SASKATOON, Saskatchewan , Jan. 11, 2018 (GLOBE NEWSWIRE) -- Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (SMI.V) (SMK.F) 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. (SMI.V) (SMK.F) 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.