Bayhorse Silver Inc. said April 23 that Saturn Minerals Inc. received a permit and license to drill its first conventional light oil well at its Bannock Creek property. The license was granted through the Oil & Gas Conservation Act-Province of Saskatchewan, the company added.

Saturn contracted with Calgary, Alberta-based West Rock Energy Consultants Ltd. to provide logistical support and drilling. The effort will be led by Craig Boland and Chris Barton, petroleum geologists.

After road ban restrictions are lifted, Saturn will move the drilling rig and crew to the drillsite.

The well’s location in Bannock Creek was found during a recently completed 2-D seismic program for potential light oil traps in the stacked Red River, Winnipeg and Deadwood formations of the northeastern Williston Basin in Saskatchewan.

Data confirmed the anticlinal four-way closure of the drillable prospect at Bannock Creek. The closed fault-bounded rollover structure is at least 480 acres and could contain 38 MMbbl of resource in place from the three targeted reservoirs.

The structure’s closure is favorable with existing, producing light oil pools south of Bannock Creek This prospect will be drilled to less than 1,000 m.

Bayhorse Silver Inc. and Saturn Minerals Inc. are both based in Vancouver, British Columbia.