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.