Saxon Oil Company Ltd. Announces Bakken Well Results

Houston, Texas--(November 3, 2011) - Saxon Oil Company Ltd. ("Saxon" or the "Company") (TSXV: SXN) (PINK SHEETS: SXNOF) (FRANKFURT: OVG) (BERLIN: OVG) announces that the Brakken 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."

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 international 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. .

This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding plans for completion, production potential, other targeted areas and expansion and development plans and objectives of Saxon Oil Company Ltd. are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this Release.

Contact:
Saxon Oil Company
Ted Wooten
Phone: 214 234 0552
Email: info@saxonoil.com