SASKATOON, SASKATCHEWAN -- (Marketwired) -- 11/08/17 -- Saturn Oil + Gas Inc. ("Saturn" or the "Company") (TSX VENTURE: SMI)(FRANKFURT: SMK) is pleased to provide an operational update regarding its Viking horizontal drill program at Flaxcombe and the acquisition of an existing vertical wellbore for recompletion in the Success formation.
Saturn is pleased to announce that it has received drilling licenses for two half-mile horizontal Viking wells on its recently acquired land near Flaxcombe. The first two initial drilling locations were chosen after extensive evaluations of structure and offsetting Viking horizontals with IP90 results exceeding 100 barrels of oil per day. The two wells will be drilled sequentially with spud for the first well anticipated to occur on or before November 10th, 2017.
Additionally, Saturn has acquired an existing vertical wellbore on the same section as the programmed Viking horizontals. The existing vertical wellbore will be recompleted in the Success formation as Saturn's technical team has identified a potential for stacked pay in both the Viking and the Success formations on the section. This recompletion will allow Saturn to evaluate the potential of multiple zones for development on the section. The Success recompletion is particularly important considering the Company's further development of the Success formation in the immediate area.
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.
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.
Saturn Oil + Gas Inc.
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