October 9, 2007

Saxon Oil Joins Kansas Exploratory Play

DALLAS - (BUSINESS WIRE) - Saxon Oil Company Ltd. ("Saxon") (Pink Sheets:SXNOF) (TSX VENTURE:SXN) (FRANKFURT:OVG) (BERLIN:OVG) has agreed to participate in an exploratory oil well in Ellis County, Kansas and the re-entry and workover of a well in Gove County, Kansas. The operator of both wells, Castle Resources, Inc of Schoenchen, Kansas, anticipates operations to begin in October 2007.

The Bittel #1 well, with a target depth of 3,900 ft, is an exploratory test of Arbuckle and Lansing-Kansas City (LKC) reservoirs trapped in structural closures which were identified in a recently completed 3-D seismic survey. Historically, the carbonate Arbuckle and LKC reservoirs are prolific oil producers in the centralKansas typically from subtle structural closures. Saxon will have a 10.9375% working interest in the Bittel well which has an estimated gross dry hole cost of $154,000. Gross completed well cost is estimated to be $310,000.

The Cheney #4 well is a re-entry and workover of a temporarily abandoned well originally drilled in 1982, completed in the deeper Mississippian limestone and produced until a recent casing leak forced temporary abandonment. Castle Resources purchased the Cheney well from another Kansas producer because the electric logs originally run in the well show an untested and unproduced oil productive interval in "J" zone of the LKC. The "J" zone is an excellent producing interval in the LKC in Gove County and the log response appears analogous to producing wells in the area. The re-entry is planned to remedy the casing leak and then perforate and test the "J" zone. Saxon will have a 25% working interest in the Cheney #4 well which has an estimated completed cost of $138,600.

"Kansas is proving to be an excellent area of growth area for us," said Steve Moore, CFO of Saxon. "We feel the area offers relatively low drilling costs, solid reserves, and excellent potential return on investments in a known producing area with established infrastructure. We’ve added a field office in Hays, Kansas, to handle these new wells, as well as the wells and leases we already operate in central Kansas. We will participate as non-operators in these two wells but plan to operate in some future drilling activity on the leases we previously acquired."

With recent acquisitions in Kansas and New Mexico, Saxon now has working interests in 106 wells. Saxon has doubled its daily oil and gas production in the last three months. Saxon has plans to drill more several additional wells in the 4th quarter 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.

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