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Mining Jobs   Oil/Gas/Petroleum Jobs   



Saturn Minerals Inc. Completes Seismic Program at Little Swan Saskatchewan Oil & Gas Property

March 31, 2015
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 31, 2015) - Saturn Minerals Inc. (TSX VENTURE:SMI)(SMK.F) ("Saturn" or the "Company") is pleased to announce the completion of its third 2D seismic program over Petroleum Exploration Permit 71 (the "Little Swan Property") consisting of 102,758 Hectares in the northern Williston Basin in eastern Saskatchewan. The seismic program was designed to evaluate the deeper Ordovician-Cambrian targets originally identified as having hydrocarbon potential from geologic mapping.

The seismic program consisted of 2 lines of 2D data totaling 27 km and are intended to identify potential structural and stratigraphic traps that could accumulate economic amounts of oil in well-known oil producing formations deeper than that those in which Saturn initially encountered signs of oil.

In 2011 approximately 60 km northeast of the current seismic program, Saturn was conducting an exploratory drill program targeting shallow coal seams up to a maximum depth of 120 meters. During this program, Saturn encountered a section of dolomitic limestone of Devonian age that contained degraded oil, indicating that oil had migrated through the system. This oil show was subsequently identified as sub-surface oil seep and an important indication of an active oil system within this part of the northern Williston Basin (see Saturn News Release, March 1., 2011).

To date, 5 lines of 2D seismic have been completed at Little Swan for a total of 57 km that is intended to identify structural and stratigraphic traps in well-known oil producing formations (Red River e.g.). similar to those already identified by Saturn at the nearby Bannock Creek oil prospect, where Saturn has already confirmed the anticlinal four way closure of a drillable prospect. The closed fault bounded roll over structure is approximately 480 acres minimum in area and has the potential to contain up to 38 million barrels in place from all three targeted reservoirs. The closure of this structure compares very favourably with existing producing light oil pools to the south of Bannock Creek and Little Swan.

The Company is presently processing the Little Swan data at a Processing Center in Calgary, AB under the direction of Chris Barton, P. Geo. and will be followed by an interpretation and report to be announced upon completion.

About Saturn Minerals Inc.

Related Quotes

SATURN MINERALS 
FrankfurtFri, Mar 27, 2015 11:51 AM EDT

Saturn Minerals Inc. (TSX VENTURE:SMI)(SMK.F) is a junior Canadian energy company advancing a portfolio of oil and coal properties in Saskatchewan and Manitoba. The Company owns 376,800 acres of exclusive oil & gas rights in Saskatchewan and is advancing a number of oil exploration projects. Saturn has also made three shallow bituminous coal discoveries since 2009 with coal seams ranging in continuous vertical thickness from 9 to 89 meters. Saturn has a strategic ownership in Inowending Exploration & Development Corp., a First Nations owned exploration and development company co-founded by Saturn with a consortium of Saskatchewan First Nations active in Canada's prairie provinces.

On Behalf of the Board of Directors

SATURN MINERALS INC.

Stan Szary, Chief Executive Officer

NEITHER THE 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 NEWS RELEASE

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