Saga Oil ASA
OSL:SAGA.OTC ISIN:NO0010298318
SAGA Oil ASA is a Norway-based company engaged in the acquisition, development and operation of oil and natural gas fields. SAGA operations are located in Russia, where the Company’s two subsidiaries are located. The first one, PROMGEOTEK LLC is the owner of the Rodnikovsky license, which comprises two oil fields in the Orenburg region in Russia. The second one, SAGA NEFT LLC is a Moscow based management company. SAGA Oil ASA is headquartered in Stavanger, Norway.
News
Saga Oil ASA SAGA Oil ASA sold 3 943 barrels of oil in June, an average of 132 bbl/d. The production, from the company's field in the Orenburg Region of Russia is reflecting the ongoing well stimulation campaign as several wells are off stream for treatment as indicated in earlier communication. The results from these actions are expected to improve production rates in the near future.
Saga Oil ASA Karstein Sie has through his partially owned company Sicom AS, purchased 179 200 shares in SAGA Oil ASA at a price of 6.67 in week 25. After this transaction Sicom AS owns 482 200 shares in SAGA Oil ASA, Sicom AS also owns 13,42% of Saga Petrol which owns 15 000 000 shares in SAGA Oil ASA. Karstein Sie is co-founder and previous board member of SAGA Oil ASA.
Saga Oil ASA SAGA Oil continues progress in its Russian oil venture in Orenburg region. The positive drilling results this spring will lead to a revised reserve potential in addition to the March acquisition of significant new, prospective acreage in Orenburg.
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