Saxon Moves Ahead with Hudson Hills

Saxon Oil Co. Ltd.

Saxon Oil Co. Ltd. said that the development of its Hudson Hills prospect in Central Texas has begun. Holding a 75% working interest in the prospect, Saxon has drilled three wells and was set to spud a fourth well Wednesday. The first three wells were drilled to a depth of approximately 3,900 feet. Electric logs confirmed the anticipated Navarro Sand formation, and Saxon deemed two of three wells commercially viable.

Upon completion of the first two wells, and after sufficient monitoring of production, Saxon will develop the remaining acreage. Saxon currently owns leases on 1,968 acres in this prospect and continues to review additional prospective acreage in the area.

“We are delighted with the results on the Hudson Hills prospect,” reported Sioux Sinnott, Saxon’s operations manager. “The electric logs confirmed our geological assumptions, and although one of the wells was dry, it has helped delineate this large acreage play.”

The field rules for the Hudson Hills area allow the field to be developed on 40-acre spacing. Utilizing enhanced drilling and recovery techniques, the potential exists to develop dozens of wells. Saxon has targeted five additional prospect areas nearby that are comparable to the Hudson Hills prospect, and the company most likely will acquire additional leasehold interests in these areas.

“We look forward to completing these first wells and putting them into production over the next few weeks,” said Sinnott. “We are excited about further expansion and development of our leased acreage in the area.”