Saturn Oil + Gas Inc. Announces Joint Operating and Farm-In Agreement at Flaxcombe
(firmenpresse) - SASKATOON, SASKATCHEWAN -- (Marketwired) -- 07/11/17 -- Saturn Oil + Gas Inc. ("Saturn" or the "Company") (TSX VENTURE: SMI) (FRANKFURT: SMK) is pleased to announce that that it has entered into a joint operating agreement (the "Agreement") with Westcore Energy Ltd. ("Westcore") (TSX.V: WTR) to develop two sections of land near Flaxcombe, Saskatchewan. Under the terms of the Agreement, each of Saturn and Westcore shall have a 50% working interest in both sections.
These Flaxcombe assets are located 30 km west of Kindersley, Saskatchewan. Saturn, in conjunction with Westcore, is currently reviewing available 3D seismic with the intention of completing an initial re-entry program on one of the existing wells on the properties or a new drill program on the properties in 2017.
Additionally, Saturn is pleased to announce that it has entered into a farm-in agreement with Westcore on the recompletion of an existing well on Westcore''s land at Flaxcombe. Under the terms of this agreement, Saturn will fund 100% of the costs to bring the well on production in exchange for a 50% interest in the production from the well. It is anticipated that work will commence on the recompletion in the near future.
We seek Safe Harbor.
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 & Director
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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Saturn Oil + Gas Inc.
+1 (306) 291-2461
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Datum: 11.07.2017 - 13:00 Uhr
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News-ID 1513042
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