Earlier this year, Saxon participated in two additional successful wells in the Lasley area, the Rosser 2-11 and the Williams 4-9. The Rosser 2-11 has been successfully completed in the Red Fork D and F sands and began flowing at rates of 1,205 Mcf per day on a 13/64 choke with 2,200 psi of flowing tubing pressure in August. Saxon has approximately a 1.5 percent interest in the Rosser 2-11. The Williams 4-9, where Saxon owns a 2.2% working interest, initially flowed gas at rates of approximately 1,200 Mcf per day.
Richard G. Green, President and CEO of Saxon stated "Saxon's 2009 drilling program has been a great success. The Eumont No.2 well has produced better than expected and the Kardokus 7-10 should be another great producer and marks a milestone as Saxon's 30th producer in the Lasley area. The Lasley project area continues to provide prolific, low risk development wells for Saxon which increases cash flow and offers attractive returns on investments."
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
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this Release.
%SEDAR: 00005554E
For further information: Saxon Oil Company, Patrice Nazareno, Toll Free: 1-866-515-7708, Email: [email protected]
Share this article