Saturn Oil + Gas Inc. produces more than 350 barrels of oil per day.
Guest Author: Jörg Schulte | 20.12.2017, 14:12 | 1165 | 2 If we cautiously estimate that around 50% of Saturn's per barrel will be left as a profit margin after deduction of all costs, a current gain of around $ 13,000 would accrue daily! [Saturn Oil + Gas Logo_420] The management of Saturn Oil + Gas Inc. (ISIN: CA80412L1076 / TSX.V: SMI) announced the latest production data in a company release published yesterday. According to this, the company currently produces more than 350 barrels of oil per day with all five production sites and third-party claims under joint venture agreements. The WTI oil price is currently trading at around USD 58, which corresponds to an exchange rate for Canada of around CAD $ 75. If we cautiously estimate that around 50% of Saturn's per barrel is left as a profit margin after deducting all costs, the current figure would be around $ 13,000 a day, with a daily turnover of around $ 26,000. This equates to a profit of well over $ 300,000 per month or more than $ 3,600,000 per year. Due to past tax losses of over $ 27 million, taxes will not be on the agenda right now. The loss carry forward thus develops into real added value. In view of the land acquisitions already announced, we assume that the Saturn management has concrete plans for the further expansion of production. Saturn's COO Scott Newman has already announced further drilling for the first quarter of 2018 in yesterday's news. From our point of view, John Jeffrey (CEO) and Scott Newman have successfully mastered the company's turnaround and, based on the production data, have managed to create a foundation of substantial cash flow that promises a very promising future. The current company value of around 23 million CAD should soon be history! We assume that the share may multiply in 2018 given the ongoing development of the company.
