Saxon Receives Independent Reserve Report from LaRoche Petroleum on U.S. Domestic Producing Properties



    DALLAS, Feb. 14 /CNW/ - Saxon Oil Company Ltd. ("Saxon") (TSX
VENTURE:SXN) (FRANKFURT:OVG) (BERLIN:OVG) has received the following
preliminary independent third party Domestic Reserve analysis on its U.S.
domestic producing properties as of 12/31/07 from LaRoche Petroleum
Consultants:

    
                                                         Present value
    Proved Developed Producing       No. wells    At 10% discount rate (*)(*)
    Total PDP                              102             $12,169,503

    Proved Developed Non-Producing
    Total PDNP                              10              $1,802,030

    Proved Undeveloped
    Total PUD                               10              $4,548,236

    Total Value by State
    Kansas                                  30             $11,909,657
    Louisiana                                4                $424,999
    North Dakota                             9                $958,711
    New Mexico                              18                $882,186
    Oklahoma                                28              $2,798,175
    Texas                                   25              $1,546,041
    Grand Total Proved                     114             $18,519,769

       (*) Based upon SEC pricing of $92.50 oil and $6.79 /mcf gas resulting
           in average prices of $90.20 bbl oil and $5.72 /mcf gas as
           of 12/31/07

           Report prepared by LaRoche Petroleum Consultants

    (*)(*) The estimated value disclosed does not represent fair market value
    

    Saxon's 51-101 report will be filed with the TSX Exchange in conjunction
with the Company's audited year end financials no later than April 30, 2008.
The LaRoche Petroleum Consultants report analyzes the domestic producing
properties and does not include values for Saxon's 20% interest in AleAnna
Resources (Italy) or for Saxon's wholly owned subsidiary, Central Kansas Gas
Gathering ("CKGG").
    The contents of this news release were prepared by a qualified
Officer/Director, Richard G. Green.

    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.

    %SEDAR: 00005554E




For further information:

For further information: Saxon Oil Company, Patrice Nazareno, Email:
pnazareno@saxonoil.com, (214) 234-0552, www.saxonoil.com

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