• 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.


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