Saturn Oil & Gas Inc T.SOIL

Alternate Symbol(s): OILSF | T.SOIL.WT.A

Energy Oil & Gas E&P

Saturn Oil & Gas Inc. is a Canada-based resource company. The Company is engaged in the business of acquisition, exploration and development of petroleum and natural gas resource deposits in Western Canada. It focuses on advancing the exploration and development of its oil and gas properties in Alberta and Saskatchewan. It also focuses on the development of light oil weighted assets in Saskatchewan. Its portfolio includes Southeast Saskatchewan, West Central Saskatchewan, Central Alberta, and North Albert. The core producing properties in Southeast Saskatchewan include its Oxbow assets, which are concentrated within the Mississippian-aged, Midale and Frobisher oil formations and the Bakken assets concentrated in the Bakken formation of Southeast Saskatchewan. The core producing properties in West Central Saskatchewan consist of its Viking assets. The core producing properties in Central Alberta consist of its Cardium assets.

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Saturn Oil & Gas Inc > Market didn't like the PP

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Comment by pppon Feb 07, 2024 5:27pm

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Post# 35868527

RE:RE:RE:RE:Market didn't like the PP

You are correct, pulled up their payment schedule. Lookes like 25 mil a month changing to 15 mil.

Senior Term Loan

On February 28, 2023, the Company entered into a Third Amended and Restated Senior Term Loan Agreement with its senior secured lender and expanded the Senior Term Loan by $375.0 million to an aggregate principal amount of $608.2 million at an original issue discount of 2.5%. The loan will amortize over three years with repayment dates as follows: February 28, 2023 to April 30, 2023 of $nil, May 1, 2023 to April 30, 2024 of $25.4 million per month, May 1, 2024 to April 30, 2025 of $15.2 million per month and May 1, 2025 to February 28, 2026 of $10.2 million per month. On September 29, 2023, the Company entered into an amending agreement with its senior secured lender thereby deferring scheduled repayments in September and December 2023 for the aggregate amount of $50.7 million, which shall become due and payable in full on the stated maturity date. All principal repayments are subject to an exit fee of 2.5% on the aggregate principal amount of any such payment. The Senior Term Loan bears interest 11.5% per annum plus the applicable periodic Canadian dollar bankers’ acceptance rates at a minimum rate of 1%. The Senior Term Loan has a stated maturity date of February 28, 2026.

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