SASKATOON, Saskatchewan, July 16, 2018 (GLOBE NEWSWIRE) -- Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX.V:SMI) (FSE:SMK) is pleased to announce that it has commenced drilling operations for its Q3/2018 horizontal drill program.
Saturn’s Q3/2018 five (5) well program will consist of one (1) Success horizontal well in the Milton field, one (1) Viking extended reach horizontal well in the Kerrobert field, one (1) Viking extended reach horizontal well in the Prairiedale field, one (1) Viking half-mile horizontal well in the Flaxcombe field and one (1) Viking extended reach horizontal well at its 50% working interest Lucky Hills asset.
The Company anticipates drilling operations to be completed before the end of July and will be immediately completing the wells to be brought on-line in August 2018.
“Our team has been preparing for this program for several months. We have designed these wells to prove production at each of our major fields and lead way to a large development program for Q4/2018 and Q1/2019. These wells will be the foundation for Saturn to exit 2018 with a production rate in excess of 1,000 barrels of oil per day,” 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.
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