SASKATOON, SASKATCHEWAN–(Marketwired – July 11, 2017) – Saturn Oil + Gas Inc. (“Saturn” or the “Company”) (TSX VENTURE:SMI) (FRANKFURT:SMK) is pleased to announce that that it has entered into a joint operating agreement (the “Agreement”) with Westcore Energy Ltd. (“Westcore”) (TSX.V: WTR) to develop two sections of land near Flaxcombe, Saskatchewan. Under the terms of the Agreement, each of Saturn and Westcore shall have a 50% working interest in both sections.
These Flaxcombe assets are located 30 km west of Kindersley, Saskatchewan. Saturn, in conjunction with Westcore, is currently reviewing available 3D seismic with the intention of completing an initial re-entry program on one of the existing wells on the properties or a new drill program on the properties in 2017.
Additionally, Saturn is pleased to announce that it has entered into a farm-in agreement with Westcore on the recompletion of an existing well on Westcore’s land at Flaxcombe. Under the terms of this agreement, Saturn will fund 100% of the costs to bring the well on production in exchange for a 50% interest in the production from the well. It is anticipated that work will commence on the recompletion in the near future.
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About Saturn Oil + Gas Inc.
Saturn Oil + Gas Inc. (TSX VENTURE:SMI) (FRANKFURT: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.