DALLAS, TX, July 26 /CNW/ - Saxon Oil Company Ltd. ("Saxon" or the "Company") is pleased to announce the appointment of the officers and committee members of the Company. The new Saxon officers and committee members are as follows:
CHAIRMAN & CEO HANK SWARTOUT
CORPORATE SECRETARY JOSEPH GIUFFRE
CHIEF OPERATING OFFICER (COO) C. TED WOOTEN
CHIEF FINANCIAL OFFICER (CFO) DONALD BAILEY
COMPENSATION COMMITTEE HANK SWARTOUT (CHAIRMAN)
AUDIT COMMITTEE BILL SAXON (CHAIRMAN)
A.E. (TED) TURTON
Mr. Swartout, the newly elected Chairman and CEO, has over thirty years of experience in the oil and gas business. Previously, he held positions as Manager of Bawden Western Oceanic Offshore, Vice President of Rig Design and Construction for Dreco and Manager of Construction for Nabors Drilling Canada. He held the position of Chairman and Chief Executive Officer of Precision Drilling Ltd., Canada's largest independent drilling rig service company, from 1985 through 2006. Under the direction of Mr. Swartout, Precision Drilling Limited grew from a market capitalization of $1 million into one of the world's largest drilling companies, worth roughly $7 billion by 2005, when Precision shares traded for almost $100 per share on the TSX. In June 2009, Mr. Swartout became Chairman of Calmena Energy Services Inc. (TSX- CEA). Mr. Swartout graduated from the University of Wyoming with a degree in Petroleum Engineering.
Don Bailey, the elected CFO, is new to Saxon Oil and joins the group with over thirty years experience in accounting and management. Don's most recent experience has been in the logistics and moving business where he has had various executive management positions including implementation of financial controls.
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 international 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.
SOURCE Saxon Oil Company Ltd.
For further information: For further information: Saxon Oil Company, Ted Wooten, Toll Free: +1 214.234.0552, Email: email@example.com