SASKATOON, Saskatchewan, April 24, 2018 (GLOBE NEWSWIRE) — Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX-V:SMI) (FSE:SMK) is pleased to announce that the Company has successfully acquired two additional sections of land in the Flaxcombe area. This brings the Company’s total land holdings to 17.0 gross sections (12.5 net) of land in west-central Saskatchewan.
The two sections acquired were Crown land purchased from a major producer in the Flaxcombe area. The two sections are contiguous and adjacent to Saturn’s existing sections with rights from surface to base Mannville Group. Saturn’s technical team has identified a number of drill locations through 3D seismic and petrophysical logs that target the Success formation. The Company has licensed one horizontal and one vertical Success well on the new sections and intends to drill them in Q3/2018.
“We have put a lot of focus on our development plan for the Success formation. We see the increase in drilling activity of the Success formation and have ensured the land position we hold will build a sustainable inventory of horizontal drill locations. Saturn is excited to drill its first Success horizontal in the Flaxcombe area,” stated Justin Kaufmann, VP Exploration with the Company.
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.