SAXON INVESTMENT GROUP LIMITED (SXO)

name changed to Oil Basins Limited

company advises its prospectus will be available on the Companies website www.oilbasins.com.au later today and will also be available on Patersons Securities Limited website www.psl.com.au

company advises that all resolutions put to the Annual General Meeting were passed unanimously on a show of hands - that includes a proposal to change the name of the company to Oil Basins Limited

company advises of a proposed Entitlements Issue on 3 for 2 basis at $0.20 per share with a free attaching option exercisable at $0.20 up to 30 September 2009 for every 2 shares allotted - the issue is to be underwritten by Patersons Securities Limited in an amount of $2,500,000 which is the minimum subscription

Moby Oil & Gas Limited advises that it has granted an option to Saxon Investment Group Ltd which would enable Saxon to earn a 5% interest in Vic/P41 - the Option terms require Saxon to pay $333,333 to Moby on exercise of the Option which must occur on or before 31 July 2006

provides notice of a general meeting to be held at the office of Menzies & Partners, Level 9, 356 Coillins Street, Melbourne on 30/5/2006 at 11.00AM - the meeting will consider proposals for a change of activities and appointment of a director

directors advise that the company is presently considering 2 possible acquisitions and alternative areas of future business - discussions have progressed in relation to both matters and it is expected that the company will be in a position to make a detailed announcement by not later than the end of April 2006 as to the likely future activities of the company

lodges half yearly report to 31 December 2005

lodges 2005 annual report

so why have neither shareholders nor the market been informed of the outcome of the capital raising which closed on 27 May 2005?

extends prospectus closing date to 27 May 2005

at the AGM today all resolutions were passed unanimously - the company secretary resigned and has been replaced by Graeme Alan Menzies who is also a director

company advises that the Closing Date of the Company's prospectus dated 2 March 2005 as amended by a supplementary prospectus dated 4 April 2005 has now been extended to 5.00PM AEST on 25 May 2005

issues supplementary prospectus and extends the closing date of the Issue to 5 PM (AEST) on Thursday 21 April 2005

extends closing date for the renounceable entitlements issue to 21 April 2005

lodges annual report and gives notice of AGM to be held on 18 May

2004 AGM to be held 18 May 2005

issues Prospectus for an entitlements issue of Ordinary Shares at an issue price of $0.05 (5 cents) per Share on the basis of one (1) new Share for every 3 Shares held on the Record Date with an entitlement to members to round up their holdings to 10,000 shares

no advice to the market of what is going on here!!

name changed from Amskan Limited (click on that company below for background)

advises of change of name to Saxon Investment Group Limited, that it has completed the sale of its operating business and residual assets and replacement of directors (all as approved at general meeting on 27 September 2004)