- Saturn Oil & Gas (SOIL) released results of an independent reserves evaluation of its crude oil and natural gas assets
- The report was prepared by Ryder Scott Company-Canada and evaluated the company’s Oxbow Asset in Southeast Saskatchewan and in West Central Saskatchewan
- 62.9 million barrel of oil equivalent (BOE) of total proved and probable reserves, representing a 24 per cent year over year increase
- Kevin Smith, VP of Corporate Development at Saturn Oil & Gas, met with Sabrina Phillips to discuss these results
- Saturn Oil & Gas Inc. (SOIL) opened trading at C$2.49 per share
Saturn Oil & Gas (SOIL) released the results of an independent reserves evaluation of its crude oil and natural gas assets.
The results are compliant with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities and in accordance with the Canadian Oil and Gas Evaluation Handbook.
The report was prepared by Ryder Scott Company-Canada and evaluated the company’s Oxbow Asset in Southeast Saskatchewan and in West Central Saskatchewan.
Highlights:
- 62.9 million barrels of oil equivalent (BOE) of total proved and probable reserves, representing a 24 per cent year-over-year increase
- $791.5 million net present value of future net revenue of the proved developed producing reserves discounted at 10 per cent, in addition to $883.7 million of Ridgeback reserves
- 452 booked gross drilling locations, 64 per cent located in the Oxbow Asset and 36 per cent in the Viking Asset
- High oil weighting with reserves comprise 95 per cent light and medium oil and natural gas liquids
- Net asset value per fully diluted share:
- Proved developed producing of $6.92
- Total proved of $9.27
- Total proved and probable of $12.88
Kevin Smith, VP of Corporate Development at Saturn Oil & Gas, met with Sabrina Phillips to discuss these results.
Saturn Oil & Gas Inc. is a Canadian energy company focused on the development of high-quality, light oil-weighted assets, supported by an acquisition strategy that targets highly accretive, complementary opportunities.
Saturn Oil & Gas Inc. (SOIL) opened trading at C$2.49 per share.
