Saturn Minerals Inc. Announces Update of Bannock Creek Oil Exploration Well
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 14, 2015) - Saturn Minerals Inc. (TSX VENTURE:SMI)(FRANKFURT:SMK) ("Saturn" or the "Company") announces that further to the Company's news release dated December 8, 2015, the Company's technical team and advisors tested the ground conditions again on December 11 and 13 for drilling the Bannock Creek 9A-5 exploration oil well. All parties determined that ground conditions were not yet ideal for moving heavy equipment to the well site. It is anticipated that the 9A-5 location will require at least an additional week of sub -10 degree Celsius weather to adequately freeze the ground for safe movement of heavy equipment to the well site.
"We have contracted with all the required service and supply providers to move to the well site as soon as ground conditions are safe and plan to spud the 9A-5 well as soon as practical. The weather this year has been unseasonably warm and only recently the temperatures have dropped to a level where we have made the prudent decision to move to the well site at a time when it is safe and prudent to do so. The 9A-5 location is on private farm land and should 9A-5 be a successful discovery we want to establish and maintain solid relationships with local land owners and the Municipality as prudent operators for access and further development of the area on a year round basis," stated Stan Szary, Saturn's CEO.
About Saturn Minerals Inc.
Saturn Minerals Inc. (TSX VENTURE:SMI)(FRANKFURT:SMK) 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
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(December 14, 2015 - 12:12 PM EST)
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