Saturn Announces Successful Petroleum & Natural Gas Bid

- February 15th, 2011

Saturn Minerals Inc. (CVE:SMI) announce that Saturn has submitted a successful bid for Petroleum & Natural Gas Exploration Permit 3091.

Saturn Minerals Inc. (TSXV:SMI) announce that Saturn has submitted a successful bid for Petroleum & Natural Gas Exploration Permit 3091.

The press release is quoted as saying:

The Bid was submitted by Saturn in conjunction with Gulf Shores Resources Ltd. (GUL: TSX.V) and a privately owned Canadian oil company (collectively, the “Companies”) for a total work commitment of $500,000. Saturn funded 50% of the cost of the bid with Gulf Shores Resources Ltd. and the privately owned Canadian oil company funding 25% each. The Companies will enter into a formal Operating Agreement for the exploration of the Little Swan Project.

Click here to access the entire press release

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