SAXON OIL COMPANY LTD SXNOF

Bakken well results

[Birpind1]

Saxon Oil Company Ltd. Announces Bakken Well Results

11/03/2011 09:17 AM ET

HOUSTON, Nov 3, 2011 (GlobeNewswire via COMTEX News Network) -- Saxon Oil Company Ltd. ("Saxon" or the "Company") (TSX-V:SXN) (FRANKFURT:OVG.F) (Pink Sheets:SXNOF) (BERLIN:OVG.BE) announces that the Bakken 30-31 #1H well, in Williams County, North Dakota, has produced approximately 85,629 bbls (281 bopd) of oil since the first date of production on December 1, 2010. The well recently produced approximately 6,522 bbls (217 bopd) of oil in the month of September 2011. Saxon owns a 4.2% working interest in the Bakken 30-31 #1H well.

Ted Wooten, President of Saxon, commented, "This well represents the first well drilled in the Bakken shale formation inside the acreage acquired by the Company in 2010 in Williams County North Dakota. As part of that acquisition the Company has a minimum of a two well participation commitment. We have already elected to participate in our second well, the Todd 1-6H, to be drilled by Continental Resources. The Company will have approximately a 4.6% working interest in that well. These wells are important to Saxon as they will increase the Company's cash flow and establish that our leases are prospective in the remainder of our acreage position."

[TheCardinal]

Their meager 4.2% Working Interest won't even produce enough money to pay the light bill.  That's why they've put up  a big "For Sale" sign or did you miss yesterday's "We Give UP!" Press Release ?   Swartout and his Connected Cronies looted the Company for all they could, and now it's time to see who wants to pick over the bones.

[Stormwind]

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