Saxon Oil (CVE:SXN) today announced that a 3d seismic program being carried out by AleAnna Resources has been completed. Saxon owns a 20% interest in AleAnna. AleAnna conducted the program on 128 square kilometers in the Corte Dei Signori permit area in Italy.
Oil prices are being pushed upwards by the impending arrival of tropical storm Gustav in the Gulf of Mexico. Gustav is projected to become “the largest hurricane in the Gulf of Mexico since Katrina”. Workers are already being evacuated from oil and gas rigs in the area, which has pushed up NYMEX oil futures past $117.
Calgary-based Saxon Energy Services reports net profits of US$6.8 million or eight cents a diluted share for the second quarter. For full news, click here
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