Saskatoon, Saskatchewan (GLOBE NEWSWIRE) - Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX.V: SOIL) (FSE: SMK) is pleased to announce that with the success of the recent drill program the Company has achieved a production rate of 1,000 bbls/d. Additionally, the Company has commenced drilling its Q4 of 2018 Viking horizontal program.
Saturn currently has 16 gross (14 net) producing Viking horizontal wells and anticipates drilling 18 additional 100% working interest Viking horizontal wells through Q4 of 2018 and Q1 of 2019.
Stuart Houle, Saturn’s VP of Engineering & Operations, stated, “We have been impressed with the initial and prolonged production results from our 2018 Viking horizontal programs. Saturn has had continued operational success that supports full field development over many of its land assets. We look forward to executing this upcoming program that should allow us to achieve our 2018 exit production rate goal.”
To know more about Saturn Oil & Gas Inc. and their operations, please visit our website www.saturnoil.com.
About Saturn Oil & Gas Inc.
Saturn Oil & Gas Inc. (TSX.V: SOIL) (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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SOURCE: Saturn Oil + Gas Inc