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Saturn Oil & Gas Inc. Announces Initiation of Field Development, New Addition to Senior Management, Conversion of Special Warrants and Options Grant
  Saturn commences development drilling and workover program in SE Saskatchewan Kevin ...
About this update from Saturn Oil & Gas Inc.
[{"type":"text","content":"Saturn Oil & Gas Inc. Announces Initiation of Field Development, New Addition to Senior Management, Conversion of Special Warrants and Options Grant Saturn commences development drilling and workover program in SE SaskatchewanKevin Smith joins the leadership team as Vice President Corporate DevelopmentSpecial warrants have converted to free trading common shares and share purchase warrantsThe board of directors has approved the grant of 3.5 million incentive stock optionsCalgary, Alberta--(Newsfile Corp. - July 6, 2021) - Saturn Oil & Gas Inc. (TSXV: SOIL) (FSE: SMK) (\"Saturn\" or the \"Company\") is pleased to announce the start of field development activities in Southeast Saskatchewan, the appointment of Kevin Smith as Vice President Corporate Development, the conversion of the special warrants issued in conjunction with the oversubscribe $32.2 million private placement equity offering, into free trading common shares and share purchase warrants and the granting of incentive stock options to directors, officers, employees and consultants. An updated corporate presentation has been posted to Saturn's website: www.saturnoil.com. Initiation of Field Development ActivitiesSaturn has started field development activities in Southeast Saskatchewan on the recently acquired Oxbow asset. Two new non-operated wells are scheduled to be drilled this summer, with the first well being spudded in June and the second well to spud following rig release of the first drilling location. The wells are targeting Alida formation light oil in the Queensdale area. Saturn has also engaged two service rigs in an ongoing workover campaign to maintain base production.\"Saturn has quickly transitioned from the acquisition of the opportunity rich Oxbow asset in Southeast Saskatchewan to now focusing on developing the vast light oil resources in place,\" said John Jeffrey, CEO of Saturn. \"We are encouraged by the smooth transition in taking over operatorship through the support of our highly qualified operations team at the field level.\"Appointment of Kevin Smith, Vice President Corporate DevelopmentSaturn is pleased to announce that Mr. Kevin Smith has been appointed Vice President Corporate Development on a full-time, permanent basis. Mr. Smith has over 20 years experience in the energy and financial services industries and most recently held th...