Saturn Oil & Gas CEO John Jeffrey on the future of the company and ESG

The year 2020 has affected and changed people around the globe. We now know that nothing can be taken for granted. I hope we will remember it for a long time to come and appreciate the good times more. As far as our company is concerned, we were just as surprised as other market players in our industry. But we also quickly realized that this is also a year of opportunities. We reacted relatively early on and announced that our growth can currently be accelerated most efficiently through acquisitions.

That's true, but we are still pursuing the plan. I am not authorized to tell you in detail today how far we have come, but you can probably imagine that the market environment has slowed down due to the Corona measures. When we acquire something, we want to make sure that the acquisition fits with our strategy and has the potential to be successful for our shareholders. Our team studies the details and performs in-depth due diligence with recognized independent experts. These are all processes that are time-consuming but very important. We have the chance to profit from this year by taking the right step. I am confident that we will succeed.

Wendy Woolsey has over 25 years of experience in the oil industry and supports us as CFO. Jean-Pierre Colin has an excellent network and a vast range of finance and M&A experience. His name is well known in the capital markets and the resources sector. Mr. Colin is a very valuable strategic advisor to Saturn. I am delighted that the two will enrich our professional team and you can probably imagine that we are suitably motivated to complete an acquisition carefully and successfully.

We always strive to make good decisions that are in the best interest of our society and our company. Of course, our room to maneuver is limited due to the measures taken in connection with Covid-19, but in the coming years, normality will be back and we plan to give something back to society and the environment as a beneficiary of these difficult times. In 2020, we added Jim Payne, the CEO of a public ESG company to our board. We already have concrete ideas which we will announce after the completion of a targeted acquisition.

Our company is based in Canada and we enjoy a relatively high reputation as a nation worldwide. I can imagine that there may be a change in market awareness and that the origin of oil that the whole world relies upon will become more important. If we provide the required raw material according to modern environmental standards, then society should also value and prefer it as there is a growing global movement to consume ethical commodities. In some parts of the world, the proceeds from the sale of mineral resources are used to suppress the further development of society and even finance wars. This will not be tolerated in the long run. As far as the price of oil in the coming months and years is concerned, I share the opinion of renowned analysts who see a price for WTI in 2021 at over USD 50.00 per barrel and over USD 60.00 in 2022.