Saturn Oil & Gas Inc. Increases Land Holdings in Flaxcombe Area
- Dec 18 2017
SASKATOON, SASKATCHEWAN – December 18, 2017 - Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX.V: SMI) (FSE: SMK) is pleased to announce that the Company has acquired 2.25 sections of land in the recent Saskatchewan Crown land sale. This brings the Companies total land holding to 12.25 gross sections (8.75 net).
The 2.25 sections acquired in the land sale were divided into three separate non-contiguous parcels. The first parcel is one quarter section with rights from top of Second White Specks to top Precambrian. The quarter section has offsetting horizontal Viking production and the Company is currently planning two horizontal Viking wells to be drilled in Q1/2018. The second parcel is one section with rights from top surface to top Precambrian and adjacent to the Companies existing land. Saturn currently owns an existing vertical wellbore on the section that shows a favorable reservoir in the Success formation and plan on recompleting the well in Q1/2018. The third parcel is one section with rights from top surface to top Precambrian and the Company is currently evaluating available 3D seismic on the section for the placement of a horizontal well in the Success formation.
“These land acquisitions are a big step for Saturn. We have been intently focused on growing both our production and land position over the last year. These additional parcels provide us with de-risked Viking horizontal drill locations and highly perspective Success land that we intend to develop,” stated John Jeffrey, CEO of Saturn.
The Company expects to release an operational update and the initial flow rates on its first two Viking horizontal wells in the days to come.
About Saturn Oil & Gas Inc.
Saturn Oil & Gas Inc. (TSX.V: SMI) (FSE: SMK) is a public energy Company focused on the acquisition and development of undervalued, low risk assets. Saturn is driven to build a strong portfolio of cash flowing assets with strategic land positions. De-risked assets and calculated execution will allow Saturn to achieve growth in reserves & production through retained earnings. Saturn's portfolio will become its key to growth and provide long-term stability to shareholders.
To learn more, please contact the Company at 1 (306) 955-9946 or visit: www.saturnoil.com
On Behalf of the Board of Directors
SATURN OIL & GAS INC.
John Jeffrey, MBA – CEO & Chairman
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain statements contained herein constitute forward-looking statements. Such forward-looking statements are subject to both known and unknown risks and uncertainties which may cause the actual results, performances or achievements of the Company to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Except as required by law, the Company does not undertake any obligation to publicly update or revise any forward-looking statements.