Saturn Minerals Inc. announced that its oil exploration well 9A-5-44-8w2 has reached a vertical depth of 583 meters. Formation tops were confirmed and correlated to the sequence stratigraphy with the Company's known geophysical data where formations requiring additional wellbore integrity have been identified. Significantly, the Company has identified the dense anhydritic cap of the Lower Interlake.

The operation is continuing and the Company expects to reach and evaluate the previously identified potential light oil traps in the stacked Red River, Winnipeg and Deadwood Formations by early next week, at which time the Company will provide a further update. Saturn identified the well location from a 2D seismic program, which was designed to identify and confirm closures for potential light oil traps of the Northeastern Williston Basin. The data confirmed the anticlinal four-way closure of the drillable prospect of 480 acres in size at the Company's 120,000 acre Bannock Creek property.