Saturn Oil & Gas Inc.

Saturn Oil & Gas Inc. is pleased to report its financial and operating results for the three and twelve months ended December 31, 2021. "The fourth quarter of 2021 was an important milestone for Saturn as we initiated our first drilling program at our newly acquired Oxbow Asset," commented Justin Kaufmann, Senior Vice President Exploration. "Our inaugural Oxbow drilling program was highlighted with the top performing well [...]

Saturn Oil & Gas Inc. is pleased to announce the results of the independent reserves evaluation of the Company's crude oil and natural gas assets, dated March 23, 2022 and effective December 31, 2021, in compliance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities and in accordance with the Canadian Oil and Gas Evaluation Handbook . Reserves Evaluation Highlights The Reserve Report [...]

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Saturn Oil & Gas Inc. is pleased to provide the preliminary results of its light oil development program at its Oxbow Asset in Southeast Saskatchewan, for wells initiated in November 2021 and completed in January 2022. The Company drilled six horizontal wells targeting the Frobisher formation in the Glen Ewen area of Southeast Saskatchewan, where it achieved a 100% success rate and strong aggregate initial flow rates. In [...]

Saturn Oil & Gas Inc. is pleased to announce that the Company's Board of Directors has approved a 2022 capital expenditures budget totalling $50 million. "As a result of the strategic acquisition and recently closed, upsized and oversubscribed equity issues, Saturn has increased its 2022 capital expenditure program," stated John Jeffrey, CEO of Saturn. "Equally important, because of the debt consolidation, the Company is [...]

March 10, 2022 /CNW/ - Saturn Oil & Gas Inc. is pleased to announce that further to the Company's February 17, February 18 and February 28, 2022 press releases, it has closed its previously announced Bought Deal Offering and concurrent Non-Brokered Private Placement offerings . Pursuant to the Bought Deal Offering, the Company issued 6,141,000 units for $3.00 per Unit for gross proceeds of $18,423,000. Under the Company's [...]

Saturn Oil & Gas Inc. is pleased to announce that it has been named as one of the top performers on the TSX Venture Exchange . TSX Venture 50® is an annual ranking of the top performers of the past year on TSX Venture Exchange, the world-leading capital formation platform for early-stage growth companies. Each year, in five key sectors, 10 companies are selected based on their performance across three equally weighted [...]

Saturn Oil & Gas Inc. is pleased to announce it has successfully completed the previously announced strategic acquisition and intends to complete a non-brokered private placement for gross proceeds of $2,190,000 . Strategic Acquisition The Strategic Acquisition closed today, with an effective date of January 1, 2022, for a net cash purchase price of $7.9 million. The assets consist of approximately 240 bbl/d of high [...]

Saturn Oil & Gas Inc. is pleased to announce that it has amended the terms of its previously announced offering of Units . Under the amended terms of the Bought Public Offering , a syndicate of underwriters led by Echelon Capital Markets have agreed to purchase 5,340,000 Units from the treasury of the Company, at a price of $3.00 per Unit and offer them to the public by way of short-form prospectus for total gross [...]

Saturn Oil & Gas Inc. is pleased to announce that the Company has: entered into an arms-length agreement to acquire certain synergistic oil & gas assets in West-central Saskatchewan for total consideration of approximately $8.3 million , given notice to repay its second-lien senior secured term notes in the amount of approximately $32.1 million, entered into an amended and restated term loan agreement with its senior [...]