Transmitted by CNW Group on : October 29, 2007 08:59

Saxon Oil To Complete South Texas Exploration Well

	    DALLAS, October 29 /CNW/ - Saxon Oil Company Ltd. ("Saxon") (PINK SHEETS: SXNOF) (TSX VENTURE: SXN) (FRANKFURT: OVG) (BERLIN: OVG) has agreed to participate in the completion of an exploration well operated by Tri-C Resources of Corpus Christi, Texas. As previously announced, drilling of the Jackson-Williams #3 well commenced on September 1, 2007. The operator reached a total depth of 13,856 feet on October 23, 2007 and subsequently evaluated the well using electric logs, which indicated multiple productive gas sands between 11,000 and 13,600 feet in the over-pressured Wilcox section. During the drilling process the well encountered reservoir pressures in excess of 10,000 psi.  	    The well is part of an exploratory test on a new fault block in the Morales East Field of Jackson County, Texas. When completed the Jackson-Williams #3 well will be the fourth well in the area for Saxon. Morales East is a prolific gas producing field with significant historical production from multiple sandstones trapped in several fault bounded reservoirs. Saxon has a 0.85% interest in this well. Completion activity should commence shortly, with first production in the fourth quarter of 2007.  	    Richard G. Green, President and CEO of Saxon, said, "The well appears to have multiple productive gas reservoirs and should be a very good producer. We are pleased the geologic concept was correct and look forward to additional wells with Tri-C Resources in the future."  	    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.