Saturn Oil & Gas Inc. announced the Company's first Open Hole Mult-Lateral ("OHML") Bakken well drilled in the Viewfield area of Southeast Saskatchewan, 101/01-07-011-06W2 ("Viewfield 01-07"), had initial 30-day average production ("IP30") of approximately 233 bbls/d of light oil, which is 49%1 above the Company's expected IP30 type curves for OHML Bakken wells drilled in the area. The Viewfield 01-07 was drilled with eight open hole, unstimulated lateral legs for a capital cost of approximately $2.3 million, for an implied capital efficiency of $9,870/bbl/d. In late December 2023, Saturn brought onto production its second OHML Bakken well, 102/01-22-011-06W2 (Viewfield 01- 22) which was drilled with seven open hole, unstimulated lateral legs. Viewfield 01-22 is experiencing strong fluid inflow with high oil cuts and will have IP30 results available for late January 2024.

Saturn has identified up to 100 OHML drilling locations in the Viewfield area on lands where Saturn holds mineral rights.