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saturn minerals inc (SAEUF) Details

Saturn Minerals Inc., an energy and resources exploration company, engages in the acquisition, exploration, and development of energy and resource properties in Canada. The company has interests in coal, and oil and gas projects. As of June 30, 2012, it owned approximately 1,240 square kilometers of coal rights and approximately 1,524 square kilometers of oil and gas rights in eastern Saskatchewan and western Manitoba. The company is headquartered in Vancouver, Canada.

saturn minerals inc (SAEUF) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$72.0K
Chief Financial Officer
Total Annual Compensation: C$20.6K
Compensation as of Fiscal Year 2013.

saturn minerals inc (SAEUF) Key Developments

Saturn Minerals Inc. Announces Completion of Second Phase of 2D Seismic Program

Saturn Minerals Inc. announced the completion of the second phase of a 2D seismic program over Petroleum Exploration Permit 72 (the "Bannock Creek Property") consisting of 122,880 acres in the northern Williston Basin in eastern Saskatchewan. This program follows the recently completed programs at Little Swan and phase one of Bannock Creek. The current phase of acquisition using dynamite consists of two lines measuring 13.1 km and 9.8 km long in the dip direction was completed by GeoStrata Resources Inc., in conjunction with processing by Earth Signal and interpretation by Shadow Energy all of Calgary, Alberta. The Seismic Survey, which compliments phase 1, was designed to confirm the presence of large-scale structural anomalies on the north central portion of the Bannock Creek Property. The company is encouraged to announce that final interpretation of Lines #1 and #3 with the previous phase of data indicates that the seismic lines cross over several deep seated structures in the dip direction. Each of the fault bounded structures provides stacked structural relief at the Ordovician Winnipeg and Deadwood Sandstones and the Red River (Yeoman) Formation. A larger closed structure was encountered at the Red River interval and evidence of stratigraphic traps also exists at the Precambrian Deadwood sandstone which pinches out against the basement structures. The encouragement expressed by Saturn is that the seismic interpretation compares directly to the analogous fault bounded "Tyvan" Oil pools, which produce, from the Red River (Yeoman) and Winnipeg Sands to the south in the same stratigraphic basin. The Tyvan pools contain upwards of 15 Million barrels of recoverable light crude from each structure with individual wells producing at 150 Barrels of oil per day and some accumulating over 250,000 barrels each (Geoscout 2014). The normal faulting orientation visible on the seismic line will likely result in closures at these intervals based upon geological basement structural patterns in the region and as a result Saturn has identified a preliminary drilling location (link to map of structure); however currently the position being taken by Saturn is to perhaps acquire an additional line to indeed confirm closure prior to drilling.

Saturn Minerals Inc., Annual General Meeting, Sep 19, 2014

Saturn Minerals Inc., Annual General Meeting, Sep 19, 2014., at 10:00 Pacific Standard Time. Location: Suite 312 - 744 West Hastings Street. Agenda: To receive the audited financial statements of the Company for the financial years ended December 31, 2013 and 2012 together with the reports of the auditors on those financial statements; to set the number of directors to be elected at the meeting at three (3) for the ensuing year and electing directors; to appoint Davidson & Company LLP, Chartered Accountants as auditors of the Company for the ensuing year, and to authorize the directors to fix their remuneration; to consider and, if deemed appropriate, to pass a resolution approving the Company's stock option plan; to consider and, if deemed appropriate, to pass an ordinary resolution approving the Company's Advance Notice Policy; and to transact such other business as may properly come before the Meeting or any adjournment thereof.

Saturn Minerals Inc. and Vector Exploration Corp. Announce 50/50 Joint Venture on Saskatchewan Oil & Gas Projects

Saturn Minerals Inc. announced that it and Vector Exploration Corp. have mutually agreed to amend an existing Farm-In Agreement for oil & gas permits EP-71 and EP-72 (the "Little Swan" and "Bannock Creek" properties) located in the Williston Basin in eastern Saskatchewan. Under terms of a new Joint-Venture Agreement, both Saturn and Vector will each retain a 50% working interest in both projects. Additionally, both Saturn and Vector have agreed on an Area of Mutual Interest surrounding the Little Swan and Bannock Creek projects within which both companies will retain a right of first refusal to participate at their Working Interest on any operations, including Land Purchase, geological and geophysical programs, drilling and completions. The Little Swan and Bannock Creek projects are two of the oil & gas permits in the province of Saskatchewan, consisting of over 376,800 acres (over 16 Townships). Both permits are located in the Williston Sedimentary Basin and grant Saturn and Vector the exclusive right to any oil & gas discovered in any formation from surface to basement. Reservoirs on permit lands include the entire geological section form Devonian to Cambrian which create "multi-stacked targets" which include the Duperow, Souris River, Winnipegosis, Interlake, Red River (Yeoman Formation), Winnipeg Group (Black Island Formation) and Deadwood. All of these reservoirs are known to host and produce economical deposits of oil & gas within this region of the sedimentary basin. Saturn and Vector are currently planning the next stage of exploration, which will include the drilling of vertical exploration wells into multi-stack targets. The Joint-Venture Agreement is subject to the approval of the TSX Venture Exchange the board of directors of Saturn and Vector.


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