Saxon Oil Sheds Interest In AleAnna Resources; Shifts Focus To Domestics

Acquired 20% membership interest in AleAnna Resources LLC, which holds certain exploration licenses and permits in northern Italy.

Saxon Oil Co. Ltd., Houston, (Toronto: SXN) (Pink Sheets: SXNOF) has completed the sale of its 20% membership interest in AleAnna Resources LLC, which holds certain exploration licenses and permits in northern Italy, to AleAnna Energy LLC. The transaction was completed in the ordinary course of business on an arm's length basis.

In consideration for the disposition of its interest in AleAnna Resources, the purchaser paid to the company an aggregate of cash and 750,000 common shares of BRS Resources Ltd. (TSX: BRS).

This transaction completes the company's recent efforts to exit from all non-domestic oil and gas opportunities. The company will continue to focus on its existing producing properties, and low risk exploitation projects in Texas, Oklahoma and New Mexico. Management believes that this strategy will allow the company to effectively utilize its management team's core business and technical competencies as well as provide investors with clear and stable metrics for monitoring future success.