CALGARY, Alberta, Nov. 25, 2019 (GLOBE NEWSWIRE) -- Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSXV: SOIL) (FSE: SMK) is pleased to announce that it has engaged GBC AG (“GBC”), one of the leading independent research and investment companies in the European financial community, to provide research coverage and its initial research report was published today. The complete GBC report on Saturn may be obtained on major financial terminals and is available publicly via the internet in English at http://www.more-ir.de/d/19477.pdf (full version) or in German at http://www.more-ir.de/d/19479.pdf (short version).
GBC's research analysts conducted extensive due diligence including site visits of Saturn’s office in Calgary and the Company’s core operating areas in western Saskatchewan in October 2019. GBC has undertaken an in depth review of all the relevant reports concerning Saturn’s oil production and corporate strategy, along with many other pertinent aspects of the Company’s business. GBC has now completed and published an extensive report including an independent valuation of Saturn. The report has been released to GBC’s financial network and has been made available on major financial terminals in accordance with the securities regulatory process in Europe.
GBC’s analyst report establishes a target price of CAD $0.31 per common share of Saturn and a “BUY” Rating. The report describes Saturn as having a “Profitable drilling operation with significant upside potential”.
Based in Augsburg, GBC is one of the leading independent research and investment companies in the European financial community. GBC provides independent corporate analysis and research for small to medium enterprises involved in both the capital markets and private sector. GBC Kapital GmbH, a subsidiary, provides corporate finance solutions and capital market advisory services for private placements, financings and brokerage of stock and bonds.
Since 2001, GBC has held extremely popular, invitation only, capital markets conferences as well as providing investment research and capital markets advisory services. The GBC conferences offer an optimal information and network platform for communication between analyst-covered companies and institutional investors, portfolio managers, asset managers and family offices. International participants present their business models, outlook for current and future projects and the progress of their business development at these well attended events. In addition, conference attendees are able to book 1-on-1 meetings with the presenting companies.
GBC receives a EUR 42,237 annual fee for its portfolio of services and the publishing rights of the independent research reports in accordance with the securities regulatory process in Europe, effective October 04, 2019.
About Saturn Oil & Gas Inc.
Saturn Oil & Gas Inc. (TSX.V: SOIL) (FSE: SMK) is a public energy Company focused on the acquisition and development of undervalued, low-risk assets. Saturn is driven to build a strong portfolio of cash flowing assets with strategic land positions. De-risked assets and calculated execution will allow Saturn to achieve growth in reserves & production through retained earnings. Saturn's portfolio will become its key to growth and provide long-term stability to shareholders.
Investor & Media Contact:
Saturn Oil & Gas
John Jeffrey, MBA - Chief Executive Officer & Chairman
Tel: +1 (306) 955-9946
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information and Statements
Certain statements contained in this release include statements which contain words such as "anticipate", "could", "should", "expect", "seek", "may", "intend", "likely", "will", "believe" and similar expressions, relating to matters that are not historical facts, and such statements of our beliefs, intentions and expectations about development, results and events which will or may occur in the future, constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and are based on certain assumptions and analysis made by us derived from our experience and perceptions. Forward-looking information in this release includes, but is not limited to: expected cash flow provided by continuing operations; future capital expenditures, including the amount and nature thereof; oil and natural gas prices and demand; expansion and other development trends of the oil and gas industry; business strategy and outlook; expansion and growth of our business and operations; and maintenance of existing customer, supplier and partner relationships; supply channels; accounting policies; credit risks; and other such matters.
All such forward-looking information is based on certain assumptions and analyses made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. The risks, uncertainties, and assumptions are difficult to predict and may affect operations, and may include, without limitation: foreign exchange fluctuations; equipment and labour shortages and inflationary costs; general economic conditions; industry conditions; changes in applicable environmental, taxation and other laws and regulations as well as how such laws and regulations are interpreted and enforced; the ability of oil and natural gas companies to raise capital; the effect of weather conditions on operations and facilities; the existence of operating risks; volatility of oil and natural gas prices; oil and gas product supply and demand; risks inherent in the ability to generate sufficient cash flow from operations to meet current and future obligations; increased competition; stock market volatility; opportunities available to or pursued by us; and other factors, many of which are beyond our control.
Actual results, performance or achievements could differ materially from those expressed in, or implied by, this forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do, what benefits will be derived there from. Except as required by law, Saturn disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
The forward-looking information contained herein is expressly qualified by this cautionary statement.