Saturn Oil & Gas Inc. Announces Extension Of Credit Facility

(MENAFN- Newsfile Corp) Calgary, Alberta--(Newsfile Corp. - July 2, 2025) - Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) (" Saturn " or the " Company "), a light oil-weighted producer focused on unlocking value through the development of our assets in Saskatchewan and Alberta, is pleased to announce the renewal of the Company's existing $150 million syndicated credit facility (the " Credit Facility ") following the semiannual borrowing base review, with an added and uncommitted accordion feature allowing for a $100 million expansion of the Credit Facility up to $250 million in total, subject to certain conditions. The Credit Facility remains fully undrawn.

"This renewed and enhanced Credit Facility supports Saturn's disciplined approach to managing our balance sheet, providing ample liquidity for the ongoing development of our light-oil weighted assets," said John Jeffrey, CEO of Saturn. "With approximately $80 million of cash exiting Q1 2025 combined with this undrawn Credit Facility, we remain well positioned to further advance our blueprint strategy. We would like to thank our lenders for their continued support and confidence in Saturn."

The terms of the amended Credit Facility reflect the Company's healthy financial position, provide Saturn with ample financial flexibility to execute on our strategic blueprint, and support the continued development and optimization of our low-decline, profitable and light oil weighted asset base. National Bank of Canada led the Credit Facility, which includes ATB Financial and Goldman Sachs Bank USA and is comprised of a $100 million reserve-based credit facility and a $50 million operating facility. The Credit Facility is a committed facility subject to a semi-annual borrowing base redetermination occurring on or before June 30^th and November 30^th of each year. The $100 million accordion feature is not subject to fees until drawn.

ABOUT SATURN

Saturn is a returns-driven Canadian energy company focused on the efficient and innovative development of high-quality, light oil weighted assets, supported by an acquisition strategy targeting accretive and complementary opportunities. The Company's portfolio of free-cash flowing, low-decline operated assets in Saskatchewan and Alberta provide a deep inventory of long-term economic drilling opportunities across multiple zones. With an unwavering commitment to building an entrepreneurial and ESG-focused culture, Saturn's goal is to increase per share reserves, production and cash flow at an attractive return on invested capital. The Company's shares are listed for trading on the TSX under ticker 'SOIL' and on the OTCQX under the ticker 'OILSF'. Further information and our corporate presentation are available on Saturn's website at .

INVESTOR & MEDIA CONTACTS

John Jeffrey, MBA – Chief Executive Officer
Tel: +1 (587) 392-7900

Cindy Gray, MBA – VP Investor Relations
Tel: +1 (587) 392-7900
...

READER ADVISORIES

Forward-Looking Information and Statements

Certain information included in this press release constitutes forward-looking information under applicable securities legislation. Forward-looking information typically contains statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project", "scheduled", "will" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this press release may include, but is not limited to: the sufficiency of liquidity for the execution of the business plan and the Company's near and medium term strategic plans.

The forward-looking statements contained in this press release are based on certain key expectations and assumptions made by Saturn, including expectations and assumptions concerning the business plan.

Although Saturn believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Saturn can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual plans and results could differ materially from those currently anticipated due to a number of factors and risks, including the risks set out under "Risk Factors" in Saturn's Management Discussion and Analysis for the three and twelve months ended December 31, 2024, and Annual Information Form for the year ended December 31, 2024, available on SEDAR+ at .

Forward-looking information is based on a number of factors and assumptions which have been used to develop such information, but which may prove to be incorrect. Although Saturn believes that the expectations reflected in its forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because Saturn can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified in this press release, assumptions have been made regarding and are implicit in, among other things, our capital expenditure and drilling programs and future production and growth plans. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used.

The forward-looking information contained in this press release is made as of the date hereof and Saturn undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this press release is expressly qualified by this cautionary statement.

All dollar figures included herein are presented in Canadian dollars, unless otherwise noted.

To view the source version of this press release, please visit

SOURCE: Saturn Oil & Gas Inc.

MENAFN02072025004218003983ID1109754282