Saxon Announces Acquisition in Kansas

    DALLAS, June 4 /CNW/ - Saxon Oil Company Ltd. ("Saxon") (TSX VENTURE:
SXN) announced today it has entered into an agreement with Milestone Energy
LLC ("Milestone") to acquire a natural gas gathering system in Central Kansas.
Saxon has commenced due diligence and expects to close the transaction before
the end of the 2nd Quarter 2007. The terms of the transaction have not been

    This acquisition opportunity was identified through the strategic
alliance formed between Saxon and Milestone. As part of this alliance,
Milestone provides oil and gas consulting services, geologic evaluations of
potential areas of interest, research on available acreage and leaseholds,
technology assessments and feasibility studies of surface equipment as well as
field and pipeline infrastructures. Saxon provides working capital, financial
and operational oversight, reservoir engineering and acts as operator in the
development programs.

    Saxon management believes Kansas is an attractive future growth area for
the Company. Kansas ranks fifth in the United States in cumulative production
with over 30 trillion cubic feet of gas (Tcf) and over 6.6 billion barrels of
oil produced to date. Saxon targets central Kansas, where significant oil and
gas reserves remain in multiple producing formations at depths shallower than
4,000 ft. In addition, central Kansas is estimated to contain some the largest
reserves of helium in the world, a quickly depleting commodity that currently
sells for more than $70 per thousand cubic feet.

    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 participate whenever possible with quality partners with
specialized local expertise in project areas rather than prospects. This
strategy should 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 beaccurate and actual results and
future events could differ materially from those anticipated in such

For further information:

For further information: Saxon Oil Company Ltd. Patrice Nazareno,

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