SASKATOON, Saskatchewan, Feb. 09, 2018 (GLOBE NEWSWIRE) — Saturn Oil + Gas Inc. (“Saturn” or the “Company”) (TSX.V:SMI) (FSE:SMK) would like to provide an update on the Company’s recent land acquisition and Q1/2018 drill program.
Saturn has closed its land acquisition with Whitecap Resources Inc. The Company has acquired one section of land with rights from base Colorado to base Mannville. The acquired section is adjacent to Saturn’s existing land holdings and the Company has licensed its first horizontal well targeting the Success formation on the acquired land.
Saturn has also licensed six additional horizontal wells targeting the Viking formation. The Company commenced drilling operations on these wells in late January and has already successfully drilled three horizontal Viking wells. Completions for these three wells is scheduled for the coming week.
“Our first two Viking horizontals continue to produce beyond our expectations and have allowed us to pursue additional land. Our technical team has designed a drill program for Q1 to increase our production and plan for aggressive growth over our 13 gross sections of land. We look forward to completing these recently drilled Viking horizontals and increasing our inventory of de-risked horizontal wells,” stated Scott Newman, Chief Operating Officer at Saturn Oil + Gas Inc.
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.