Saxon announces new board member
DALLAS, TX, May 3, 2010 (Canada NewsWire via COMTEX) -- Saxon Oil Company Ltd ("Saxon") (SXN) (FRANKFURT:SXN) (BERLIN:SXN) an independent international oil and gas company, is pleased to announce the immediate appointment of Hank Swartout to the Board of Directors.
Mr. Swartout has over thirty years of experience in the oil and gas businessp. Previously, he held positions as Manager of Construction for Nabors Drilling Canada, Vice President of Rig Design and Construction for Dreco, and Manager of Bawden Western Oceanic Offshore. 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 Ltd. grew from a market capitalization of $1 million into one of the world's largest oilfield service companies, worth roughly $7 billion by 2005, when Precision shares traded for almost $100 per share on the TSX. From 2005 to 2010, Mr. Swartout was involved in many Oil and Gas start ups and also was the Chairman of Highpine Oil and Gas which produced 20,000 barrels a day of H2S crude. In June 2009, Mr. Swartout became Chairman of BlackWatch Energy Services Corpp (TSX- BWT). Mr. Swartout graduated from the University of Wyoming with an Honors degree in petroleum engineering.
Steven D. Saxon, Chairman of Saxon commented: "I am very pleased to welcome Hank Swartout to the Board of Saxon. Mr. Swartout brings significant experience in the oil and gas industry as well as important relationships built over his long and distinguished career."
Saxon also announced four of its directors will not seek reelection at the company'sp annual general meeting ("AGM") in June. William Payne, John Tatum, John McCandless and Tom Vessels will serve on the Board until June and new Board nominations will be submitted for shareholder approval at the June AGM. The Company wishes to thank these Directors for their service over the past years.