Saxon Announces Rich Green as New President.DALLAS -- Saxon Oil Company Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension Venture: SXN SXN Section ) is pleased to announce Richard G. Green as the Chief Executive Officer and President of Saxon Oil Company Ltd. effective January 1, 2007. Steven D. Saxon will resign as CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President as of the effective date but will continue as an active member of the Board of Directors. Mr. Green (55) has 33 years of geological and technical engineering expertise in the oil and gas industry. He is internationally respected for his work and in 2005 received the Distinguished Service Award from the American Association of Petroleum Geologists The American Association of Petroleum Geologists (or AAPG) is one of the world's largest professional geological societies with over 31,000 members as of 2007. The AAPG works to advance the science of geology (especially in regard to exploration for and production of . He is the current President of the Division of Professional Affairs of the AAPG AAPG American Association of Petroleum Geologists . "We have worked closely with Rich over the last two years in his capacity as Senior Vice President of LaRoche Petroleum Consultants Ltd. evaluating Saxon's oil and gas reserves and potential prospects," commented Bill D. Saxon, Chairman of Saxon Oil Company. "When the opportunity to add him to our management team became available, we jumped at the chance. Rich is highly respected in the industry, and the Company will benefit greatly from his widely-varied experience, his technical expertise and his extensive industry connections." Commenting on his new appointment, Mr. Green said, "Saxon Oil is a well positioned business with a good foundation. I am delighted to accept the challenge to build a team to efficiently develop and produce oil and gas reserves and enhance shareholder value." The Board approved the issuance of 1,000,000 stock options priced at $0.41 CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. per share. About Richard Green Richard Green may refer to:
Richard "Rich" Green began his career with Shell Oil Company in 1973 and from 1980 - 1986 worked for several independent oil companies prior to founding his own exploration and production firm, Dallas Petroleum Partners (1986 - 1994). Mr. Green was appointed Vice President Geology (1993-96) with Netherland Sewell & Associates, Inc and previously worked with DeGolyer & MacNaughton (Gulf Coast Division - 1978-80). Rich was Co-Founder and Senior Vice President of LaRoche Petroleum Consultants, Ltd, from 1996 until his employment by Saxon. Mr. Green has extensive domestic and international experience in geology, petrophysics Petrophysics (petro is Latin for "rock" and physics is the study of nature) is the study of the physical and chemical properties that describe the occurrence and behavior of rocks, soils and fluids [1]. , and engineering, and graduated with a B.S. in Geology from Kansas State University Kansas State University, main campus at Manhattan; coeducational; land-grant and state supported; chartered and opened 1863. There is an additional campus at Salina. Among the university's research facilities are the J. R. . He is a member of numerous professional societies and is an AAPG Certified Geologist and Registered Geoscientist in Kansas and Texas. Throughout his extensive career, Mr. Green has provided Expert Testimony Testimony about a scientific, technical, or professional issue given by a person qualified to testify because of familiarity with the subject or special training in the field. to both the Oklahoma Corporate Commission and the Texas Railroad Commission. He is an honorary life member of the Dallas Geological Society. About Saxon Oil Company Ltd: Saxon Oil Company is a Tier One Texas-based Canadian company, trading on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. 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. On Behalf of the Board, "Bill D. Saxon" Bill D. Saxon, Chairman NOTE: This news release includes certain "forward-looking statements." All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential production, drilling results and future plans and objectives of the Company, 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. Important factors that could cause actual results to differ materially from the Company's expectations are exploration, completion and production risks detailed herein and from time to time in the filings made by the Company with securities regulators. The TSX Venture Exchange does not accept responsibility for the adequacy and accuracy of this release. |
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