Saturn Minerals Inc. Announces Seismic Program on Saskatchewan Oil & Gas Properties
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 13, 2013) - Saturn Minerals Inc. (TSX VENTURE:SMI)(FRANKFURT:SMK) ("Saturn" or the "Company") is pleased to announce that it has begun the first phase of its 2013 seismic acquisition program (the "Seismic Survey" or "Survey") on EP-71 (the "Little Swan") and EP-72 (the "Bannock Creek"), properties. Geostrata Resources Inc. of Calgary, Alberta, has been retained for the acquisition of up to 92 km of 2D proprietary seismic data on Saturn's oil & gas properties in eastern Saskatchewan, and a crew has been mobilized, with line cutting scheduled to begin this week.
On the Little Swan property, the Seismic Survey will cover the northern portions of permit and has been designed to cover/test the most significant large scale deep-basin anomalies discovered on the Little Swan by way of airborne gravity and magnetic survey in late 2012. These large deep-basin anomalies indicate the presence of horst-and-graben structures within the Precambrian basement rocks, constituting potential 'kitchen' settings for the generation of oil from Devonian and older oil source rocks. The Seismic Survey will identify potential structural and stratigraphic traps over these deep-basin anomalies where the oil may have been trapped. The most promising traps identified in the Survey will form the drill targets of exploration wells to be drilled following the survey.
The Seismic Survey has been designed and is being managed by the executive and exploration team of Vector Exploration Corp. ("Vector") in close conjunction with the Company's VP of Exploration, Dr. Krzysztof Mastalerz. From 2006 through 2012, the exploration team of Vector drilled 70 successful exploration & development wells along the Saskatchewan / Manitoba border based on acquired seismic data and interpretation.
The Seismic Survey is expected to take up to six weeks, with processing being undertaken simultaneously with data acquisition. EP-71, the Little Swan property, is 253,920 acres in size and EP-72, the Bannock Creek property, is 122,880 acres in size, and cumulatively represent some of the largest oil & gas permits in the province of Saskatchewan.
"This seismic survey is the first genuine oil & gas focused exploration work in this part of Saskatchewan," stated Stan Szary, President & CEO. "The data acquired will be proprietary and a major exploration asset when measured against the oil seeps and oil source rock discoveries we've made in the past 18 months. We're extremely happy to be working with the team at Vector who have understood the structure and upside of this play from day one, and have a proven track record of identifying and drilling successful prospects."
About Saturn Minerals Inc.
Saturn Minerals Inc. (TSX VENTURE:SMI)(FRANKFURT:SMK) is a junior Canadian energy company advancing a portfolio of oil and coal properties in Saskatchewan and Manitoba. The Company owns 370,000 acres of exclusive oil & gas rights in Saskatchewan and is advancing a number of oil exploration projects. Saturn has also made three shallow bituminous coal discoveries since 2009 with coal seams ranging in continuous vertical thickness from 9 to 89 meters. Saturn has a strategic ownership in Inowending Exploration & Development Corp., a First Nations owned exploration and development company co-founded by Saturn with a consortium of Saskatchewan First Nations active in Canada's prairie provinces.
On Behalf of the Board of Directors
SATURN MINERALS INC.
Stan Szary, Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
Saturn Minerals Inc.
Chief Executive Officer
+1 (604) 685-6989