a large north-south trending structural anticline plunging to the
west. The field is a prolific producer of oil and gas and has been developed
with over 1,300 wells. Wells adjacent and east of this prospect have
cumulative production exceeding 250,000 barrels of oil equivalent. The trap
for the field is stratigraphic in nature and developed at relatively shallow
depths.

    Richard G. Green, president and CEO of Saxon said, "The excellent quality
of the reprocessed 3-D seismic image, coupled with outstanding reserve
recovery in the area from multiple objective formations, makes this prospect
highly attractive." Additional offset locations may exist and Saxon
anticipates additional opportunities will develop. Saxon expects drilling of
this well in the 4th quarter of 2007.

    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.




For further information:

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

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Saxon Oil Company Ltd.

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