Last €0.14 EUR
Change Today -0.003 / -2.17%
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saturn minerals inc (SMK) Snapshot

Open
€0.13
Previous Close
€0.14
Day High
€0.14
Day Low
€0.13
52 Week High
06/2/14 - €0.15
52 Week Low
12/9/13 - €0.04
Market Cap
14.9M
Average Volume 10 Days
50.2K
EPS TTM
--
Shares Outstanding
110.2M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for SATURN MINERALS INC (SMK)

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saturn minerals inc (SMK) 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.

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saturn minerals inc (SMK) Key Developments

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.

Saturn Minerals Inc. Auditor Raises 'Going Concern' Doubt

Saturn Minerals Inc. filed its Annual on Apr 30, 2014 for the period ending Dec 31, 2013. In this report its auditor, Davidson & Company, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Saturn Minerals Inc. Announces Farm-In Agreement with Vector Exploration Corp

Saturn Minerals Inc. announced that it has amended an existing letter agreement with Vector Exploration Corp. to a Farm-In Agreement for oil & gas permits EP-71 and EP-72 located in eastern Saskatchewan. Upon closing of a definitive Farm-In Agreement, Vector will have the opportunity to acquire up to an 80% interest in permits EP-71 and EP-72 by funding the acquisition of a minimum of 80 km of seismic data and the option to drill up to two wells. Following drilling of the two wells, Saturn will retain a 20% working interest in EP-71 and EP-72. The estimated exploration value of work in the Farm-In Agreement is $2.5 million. Both wells will be subject to a 1/350 (2.0-7.5%) royalty payable to Saturn until payout.

 

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