Saturn Oil and Gas Inc (SOIL) News

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Saturn Oil & Gas Inc.
Symbol C : SMI
Close 2018-01-10 C$ 0.14
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ORIGINAL: Saturn Oil & Gas Inc. Announces Viking IP30 Results Exceeding 115 bbls/day

2018-01-11 09:15 ET - News Release

SASKATOON, Saskatchewan , Jan. 11, 2018 (GLOBE NEWSWIRE) -- Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX-V:SMI) (FSE:SMK) is pleased to provide initial 30-day production rates (“IP30”) for its two recent Viking horizontal wells (101/9-31 and 102/9-31), as previously disclosed in the December 19, 2017 press release.

Over the first 30 days of production, the 101/9-31 well cumulatively produced 3,529 bbls of 36° API light oil or an average of 118 bbls/d. The well continues to flow and pump with rates over the last five days averaging 104 bbls/d.

Over the first 30 days of production, the 102/9-31 well cumulatively produced 3,564 bbls of 36° API light oil or an average of 119 bbls/d. The well continues to flow and pump with rates over the last five days averaging 109 bbls/d.

The success of these wells has confirmed Saturn’s technical interpretation as well as demonstrated early stage production results that are comparable to, or greater than, major Viking producers in the area. The Company is currently building an inventory of low-risk horizontal drilling targets over its Lucky Hills, Whiteside and Flaxcombe assets.

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.

Saturn Oil + Gas Inc. produces more than 350 barrels of oil per day.

Guest Author: Jörg Schulte | 20.12.2017, 14:12 | 1165 | 2 If we cautiously estimate that around 50% of Saturn's per barrel will be left as a profit margin after deduction of all costs, a current gain of around $ 13,000 would accrue daily! [Saturn Oil + Gas Logo_420] The management of Saturn Oil + Gas Inc. (ISIN: CA80412L1076 / TSX.V: SMI) announced the latest production data in a company release published yesterday. According to this, the company currently produces more than 350 barrels of oil per day with all five production sites and third-party claims under joint venture agreements. The WTI oil price is currently trading at around USD 58, which corresponds to an exchange rate for Canada of around CAD $ 75. If we cautiously estimate that around 50% of Saturn's per barrel is left as a profit margin after deducting all costs, the current figure would be around $ 13,000 a day, with a daily turnover of around $ 26,000. This equates to a profit of well over $ 300,000 per month or more than $ 3,600,000 per year. Due to past tax losses of over $ 27 million, taxes will not be on the agenda right now. The loss carry forward thus develops into real added value. In view of the land acquisitions already announced, we assume that the Saturn management has concrete plans for the further expansion of production. Saturn's COO Scott Newman has already announced further drilling for the first quarter of 2018 in yesterday's news. From our point of view, John Jeffrey (CEO) and Scott Newman have successfully mastered the company's turnaround and, based on the production data, have managed to create a foundation of substantial cash flow that promises a very promising future. The current company value of around 23 million CAD should soon be history! We assume that the share may multiply in 2018 given the ongoing development of the company.

NEW PRODUCER IS BORN

Saturn Oil drills, completes first two Viking wells

2017-12-19 10:39 ET - News Release

Mr. John Jeffrey reports

SATURN OIL & GAS INC. ANNOUNCES INITIAL FLOW RESULTS ON FIRST VIKING WELLS

Saturn Oil & Gas Inc. has successfully drilled, completed and brought on line its first two Viking horizontal wells (101/9-31 and 102/9-31) in the Flaxcombe area.

The 101/9-31 well was drilled to a measured depth of 1,497 meters and completed with 24 stage closable sleeves. All 24 stages were successfully completed and the well was brought on-line on December 8th. Over the first ten days of production, the well cumulatively produced 1,140 bbls of 36degree API light oil. The well continues to flow and pump with flow rates over the last five days in excess of 140 bbls/d of light oil.

The 102/9-31 well was drilled to a measured depth of 1,489 meters and completed with 23 stage closable sleeves. All 23 stages were successfully completed and the well was brought online on December 9th. Over the first nine days of production, the well cumulatively produced 1,135 bbls of 36degree API light oil. The well continues to flow and pump with flow rates over the last five days in excess of 150 bbls/d of light oil.

As of December 19th, the Company is currently producing in excess of 350 bbls/d of oil.

"The drilling and completions of these first Vikings horizontals went well. Although we are in early stages of production on these wells, the initial flows rates have exceeded our expectations. Our technical teams have confirmed on many levels their ability to execute and we are looking forward to additional drilling in Q1/2018," stated Scott Newman, Chief Operating Officer at Saturn.

Further to the Company's news release dated December 4th, Saturn has received TSXV approval of its equity financing to issue 3,412,000 Units at C$0.15 per Unit.

About Saturn Oil & Gas Inc.