Saturn Oil + Gas Provides Update on Viking Horizontal Drill Program at Flaxcombe

Saturn Oil + Gas Inc. is pleased to provide an operational update regarding its Viking horizontal drill program at Flaxcombe and the acquisition of an existing vertical wellbore for recompletion in the Success formation.

Saturn is pleased to announce that it has received drilling licenses for two half-mile horizontal Viking wells on its recently acquired land near Flaxcombe. The first two initial drilling locations were chosen after extensive evaluations of structure and offsetting Viking horizontals with IP90 results exceeding 100 barrels of oil per day. The two wells will be drilled sequentially with spud for the first well anticipated to occur on or before November 10th, 2017.

Additionally, Saturn has acquired an existing vertical wellbore on the same section as the programmed Viking horizontals. The existing vertical wellbore will be recompleted in the Success formation as Saturn’s technical team has identified a potential for stacked pay in both the Viking and the Success formations on the section. This recompletion will allow Saturn to evaluate the potential of multiple zones for development on the section. The Success recompletion is particularly important considering the Company’s further development of the Success formation in the immediate area.