Saturn Minerals Inc. (TSXV:SMI) announced that when drilling for coal in Western Manitoba it discovered a layer of oil source rock that is 2.65 meters thick.
As quoted in the press release:
Initial microscope examination of the Rat Creek Source Rock confirmed that it contains marine-type organic matter with large amounts of fluorescent oil-prone components. Based on these results, the Company submitted the source rock to Weatherford Labs of Houston, Texas, for additional examination. Recently received results from Weatherford Labs has confirmed the Rat Creek Source Rock possesses highly oil-prone organic matter and has excellent oil generative potential with total organic content (TOC) values of 7.32% and 14.17% with hydrogen indices (HI) of 566 and 578. By industry standards, 5% TOC or higher is considered to be very good to excellent oil and gas source rock.