09:51 AM EDT, 09/29/2017 (MT Newswires) -- Saturn Oil + Gas Inc. (SMI.V) has received its Corporate Reserves Estimation and Economic Evaluation form Deloitte LLP for its Lucky Hills Viking assets and Flaxcombe Success heavy oil assets. Saturn is pleased to announce 307 thousand net barrels in proved plus probable reserves, a before-tax undiscounted net present value of $6.98 million.

The Reserve Report contemplates 8 undeveloped 1P drilling locations, and 9 undeveloped 2P drilling locations.

All reserve volumes above are reported on a company net basis. Drilling and completions cost per location contemplated in the Evaluations range from $750,000 to $1,000,000.

The Evaluations forecast 2P estimate ultimate recoverable volumes of 41,800 barrels oil per undeveloped Viking location at Lucky Hills and 94,300 barrel oil per undeveloped Success horizontal at Flaxcombe.

Saturn Oil & Gas closed Thursday's session at $0.10.

Price: 0.120, Change: +0.02, Percent Change: +20