Saturn Oil & Gas Inc. (TSX:SOIL) entered into a definitive agreement to acquire Two Oil Weighted Asset Packages in Southern Saskatchewan from Crescent Point Energy Corp. (TSX:CPG) for CAD 525 million on May 6, 2024. Transaction is expected to close on June 14, 2024, subject to customary approvals and closing conditions.

The Acquisition will be funded through a CAD 625 million debt commitment provided by Goldman Sachs, subject to customary conditions, which will replace Saturn's existing senior secured term loan facility, as well as a bought-deal subscription receipt financing for aggregate gross proceeds of approximately CAD 100 million. Scotiabank is acting as financial advisor and National Bank Financial Inc. is acting as strategic advisor to Crescent Point for the sale of its Flat Lakeasset in southeast Saskatchewan. TD Securities Inc. and TPH&Co., the energy business of Perella Weinberg Partners, are acting as financial advisors to Crescent Point for the sale of its Battrum asset in southwest Saskatchewan.

Echelon Capital Markets is acting as financial advisor to Saturn on the Acquisition. Goldman Sachs is acting as strategic advisor to Saturn on the Acquisition and has provided the Debt Commitment (subject to customary conditions); and National Bank Financial Markets is acting as Lead Arranger and sole Bookrunner on the Company's new RBL. Dentons Canada LLP is acting as Canadian legal counsel and Baker Botts LLP is acting as US legal counsel to Saturn with respect to the Acquisition, the Offering, and the Debt Commitment.

DLA Piper, LLP is acting as legal advisor to the Underwriters. Latham Watkins LLP and Torys LLP are acting as US and Canadian counsel to Goldman Sachs, respectively.