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Bullboard - Stock Discussion Forum Saturn Oil & Gas Inc. OILSF


Primary Symbol: T.SOIL Alternate Symbol(s):  T.SOIL.R | T.SOIL.W.A

Energy Oil & Gas E&P
Saturn Oil & Gas Inc. is a Canada-based energy company. The Company’s focus is to advance the exploration and development of its oil and gas properties in Alberta and Saskatchewan. It has assembled a portfolio of assets in Southeastern Saskatchewan, West Central Saskatchewan and Central/Northern Alberta that provide an inventory of economic drilling opportunities across multiple zones. The... see more

TSX:SOIL - Post Discussion

Saturn Oil & Gas Inc. > Sale of Non-Core Deer Mountain Property T.SOIL
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Post by Betteryear2 on Apr 01, 2024 6:49pm

Sale of Non-Core Deer Mountain Property T.SOIL

Calgary, Alberta--(Newsfile Corp. - April 1, 2024) - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) ("Saturn" or the "Company") is pleased to announce the Company has entered into a definitive agreement with a private operator to sell its non-core Deer Mountain property in North Alberta (the "Deer Mountain Block") for cash of $27 million, less customary closing adjustments. The Deer Mountain Block had production of approximately 800 boe/d(1) (93% oil and NGLs) in March 2024, based on field estimates. The sale of the Deer Mountain Block is expected to close on or about May 1, 2024, subject to customary closing considerations.

Saturn Oil & Gas Inc. Announces Sale of Non-Core Deer Mountain Property (newsfilecorp.com)
Comment by a2bman on Apr 02, 2024 1:10pm
Why?
Comment by Rainyday on Apr 02, 2024 4:07pm
Why not ?
Comment by Kpitreal on Apr 08, 2024 10:43am
It is not really a core asset. The share price is held down by their debt levels. As the debt comes down the stock will balloon upwards. FCF for 2024 at these prices looks very good. This sale speeds up the timeline to improve debt ratio.
Saturn Oil & Gas Inc.
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