Saturn Oil & Gas Inc. Top Purchaser of Acreage in Recent Crown Land Sale
- Jun 08 2018
SASKATOON, SASKATCHEWAN - June 8, 2018 - Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX.V: SMI) (FSE: SMK) is pleased to announce that the Company was the top purchaser of acreage in the Kindersley-Kerrobert area at the recent Crown land sale on June 5th, 2018. The Company spent $768,896.83 to acquire 9 lease parcels totaling 6.75 sections, bringing Saturn’s total land position to 24.25 sections (19.25 net).
The Company acquired 2.25 contiguous sections with rights from surface to top of Precambrian in the Kerrobert area. The parcel has recent Viking production on offsetting sections. Saturn has identified multiple horizontal well locations on the parcel and will be licensing an extended reach horizontal Viking well that the Company anticipates it will drill during its 2018 summer drill program.
Saturn also acquired 3.0 contiguous sections with rights from surface to top of Precambrian in the Prairiedale area. The parcel has recent Viking production on offsetting sections. Saturn has identified multiple horizontal well locations on the parcel and will be licensing an extended reach horizontal Viking well in the coming weeks to be drilled during the 2018 summer drill program.
Additionally, the Company acquired 1.5 sections directly adjacent to their 15 sections in the Flaxcombe area. “This land sale was incredibly successful for the Company. Our entire team has been working on these parcels for several months and we have immediate development plans for the 2018 summer drill program”, stated Scott Newman, Chief Operating Officer for Saturn.
For a map of Saturn’s current land and operations please visit the website www.saturnoil.com.
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 DirectorsSATURN 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.
Not for distribution to United States newswire services or for dissemination in the United States.