Last C$0.14 CAD
Change Today 0.00 / 0.00%
Volume 90.5K
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saturn minerals inc (SMI) Snapshot

Open
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Previous Close
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Day High
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Day Low
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52 Week High
05/28/14 - C$0.23
52 Week Low
11/28/13 - C$0.07
Market Cap
16.3M
Average Volume 10 Days
97.0K
EPS TTM
C$-0.03
Shares Outstanding
116.2M
EX-Date
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Current Stock Chart for SATURN MINERALS INC (SMI)

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saturn minerals inc (SMI) 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 (SMI) 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 (SMI) Key Developments

Jaguar Resources Inc. and Saturn Minerals Inc. Commence 2D Seismic Program over Petroleum Exploration Permit 72 (Bannock Creek Property) and Exploration Permit 71 (Little Swan Property) in the Northern Williston Basin in Eastern Saskatchewan

Jaguar Resources Inc. and Saturn Minerals Inc. have commenced a 2D seismic program over Petroleum Exploration Permit 72 (the Bannock Creek Property) and Exploration Permit 71 (the Little Swan Property) in the northern Williston Basin in eastern Saskatchewan. Harbinger Exploration Inc. been retained to complete approvals and mapping, and GeoStrata Resources Inc. has been retained by the companies for the acquisition of up to 52 km of 2D proprietary seismic data on the Bannock Creek and Little Swan Properties. This work phase will finalize drilling locations for the completion of up to four exploration wells, with Jaguar as operator, in the first quarter of 2015. Jaguar, as operator, and Coil Works Inc. and HG Tubulars (Canada) Ltd., who both have extensive operations in south east Saskatchewan, will execute the drilling plan. The seismic program will consist of two lines on the Bannock Creek Property, each measuring 10 km long, and one line on the Little Swan Property, measuring 32 km long. Completion of this program will bring Jaguar's total 2D seismic database to five lines on the Bannock Creek Property for a total of 51 km, and four lines on the Little Swan Property for a total of 75 km. Already completed 2D seismic surveys as well as aerial surveys revealed normal faulting orientation which increases the likelihood of closures at the deeper intervals in the region. As a result, Jaguar is moving towards identifying a drill target along geological faults where migrations of oil may be blocked and forming pools. Significantly, the final seismic program will confirm the identified drilling location on a large structure discovered at the Red River interval on the Bannock Creek property from analysis of the previous seismic data. This structure, as interpreted, compares directly to the analogous fault bounded 'Tyvan' oil pools, which produce from the Red River (Yeoman) and Winnipeg sandstone formations, which are approximately 100 miles to the south of the Bannock Creek and Little Swan Properties in the same stratigraphic basin. The Tyvan oil pool has produced over 2.8 million barrels of light sweet 43 API oil since 1998 from 21 wells, with an average pay zone of approximately 65 feet. The individual wells at Tyvan are producing up to 140 barrels of oil per day with estimated accumulations of up to 170,000 barrels per well (Geoscout 2014). The proposed vertical drilling program has an estimated total depth of approximately 1,000 Meters (3,280 feet) to the Precambrian intervals with no horizontal drilling or multi-stage fracing required. The two zones of interest are the Yeoman formation (Red River) and the Black Island formation in the Winnipeg Group which are productive at Tyvan. The drilling time is estimated up to take ten days per well including coring and testing. Conventional completions will be used to complete the wells. The Bannock Creek and Little Swan Properties represent some of the exploration permits within the Province of Saskatchewan and hold the potential for light oil reserves.

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.

 

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