Sonoro Confirms Presence of Oil and Gas in the LG-1 Up-dip Well

(via TheNewswire)

CALGARY, Canada / TheNewswire / Nov. 23, 2017 -- Sonoro Energy Ltd. ("Sonoro" or "the Company") (TSX-V: SNV) has cased its LG-1 Up-dip well in West Sulawesi, Indonesia with 4.5" casing and cemented it in place to a depth of 546 metres KB (below the "kelly bushing"), following conventional coring, logging and open-hole drill stem testing ("DST"). This is to allow for evaluations and production testing of several prospective hydrocarbon-bearing zones.

Preliminary interpretation and calibration of the drilling, conventional cores and wireline logs show an interval of 79 metres of reservoir sandstones interbedded with shales in the Pliocene aged Lisu Formation between depths of 295mKB and 500mKB. Of the reservoir sandstones, a minimum of 10.1 metres are individually thick enough (>0.75m) to register as pay using petrophysical methods, where conventional cores clearly indicate the presence of hydrocarbons. Conventional cores and DSTs have shown the majority of the thicker sandstones to be highly permeable and unconsolidated. The Company was able to run three open-hole DSTs, but with sand production, and plugging of surface equipment, which are common with drilling operations in Indonesia, the Company did not run the remaining two DSTs, and proceeded to case the well.

Well deliverability testing is planned to be carried out after further analysis and subsequent cased-hole production testing, before the level of commerciality of the LG structure can be confirmed.

Drilling and services equipment will now be demobilized from the LG-1 Up-dip wellsite. The Company will evaluate all the well data and results to prepare plans to complete and production test the well, which it hopes to carry out during the first quarter of 2018. The Company will be reviewing the plans with SKKMIGAS, Indonesia's government regulator, to obtain further permits and extensions of the license as may be required.

"We are excited about the results we have seen and the opportunity we have potentially opened up. The clear evidence of highly permeable reservoir sands, and the presence of continuous-phase trapped oil and gas, have further de-risked the project." says Richard Wadsworth, CEO and Director of Sonoro Energy. 

"We also remain confident that a much larger opportunity exists in the Budong Budong Production Sharing Contract," adds Mr. Wadsworth, "as similar shallow prospects have already been mapped at the Pliocene Lisu Formation level--several of which appear to be much larger in area than the LG formation."

Dr. Christopher Atkinson, Sonoro's Chairman, says that the original downdip LG-1 well in West Sulawesi indicated that there was a strong possibility of trapped oil and gas in the LG structure. "Consequently this well was drilled with three goals in mind: firstly, to confirm the depositional model of the sandstones; secondly, to prove that the sandstones had reservoir quality; and, finally, to attempt to use open-hole DSTs to provide information on likely flow rates and commerciality," remarks Dr. Atkinson.

"Results from the well and correlation to the original LG-1 well have confirmed that we are dealing with a turbidite depositional system whereby sandstones appear to thicken off the crest of the syndepositional structure. These sandstones are quartz-rich, range from fine to coarse grained, and are highly permeable on the basis of core, wireline log and DST data. With operational and downhole constraints during the open-hole DST technique, our third goal could not be ascertained at this time--hence the decision to case, cement and prepare for a series of cased hole production tests," says Dr. Atkinson. 

"The Updip LG-1 well meets the PSC work program commitments. It has proven our technical ability by utilizing a very different and cost-effective approach. This has further strengthened our reputation with SKKMIGAS and the local community." he adds. 

Mr. Wadsworth further stated "The team has continued to review and evaluate new business opportunities targeting near-term production opportunities. As a result we have recently signed non-binding memorandums of understanding with independent third parties to acquire and farm into two attractive new production sharing contracts in proven basins. These opportunities follow a similar philosophy of approach as with Budong Budong--in that discoveries have been made, and further geological interpretations advanced, with further drilling needed to confirm the commercial potential of these high-impact opportunities. Final due diligence and definitive agreements are being completed, and further information will be announced upon their conclusion."

The Company remains committed to further development of the Budong Budong PSC and the opportunities it is reviewing in Indonesia. The Company will provide more information as analysis, plans, timing and approvals for further testing of the LG-1 Up-dip well are concluded.

About Sonoro

Sonoro is an international oil and gas resource exploration and development company with a focus on Southeast Asia and its onshore Budong Budong production sharing contract in Sulawesi Indonesia. The Company has drilled and successfully cased the LG-1 Up-dip well with oil and gas shows being present and plans for further analysis and production testing proceeding. For further information please contact:

RICHARD WADSWORTH 

CEO and Director 

+1.403.262.3252 

www.sonoroenergy.com

Forward-looking Statements. Certain information in this press release constitute forward-looking statements under applicable securities law. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may," "should," "anticipate," "expects," "estimates,", "seeks" and similar expressions. In particular, without limiting the generality of the foregoing, this press release contains forward-looking information regarding the pursuit of new opportunities in the region of the Budong Budong block and Indonesia. 

Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, interpretation of drilling, coring, logging and well testing results, delays resulting from or inability to obtain required regulatory approvals, inability to advance memorandums of understanding and close definitive agreements, changes in legislation including but not limited to income tax, environmental laws and regulatory matters, and ability to access sufficient capital from internal and external sources. 

Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. 

Additional information on these and other factors that could affect Sonoro's operations or financial results are included in Sonoro's reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or by contacting Sonoro. The forward looking statements contained in this news release are made as of the date of this news release, and Sonoro does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright (c) 2017 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia



Sonoro Begins Drill Stem Testing on Indonesia's Lg-1 Updip Well

(via TheNewswire)

CALGARY, Canada / TheNewswire / Nov. 14, 2017 -- Sonoro Energy Ltd. ("Sonoro" or "the Company") (TSX-V: SNV is pleased to provide an update to drilling operations at its LG-1 Up-dip well, with drill stem testing ("Testing") having commenced on the Budong Budong Production Sharing Contract in West Sulawesi, Indonesia.

Following successful logging of the open hole section from 297m to 549mKB, the Company has identified prospective oil and gas zones for further Testing to determine indicative potential flow rates and reservoir conditions.

The Testing intervals have been further approved by SKKMIGAS, the Indonesian government regulator. This Testing programme has been specifically designed to meet data gathering requirements to support a potential plan of development to the government should results warrant it. The intervals currently being tested are between:

  • - 474m to 495.5mKB;

    - 375m to 401mKB; and

    - 333m to 353mKB.

Note that as there are several stacked sand layers in between claystone, these intervals do not reflect an actual net sand pay but the areas over which the Testing packers are expected to be set.

The commencement of Testing should not be interpreted to mean that commercial rates may be achieved. Final test results of oil and gas productivity, if any, are required to help the Company in assessing commerciality of the project.

Further details and results will be provided once testing and analysis are complete.

About Sonoro

Sonoro is an international oil and gas resource exploration and development company with a focus on Southeast Asia and its onshore Budong Budong production sharing contract in Sulawesi Indonesia. The Company has drilled to total depth for the LG-1 Up-dip appraisal well drilling program on the Budong Budong license offsetting the original LG-1 wellFor further information please contact:

RICHARD WADSWORTH

CEO and Director

+1.403.262.3252

www.sonoroenergy.com

Forward-looking Statements. Certain information in this press release constitute forward-looking statements under applicable securities law. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may," "should," "anticipate," "expects," "estimates,", "seeks" and similar expressions. In particular, without limiting the generality of the foregoing, this press release contains forward-looking information regarding the pursuit of new opportunities in the region of the Budong Budong black.

Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, interpretation of drilling, coring, logging and well testing results, delays resulting from or inability to obtain required regulatory approvals, changes in legislation including but not limited to income tax, environmental laws and regulatory matters, and ability to access sufficient capital from internal and external sources.

Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Additional information on these and other factors that could affect Sonoro's operations or financial results are included in Sonoro's reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or by contacting Sonoro. The forward looking statements contained in this news release are made as of the date of this news release, and Sonoro does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright (c) 2017 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia



Sonoro Reaches Total Depth and Provides Update on Lg-1 Up-Dip Drilling

(via TheNewswire)

CALGARY, Canada / TheNewswire / Nov. 7, 2017 -- Sonoro Energy Ltd. ("Sonoro" or "the Company") (TSX-V: SNV), hereby provides an update to drilling operations at its LG-1 Up-dip well on the Budong Budong Production Sharing Contract ("PSC") in West Sulawesi, Indonesia. 

Coring operations retrieved 27.4 meters of core from depths of 296.0m to 326.9m (90% core recovery). Operations were subsequently switched over to conventional drilling on Saturday, Nov. 4, and proceeded to a total depth of 549m. Logging operations are now under way.

In the core and drilled section, several thin sands ranging between 0.2 to 1.4 meters estimated, were observed with oil and gas shows. Some of the sands were described by an onsite Sonoro geologist as "fast streaming cuts, visible fair porosity, medium to fair sized grains, poorly cemented and good oil shows." Subsequent core analysis is being considered to provide more technical information on these sands. 

Drilling operations were switched to a conventional 61/8" bit after coring proved to be challenging due to higher required mud weights as a result of overpressures and gas encountered. Conventional drilling proceeded efficiently with good hole conditions to a final depth 549.8m. 

Strong oil and gas shows were encountered across various interval from 280.0 to 549.8m, with multiple sands seen interbedded between clay and siltstones. Until logging and drill stem tests ("DSTs") are undertaken, it is too early to make conclusions.

Logging operations from the well are now underway to provide further information on the sands and oil and gas shows encountered. Should log interpretations be encouraging, Sonoro may then proceed to performing DSTs on specific sands to determine indicative potential rates, pressure and other information.

"The discovery of strong oil and gas shows in the recovered cores, mud, and observed cuttings are strong evidence of a petroleum system being present. Additionally we are seeing better quality reservoir sands in the LG-1 Up-dip versus the previous LG-1 well. Following logging and testing, we will be able to better assess all the available information to determine further prospectivity on this structure and extrapolation to the numerous other targets within the Budong Budong PSC," said Sonoro's Chief Executive Officer and Director Richard Wadsworth.

Further details will be provided once the above information is assessed in conjunction with logging and testing results.

About Sonoro

Sonoro is an international oil and gas resource exploration and development company with a focus on Southeast Asia and its onshore Budong Budong production sharing contract in Sulawesi Indonesia. The Company has drilled to total depth for the LG-a Up-dip appraisal well drilling program on the Budong Budong license offsetting the original LG-1 well.  For further information please contact:

RICHARD WADSWORTH 

CEO and Director 

+1.403.262.3252 

www.sonoroenergy.com

Forward-looking Statements. Certain information in this press release constitute forward-looking statements under applicable securities law. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may," "should," "anticipate," "expects," "estimates,", "seeks" and similar expressions. In particular, without limiting the generality of the foregoing, this press release contains forward-looking information regarding the pursuit of new opportunities in the region of the Budong Budong black. 

Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, interpretation of drilling, coring and well testing results, delays resulting from or inability to obtain required regulatory approvals, changes in legislation including but not limited to income tax, environmental laws and regulatory matters, and ability to access sufficient capital from internal and external sources. 

Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. 

Additional information on these and other factors that could affect Sonoro's operations or financial results are included in Sonoro's reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or by contacting Sonoro. The forward looking statements contained in this news release are made as of the date of this news release, and Sonoro does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright (c) 2017 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia



SNV offers LG-1 Up-dip well update, now holds an effective 99.5% working interest in Budong Budong

 

CALGARY, Canada (Oct. 27, 2017)— Sonoro Energy Ltd. and its wholly owned subsidiary Stockbridge Budong Budong B.V. (“Sonoro” or “the Company” or “Stockbridge” ) (TSX-V: SNV) are pleased to announce that, following oil and gas shows and gas kick to surface from 297 meters, as previously reported, the LG-1 Up-dip well has been successfully controlled, cased, cemented and logged to 297m—with coring drilling operations now commencing from 297 to 500m to the target sands.

 

The Company is also pleased to announce that it has resolved with Tately Budong-Budong N.V. (“Tately”) its 28% interest being assigned to the benefit of the Company. This will result in the Company now holding a 99.5% working interest in the Budong Budong block.

 

As originally announced, the Company had a Farmout Agreement effective Jan. 1, 2015 (the “Agreement”) with Tately to farmin to its 28% working interest in the Budong Budong PSC (“PSC”). As approval from the government was not obtained prior to expiry of the Agreement, a revised agreement of Tately’s withdrawal has been completed with the Company and PT Gema Terra Budong-Budong whereby the Company’s working interest share in the Budong-Budong PSC increases from 71.5% to 99.5% and the Company indemnifies Tately against any and all claims with respect to the 28% interest. Should government approval not be received in a timely manner, Tately will hold this interest in trust for the Company.

 

“We are pleased to complete the original intent of the Agreement with Tately, with the Company now holding an effective 99.5% working interest in the Budong Budong PSC. With drilling of the LG-1 Up-dip well having commenced and nearing its target, and  the Company carrying 100% of the costs to date, we wanted to ensure that the intent of the Agreement was resolved prior to concluding this well— ensuring that all future benefits would be to our interest,” says Sonoro’s Chief Executive Officer and Director Richard Wadsworth.

 

About Sonoro

Sonoro is an international oil and gas resource exploration and development company with a focus on Southeast Asia and its onshore Budong Budong production sharing contract in W.Sulawesi Indonesia. The Company has commenced operations for a one well appraisal drilling program on the Budong Budong license offsetting the LG-1 well.  For further information please contact:

 

RICHARD WADSWORTH                                      

CEO and Director                                                

 +1.403.262.3252                     

www.sonoroenergy.com



Sonoro provides update on LG-1 Up-dip drilling

CALGARY, Canada TheNewswire / (Oct. 23, 2017) -- Sonoro Energy Ltd. ("Sonoro" or "the Company") (TSX-V: SNV), is pleased to announce that drilling operations at its LG-1 Up-dip wellsite in West Sulawesi, Indonesia have advanced to a depth of 297 meters, where a gas kick to surface occurred as the drill string was pulled out of the hole.

While drilling through the upper hole section on Sunday, Oct. 22, personnel from Sonoro's drilling contractor PT Advanced Services Indonesia ("ASI") encountered hydrocarbons in the C1-C5 range in the return mud across several thin sands to a depth of 297m, while operations continued to weight up to about 9.9 ppg.

The gas kick was encountered as crews pulled the string out of the hole to prepare for logging and intermediate casing operations. Gas flowed to the surface and was diverted to the flare. Oil shows were also present in the mud.

Sonoro is encouraged by these early signs of oil and gas, and now plans to stabilize the well before logging and casing the well to 297m, so that ASI can then proceed to coring from 300 to 500m where the three main target sands are expected.

"While it's still too early to assume what we may encounter between 300 and 500m, we're excited to see the presence of hydrocarbons prior to reaching our zones of interest below 300m. So far our geological drilling prognosis has been correct but further coring, logging and testing are needed to determine the commercial viability of the Budong Budong project," says Richard Wadsworth, Sonoro's Chief Executive Officer.

About Sonoro

Sonoro is an international oil and gas resource exploration and development company with a focus on Southeast Asia and its onshore Budong Budong production sharing contract in Sulawesi Indonesia. The Company has commenced operations for a one well appraisal drilling program on the Budong Budong license offsetting the LG-1 wellFor further information please contact:

RICHARD WADSWORTH

CEO and Director

+1.403.262.3252

www.sonoroenergy.com

Forward-looking Statements. Certain information in this press release constitute forward-looking statements under applicable securities law. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may," "should," "anticipate," "expects," "estimates,", "seeks" and similar expressions. In particular, without limiting the generality of the foregoing, this press release contains forward-looking information regarding the pursuit of new opportunities in the region of the Budong Budong black.

Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, interpretation of drilling, coring and well testing results, delays resulting from or inability to obtain required regulatory approvals, changes in legislation including but not limited to income tax, environmental laws and regulatory matters, and ability to access sufficient capital from internal and external sources.

Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Additional information on these and other factors that could affect Sonoro's operations or financial results are included in Sonoro's reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or by contacting Sonoro. The forward looking statements contained in this news release are made as of the date of this news release, and Sonoro does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright (c) 2017 TheNewswire - All rights reserved.



Sonoro Announces Results of the Annual and Special Meeting

Calgary, Alberta / TheNewswire / 19 October 2017 - Sonoro Energy Ltd. ("Sonoro" or the "Company") (TSX-V: SNV) is pleased to report that at its annual and special meeting of shareholders held October 19, 2017 (the "Shareholders' Meeting"), each of the current directors of Sonoro, namely, Christopher Atkinson, Richard Wadsworth, Bill Marpe, David Robinson, Ryszard Kurr and David Winter were re-elected for another term. Each of the directors received at least 99% of the votes cast in favour of their re-election.

A total of 83,370,781 common shares of Sonoro (the "Shares") of the 177,314,463 Shares outstanding were voted for the election of the directors at the Shareholders' Meeting, representing 47.02%% of the issued and outstanding Shares. Shareholders voted to re-elect the current directors as follows:

Nominee

Votes For

Votes Withheld

Christopher Atkinson

83,192,696

178,085

Richard Wadsworth

83,369,301

1,480

Bill Marpe

83,192,701

178,080

David Robinson

83,362,696

8,085

Ryszard Kurr

83,171,750

199,031

David Winter

83,362,696

8,085

Shareholders also voted in favour of the other resolutions voted on at the meeting, being the setting of the number of Company directors at six, the appointment of Deloitte LLP, Chartered Accountants, as auditors for the financial year ending December 31, 2017, approval of the Company's amended share option plan and for the consolidation of the Company's Shares up to a four for one basis. The consolidation will be effected at a time to be determined by the directors and announced by a press release of the Company.

About Sonoro

Sonoro is an international oil and gas resource exploration and development company with a focus on Southeast Asia and its onshore Budong Budong production sharing contract in Sulawesi Indonesia. The Company has commenced operations for a one well appraisal drilling program on the Budong Budong license offsetting the LG-1 well.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information please contact:

RICHARD WADSWORTH

Chairman and CEO

+1.403.262.3252

www.sonoroenergy.com

Copyright (c) 2017 TheNewswire - All rights reserved.



Drilling update on LG-1 Up-dip 

CALGARY, Canada (October 11, 2017)— Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV), using a proven coring drilling method that’s new to Indonesia’s oil and gas industry, has begun the next stage of operations for drilling the 8½-inch-diameter hole of its LG-1 appraisal well in the province of West Sulawesi, with a planned intermediate casing depth of 300 meters, to then be followed by coring to main target depths between 300 and 500m. 

The upper-hole sections, with 13 3/8” and 9 5/8” casing, have been cemented and completed by Sonoro’s drilling contractor, Balikpapan-based PTI Advanced Services Indonesia (“ASI”), with the permanent wellhead and BOP (blow out preventor) installed for main-hole drilling operations. 

Upon setting the casing to a 300m depth, expected later this week, coring operations with ASI’s Rig 3 would then begin for the main oil and gas targets between 300 and 500m within the Budong Budong Production Sharing Contract (PSC) lease, says Sonoro CEO and Director Richard Wadsworth.

“What we are achieving here with this coring drilling rig is something that is new to Indonesia’s upstream oil and gas regulator, SKKMIGAS, as well as the overall oil and gas industry here in Indonesia—and potentially provides a paradigm shift for oil and gas exploration in shallower to medium depth targets in Indonesia. Additionally with our coring and testing process we are able to obtain reliable reservoir data to confirm deliverability of the Budong Budong Pliocene reservoirs to unlock the full potential in this basin,” says Mr. Wadsworth. 

“By utilizing this drilling coring and testing system successfully,” he adds, “we believe we would have a competitive and economic advantage on Budong Budong and several other prospects in Indonesia that we’re currently reviewing, and hope to pursue.” 

Since spudding of the LG-1 appraisal well began on Oct. 2, operations have progressed more slowly than expected, due to repairs required to a third-party drilling mud system that was supplied to ASI after operations had commenced. Additional preventative measures were also added for well control, given the anticipated overpressure in the region and previous experience on the original LG-1 well. With a majority of our service contracts being fixed, and relatively low daily variable rates our costs have not materially changed beyond that of our original budget. The mud system is now fully functioning, and Sonoro is now well prepared to handle overpressure should it be encountered. 

“Our teams are working safely and methodically through our drilling program and we are progressing,” says Mr. Wadsworth. “While it is taking longer than we planned, for this first-time operational set up with such a drilling coring rig, we’re pleased with how the rig and the crews are performing.” 



Sonoro Energy commences drilling on LG-1 Up-dip well in Indonesia

CALGARY, Canada / TheNewswire / Oct. 2, 2017 --Sonoro Energy Ltd. ("Sonoro" or "the Company") (TSX-V: SNV), is pleased to announce that drilling has begun at its LG-1 Up-dip appraisal well in Indonesia.

Sonoro's drilling contractor, PTI Advanced Services Indonesia ("ASI"), has rigged up with all personnel and services on site at the LG-1 Up-dip wellsite on the Budong Budong Production Sharing Contract (PSC) lease in West Sulawesi, and has begun drilling operations with its Rig 3.

Sonoro is also pleased to announce that it has received further confirmation from Indonesia's Directorate General of Oil and Gas ("MIGAS") that the exploration period for the Budong Budong PSC remains valid through Jan. 15, 2018, and that Sonoro has until that date to drill, complete and test the LG-1 Up-dip well with no further conditions attached. A MIGAS representative visited the LG-1 Up-dip site in West Sulawesi this past weekend and performed an inspection to its satisfaction, enabling Sonoro to begin drilling operations.

"We are pleased to have the continued support of the Indonesian government regulator SKKMIGAS and MIGAS to commence drilling operations with confidence," said Sonoro CEO and Director Richard Wadsworth.

"With this confirmation and inspection," added Mr. Wadsworth, "we expect the initial drilling to now proceed cautiously in the top hole section, given the documented hydrocarbon overpressure encounters in the region, such that extra precautions are taken to be prepared for potential shallow gas kicks in the upper hole."

Sonoro has posted additional photos of final LG-1 Up-dip rig preparation and establishment to its website, sonoroenergy.com.

 

About Sonoro

Sonoro is an international oil and gas resource exploration and development company with a focus on Southeast Asia and its onshore Budong Budong production sharing contract in Sulawesi Indonesia. The Company has commenced operations for a one well appraisal drilling program on the Budong Budong license offsetting the LG-1 well. For further information please contact:

 

RICHARD WADSWORTH
CEO and Director
+1.403.262.3252
www.sonoroenergy.com

Forward-looking Statements. Certain information in this press release constitute forward-looking statements under applicable securities law. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may," "should," "anticipate," "expects," "estimates,", "seeks" and similar expressions. In particular, without limiting the generality of the foregoing, this press release contains forward-looking information regarding the pursuit of new opportunities in the region of the Budong Budong black.

Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals, changes in legislation including but not limited to income tax, environmental laws and regulatory matters, and ability to access sufficient capital from internal and external sources.

Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Additional information on these and other factors that could affect Sonoro's operations or financial results are included in Sonoro's reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or by contacting Sonoro. The forward looking statements contained in this news release are made as of the date of this news release, and Sonoro does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Drilling rig arrives at West Sulawesi ahead of LG-1 Up-dip spudding activity

CALGARY, C anada / TheNewswire / Septem ber 14, 2017— Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV), is pleased to announce that the drilling rig from PT Advanced Services Indonesia (“ASI”) has mobilized from Balikpapan, sailed across the Makassar Strait, and is now moored and being unloaded in the Indonesian province of West Sulawesi.

Sonoro expects to have the drilling rig moved in the next week to its LG-1 Up-dip site on the Budong Budong Production Sharing Contract (PSC) lease, where it will be readied for drilling operations along with other drilling services. Spudding of the LG-1 Up-dip appraisal well—targeting the Pliocene Lisu sands, with a potential unrisked 15.9 million barrels-of-oil equivalent resource as previously reported—is expected to occur the week of Sept. 25, 2017 or possibly sooner, depending on weather, road conditions, and final inspection and approval by SKKMIGAS to begin drilling.

“ Our team and ASI’s team are now fully focused on mobilizing to the LG-1 Up-dip well site, and getting the rig set up to start drilling operations. It took a lot of effort from everyone involved to get to this point—and now we’re excited to get going, and focused on carrying out drilling operations diligently and safely,” says Sonoro’s Chief Executive Officer and Director Richard Wadsworth.

“ With this being the first well drilled in West Sulawesi since the original LG-1 well in 2010, there is a lot of interest in this well being a success,” he adds.

Sonoro has posted additional photos to its website, detailing the various activities and chronicling the progress made in advance of Budong Budong PSC drilling activity.

About Sonoro

Sonoro is an international oil and gas resource exploration and development company with a focus on Southeast Asia and its onshore Budong Budong production sharing contract in W.Sulawesi Indonesia. The Company has commenced operations for a one well appraisal drilling program on the Budong Budong license offsetting the LG-1 well .   For further information please contact:

 

RICHARD WADSWORTH                      
CEO and Director                      
+1.403.262.3252                    
www.sonoroenergy.com

Forward-looking Statements. Certain information in this press release constitute forward-looking statements under applicable securities law. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may," "should," "anticipate," "expects," "estimates,", "seeks" and similar expressions. In particular, without limiting the generality of the foregoing, this press release contains forward-looking information regarding the pursuit of new opportunities in the region of the Budong Budong black.

Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals, changes in legislation including but not limited to income tax, environmental laws and regulatory matters, and ability to access sufficient capital from internal and external sources.

Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Additional information on these and other factors that could affect Sonoro's operations or financial results are included in Sonoro’s reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or by contacting Sonoro. The forward looking statements contained in this news release are made as of the date of this news release, and Sonoro does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this releas



Sonoro meets with SKKMIGAS to conclude new Budong Budong appraisal well timeline

CALGARY, Canada / TheNewswire / August 25, 2017— Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV), is pleased to announce that its representatives have met with SKKMIGAS, Indonesia’s national oil and gas regulator, and confirmed a revised schedule for Sonoro’s Budong Budong Production Sharing Contract (PSC) appraisal well program in the province of West Sulawesi

The schedule calls for drilling of the LG-1 Up-dip well during the second half of September, testing in October, and time for further evaluation of results, if necessary thereafter. It’s expected that SKKMIGAS will submit this information to MIGAS, the oil and gas directorate general within Indonesia’s Ministry of Energy and Mineral Resources, which overlooks the Budong Budong PSC and its license extension.

Sonoro representatives have also toured the field with PT Advanced Services Indonesia (“ASI”) to review the logistics involved in transporting ASI’s drilling rig to the LG-1 Up-dip site. Despite the significant rains during this trip and over the past few weeks, the road conditions and lease are in excellent shape. Timing for mobilization of the drilling rig is on track for the first week of September.

“ Our team is currently in Balikpapan coordinating with ASI to ensure that all the components and equipment for the rig will integrate with our services and equipment already mobilized to Sulawesi,” says Sonoro’s Chief Executive Officer and Director Richard Wadsworth.

“ After visiting our team in Sulawesi and our site last week, I have renewed confidence in our team’s ability to deliver this well safely, in the time frames now planned—and, even given these delays, at a cost now below our budget.”

Sonoro has also agreed to a mutual release with PT Pontil, the previous drilling rig contractor, on a contract termination, as well as the return of both the performance bond held by Sonoro and the deposit held by PT Pontil.

The Company has filed its Q2, 2017 Financial Statements and Management and Discussion Analysis on SEDAR.

About Sonoro

Sonoro is an international oil and gas resource exploration and development company with a focus on Southeast Asia and its onshore Budong Budong production sharing contract in Sulawesi Indonesia. The Company has commenced operations for a one well appraisal drilling program on the Budong Budong license offsetting the LG-1 well .   For further information please contact:

 

RICHARD WADSWORTH                     
CEO and Director                    
+1.403.262.3252                      

www.sonoroenergy.com

Forward-looking Statements. Certain information in this press release constitute forward-looking statements under applicable securities law. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may," "should," "anticipate," "expects," "estimates,", "seeks" and similar expressions. In particular, without limiting the generality of the foregoing, this press release contains forward-looking information regarding the pursuit of new opportunities in the region of the Budong Budong black.

Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals, changes in legislation including but not limited to income tax, environmental laws and regulatory matters, and ability to access sufficient capital from internal and external sources.

Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Additional information on these and other factors that could affect Sonoro's operations or financial results are included in Sonoro’s reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or by contacting Sonoro. The forward looking statements contained in this news release are made as of the date of this news release, and Sonoro does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .



Sonoro replaces drilling contractor and rig for Budong Budong appraisal well program

Calgary, Canada / TheNewswire / August 16, 2017 —Following repeated delays, Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV), has replaced the drilling contractor for its LG-1 Up-dip appraisal well program in the Budong Budong Production Sharing Contract (PSC) lease in West Sulawesi, Indonesia.

This development follows continued delays in obtaining the necessary final rig certification, and mobilization, well past a deadline of July 24, 2017 that had been stipulated in the contract.

Sonoro has now agreed to the key terms of a contract with PT Advanced Services Indonesia (“ASI”) to provide a hydraulic drilling and coring rig, with all necessary certifications in place, after reviewing available equipment at ASI’s centre of operations in Balikpapan, Indonesia.

The revised timing of a new spud date for the LG-1 Up-dip well will be announced once a new schedule is finalized; initial targets indicate the first half of September 2017 to be a reasonable time frame.

“ We are pleased to have found a well-established company in ASI with a strong track record, a fit-for-purpose drilling and coring rig and operating in Indonesia that is capable of achieving our objectives for the LG-1 Up-dip well. The new rig and its associated equipment have all the necessary certifications in place, allowing us to proceed with confidence in final mobilization plans,” says Sonoro’s Chief Executive Officer and Director Richard Wadsworth.

“ Without having an SKPI certification from Migas (Indonesia’s upstream oil and gas regulator), we would have been exposed to continued delays—and the possibility of failing to meet the requirements of our PSC license,” adds Mr. Wadsworth.

Other associated drilling services and equipment for which Sonoro is responsible—including cementing services, mud services, chemicals, well head, casing and other tubulars—arrived last week at the port of Makassar, on the island of Sulawesi, and were transported by road to the LG-1 site.

“ With the exception of the drilling rig, all other services and equipment are now mobilized, ready for the appraisal program, and prepared to integrate with this new drilling rig,” says Mr. Wadsworth. “We have been very pleased with our team and our local contractors in achieving the delivery of our other support services safely and within the planned timelines.”

 

About Sonoro

Sonoro is an international oil and gas resource exploration and development company with a focus on Southeast Asia and its onshore Budong Budong production sharing contract in Sulawesi Indonesia. The Company has commenced operations for a one well appraisal drilling program on the Budong Budong license offsetting the LG-1 well .   For further information please contact:

 

RICHARD WADSWORTH                     
CEO and Director                     
 +1.403.262.3252                      

www.sonoroenergy.com

Forward-looking Statements. Certain information in this press release constitute forward-looking statements under applicable securities law. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may," "should," "anticipate," "expects," "estimates,", "seeks" and similar expressions. In particular, without limiting the generality of the foregoing, this press release contains forward-looking information regarding the pursuit of new opportunities in the region of the Budong Budong black.

Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals, changes in legislation including but not limited to income tax, environmental laws and regulatory matters, and ability to access sufficient capital from internal and external sources.

Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Additional information on these and other factors that could affect Sonoro's operations or financial results are included in Sonoro’s reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or by contacting Sonoro. The forward looking statements contained in this news release are made as of the date of this news release, and Sonoro does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .



Budong Budong project drilling rig, associated equipment ready for transportation

CALGARY, Canada / TheNewswire / J uly 19, 2017 — Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV) is pleased to report that the drilling rig and all associated services and equipment for its Budong Budong LG-1 Up-dip well in Indonesia have been scheduled to be transported by sea during the week of July 24, 2017.

The drilling rig contracted from PT Pontil, a subsidiary of Major Drilling Group International, has passed the latest stage of certifications, including completion of function and load tests, with final structural certification to be carried out in the next few days. Logistics of moving the drilling rig, along with associated equipment and services, have been finalized with an Indonesian transportation company. Transportation of the rig and equipment from Balikpapan to the province of West Sulawesi, across the Makassar Strait, is expected to take about two days.

 “ We are extremely pleased with the responsiveness and the performance of our local Indonesian service providers. They continue to meet our schedule, and have remained prepared for mobilization,” says Sonoro Chief Executive Officer and Director Richard Wadsworth.

Sonoro has also organized the port-to-port transportation of all other services and equipment from Java to West Sualwesi, which will also begin the week of July 24.

All other project deliverables remain on schedule, and Sonoro expects spudding of the LG-1 Up-dip well to begin in early August 2017.

“ With the final elements of the services being organized, and rig certification almost complete, we’re excited to be entering into the next phase of mobilizing to West Sulawesi, in order to start drilling in early August,” says Mr. Wadsworth.

  

About Sonoro

Sonoro is an international oil and gas resource exploration and development company with a focus on Southeast Asia and its onshore Budong Budong production sharing contract in Sulawesi Indonesia. The Company has commenced operations for a one well appraisal drilling program on the Budong Budong license offsetting the LG-1 well .   For further information please contact:

 

RICHARD WADSWORTH                       
CEO and Director                     
 +1.403.262.3252                      
www.sonoroenergy.com

Forward-looking Statements. Certain information in this press release constitute forward-looking statements under applicable securities law. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may," "should," "anticipate," "expects," "estimates,", "seeks" and similar expressions. In particular, without limiting the generality of the foregoing, this press release contains forward-looking information regarding the pursuit of new opportunities in the region of the Budong Budong black.

Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals, changes in legislation including but not limited to income tax, environmental laws and regulatory matters, and ability to access sufficient capital from internal and external sources.

Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Additional information on these and other factors that could affect Sonoro's operations or financial results are included in Sonoro’s reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or by contacting Sonoro. The forward looking statements contained in this news release are made as of the date of this news release, and Sonoro does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release



Sonoro's Budong Budong LG-1 Up-dip Wellsite Completed and Ready to Accept Drilling Rig

CALGARY, Canada / TheNewswire / July 6, 2017 — Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV) is pleased to report that the site for its Budong Budong appraisal well project in Indonesia is ready for the eventual mobilization of a drilling rig.

Locally based contractors in the province of West Sulawesi have completed the civil works for the LG-1 Up-dip well location, with the exception of some final stone and cleanup works.

Sonoro has also completed civil works for a logistics, storage, offices and staging area at the original LG-1 location. An inventory of drilling materials from the original LG-1 well program, undertaken in 2011, will be moved to this location from its current holding area some 71 kilometres to the south.

Meanwhile, accommodations, catering and food services from local providers have been arranged and approved by the drilling contractor for the drilling program.

All necessary local road clearance permits for the transportation of the drilling equipment and associated services have been organized, along with local transportation services to move the incoming equipment from a West Sulawesi port to the drilling and staging area. For future activities, an alternate port 10 km further away has now been selected, which is less populated but has increased flexibility in landing and logistics.

Independent third party inspection and certifications of the LG-1 Up-dip drilling rig are underway. Once these have been approved, the drilling rig and services—being provided by Indonesia’s PT Pontil, a subsidiary of Major Drilling Group International, per a previously announced letter of intent (LOI) —may begin mobilization to West Sulawesi from Balikpapan. Other services and equipment from Jakarta have also been arranged.

All other project deliverables remain on schedule, and Sonoro expects spudding of the LG-1 Up-dip well to commence in early August 2017.

“With Ramadan and the subsequent Eid al-Fitr holidays having just finished late last week, we’re pleased with how our team and contractors have performed, with continued progress of all aspects of our drilling program,” says Sonoro’s Chief Executive Officer and Director Richard Wadsworth.

A new photo gallery webpage has been added to the Sonoro websit e under the Investor section, with regular image updates tracking progress of the LG-1 Up-dip well program.

 

About Sonoro

Sonoro is an international oil and gas resource exploration and development company with a focus on Southeast Asia and its onshore Budong Budong production sharing contract in Sulawesi Indonesia. The Company has commenced operations for a one well appraisal drilling program on the Budong Budong license offsetting the LG-1 well .   For further information please contact:

 

RICHARD WADSWORTH
CEO and Director                     
 +1.403.262.3252                     
www.sonoroenergy.com

 

Forward-looking Statements. Certain information in this press release constitute forward-looking statements under applicable securities law. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may," "should," "anticipate," "expects," "estimates,", "seeks" and similar expressions. In particular, without limiting the generality of the foregoing, this press release contains forward-looking information regarding the pursuit of new opportunities in the region of the Budong Budong black.

Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals, changes in legislation including but not limited to income tax, environmental laws and regulatory matters, and ability to access sufficient capital from internal and external sources.

Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Additional information on these and other factors that could affect Sonoro's operations or financial results are included in Sonoro’s reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or by contacting Sonoro. The forward looking statements contained in this news release are made as of the date of this news release, and Sonoro does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release



Road and lease construction begins on Sonoro's Budong Budong LG-1 Up-dip well location in Indonesia

CALGARY, Canada / TheNewswire / June 21, 2017 — Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV) is pleased to provide a further update to its progress on the Budong Budong appraisal well project.  

The Company has engaged local contractors to commence construction of the LG-1 updip well location in the Indonesian province of West Sulawesi. Clearing of the road and site began on Saturday, June 17, and as of Tuesday, June 20, approximately 50% of the road and lease construction had been completed.

“The costs for road and lease construction are below our initial expectations,” says Sonoro’s Chief Executive Officer and Director Richard Wadsworth. We’re very pleased with the progress and quality of work that’s been done to date.”

The Company has also made progress in finalizing remaining drilling services, and expects that by the end of this week all letters of intent will be completed, with contracts then to be finalized.

With this progress, the Company remains on schedule to commence drilling in early August.

An updated corporate presentation has been placed on its website at www.sonoroenergy.com

The Company also announces it has engaged FronTier Merchant Capital Group (“FronTier”) to provide investor relations (IR) and marketing services.  FronTier is an Investor Relations group with a home office in Toronto, Canada.  FronTier will assist the Company by increasing market awareness for the company utilizing a number of financial market communications initiatives, including facilitating in-person introductions for the company with institutional and retail brokers in Toronto and other financial capitals, and through media distribution on national television, radio and multiple on-line channels.

Under the terms of the engagement, FronTier has been retained for a 12 month period at $87,000 (plus GST) per annum plus direct expenses. The Company will also grant 300,000 stock options to FronTier at an exercise price of $0.08 as per the Company stock option plan.

This agreement is subject to TSX Venture regulatory approval.

About Sonoro

Sonoro is an international oil and gas resource exploration and development company with a focus on Southeast Asia and its onshore Budong Budong production sharing contract in Sulawesi Indonesia. The Company has commenced operations for a one well appraisal drilling program on the Budong Budong license offsetting the LG-1 well . For further information please contact:

 

RICHARD WADSWORTH
CEO and Director      
 +1.403.262.3252                  
www.sonoroenergy.com

Forward-looking Statements. Certain information in this press release constitute forward-looking statements under applicable securities law. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may," "should," "anticipate," "expects," "estimates,", "seeks" and similar expressions. In particular, without limiting the generality of the foregoing, this press release contains forward-looking information regarding the pursuit of new opportunities in the region of the Budong Budong black.

Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals, changes in legislation including but not limited to income tax, environmental laws and regulatory matters, and ability to access sufficient capital from internal and external sources.

Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Additional information on these and other factors that could affect Sonoro's operations or financial results are included in Sonoro’s reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or by contacting Sonoro. The forward looking statements contained in this news release are made as of the date of this news release, and Sonoro does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .



Sonoro Acquires Land, Obtains Environmental Permit, Signs LOI for Budong Budong Appraisal Well Program

CALGARY, Alberta / TheNewswire / June 13, 2017 – Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV) is pleased to announce that it has purchased land, secured its environmental permit, and identified a drilling contractor for its Budong Budong appraisal well program in West Sulawesi, Indonesia.

Sonoro’s appraisal well program, offsetting the original LG-1 well drilled in 2011, will target the Lariang pliocene “415”, “450” and “490” sands, with drilling expected to begin in early August.

- Drilling Rig: A letter of intent (LOI) has been signed with PT Pontil, an Indonesian subsidiary of Major Drilling Group International, a publicly listed Canadian company (TSX: MDI) with over 700 drilling rigs world wide. The drilling rig is a specialized, fit-for-purpose hydraulic rig ideal for the depth of this LG-1 updip well, which Sonoro believes is an efficient and cost-effective tactic toward possible commercial development of such shallow hydrocarbon resources. A contract is being finalized, and with this LOI in hand, PT Pontil is now proceeding in its planning and permitting of the specified rig, currently located across the Makassar Strait in Balikpapan.

- Environmental Permit: Sonoro has received approval from SKK Migas, Indonesia’s upstream oil and gas regulator, for its environmental plan submitted to drill up to seven (7) wells in the Budong Budong PSC, offsetting the original LG-1 well.

- Land Acquisition: Sonoro has purchased the land for the first appraisal well location, and may now proceed with preparations to construct the land site to accept a drilling rig and its associated services.

Sonoro has further identified and received bids for a majority of the other drilling services involved in the Budong Budong PSC appraisal well program, and hopes to sign these contracts in the next several weeks. With this progress, the Company expects to spud the LG-1 updip well around Aug. 1, 2017, assuming the drilling rig passes its function tests and SKK Migas approvals to commence drilling.

“We are very pleased with the rapid progress our team has made in a short amount of time to bring this appraisal well program together, given the number of contractors and local and national government authorities that we’ve been working with,” says Sonoro’s Chief Executive Officer and Director Richard Wadsworth. “Furthermore, a spud date in early August will be a significant achievement for this basin after many years of inactivity, despite the proven hydrocarbons produced here over a century ago.

“We are looking forward,” adds Mr. Wadsworth, “to identifying the productivity of the LG-1 updip well.”

About Sonoro

Sonoro is an international oil and gas resource exploration and development company with a focus on Southeast Asia and its onshore Budong Budong production sharing contract in West Sulawesi, Indonesia. The Company has commenced planning for a one to two well appraisal drilling program on the Budong Budong license offsetting the LG-1 well .

 

For further information please contact:

RICHARD WADSWORTH
CEO and Director
 +1.403.262.3252
www.sonoroenergy.com

Forward-looking Statements

Certain information in this press release constitute forward-looking statements under applicable securities law. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may," "should," "anticipate," "expects," "estimates,", "seeks" and similar expressions. In particular, without limiting the generality of the foregoing, this press release contains forward-looking information regarding the pursuit of new opportunities in the region of the Budong Budong black.

Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals, changes in legislation including but not limited to income tax, environmental laws and regulatory matters, and ability to access sufficient capital from internal and external sources.

Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Additional information on these and other factors that could affect Sonoro's operations or financial results are included in Sonoro’s reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or by contacting Sonoro. The forward looking statements contained in this news release are made as of the date of this news release, and Sonoro does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .

(Not for distribution to U.S. newswire services, or for dissemination in the United States)



Sonoro Energy appoints Dr. Winter to Board of Directors, adds Mr. Callaway as CFO

CALGARY, Alberta / TheNewswire / June 1, 2017 – Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV) is pleased to announce that Dr. David A. Winter has been appointed to the Company’s  Board of Directors, and Mr. Dean Callaway has joined Sonoro as its Chief Financial Officer.   Both appointments are subject to TSXV approval.  

Dr. Winter is currently the CEO of Horizon Petroleum Ltd., a TSXV publicly listed international oil and gas company focused on the development of European gas resources. He has over 33 years of international oil and gas industry experience in Southeast Asia, Latin America, the Middle East, North Africa, and North America. He is also a Co-Founder and Director of Canacol Energy Ltd., a publicly traded oil and gas company listed on both the Toronto and Colombia stock exchanges and a Director of private Miramar Hydrocarbons Ltd. Previously, Dr. Winter was a founder and CEO of Excelsior Energy Ltd a junior oil sands development company which was sold in 2010. Dr. Winter acquired his extensive international oil and gas experience from senior management roles at Calvalley Petroleum, where he was Senior Vice President, Exploration and Production; and at Alberta Energy Company, where he was Vice President, International Exploration. He has also held senior management and technical positions with Canadian Occidental, Sun Oil and BP.  David holds Bachelor of Science (Hons), Master of Science and Doctorate degrees in geology.  His experience included living and working internationally in China, Indonesia, Australia and the Republic of Yemen.

Mr. Callaway has been involved in the international energy industry for more than 23 years. Over the past 10 years he has been involved with several private and public international oil and gas companies in the role as Chief Financial Officer, including Bukit Energy (Indonesia), Sun God Resources (Mexico), PanAfrican Oil (Namibia, Congo), Gallic Energy (France, Australia), TG World (Philippines, Alaska, Niger) and TIC (Thailand). Prior to changing career paths into the junior international oil and gas sector, Mr. Callaway held senior roles in M&As and corporate planning at Terasen Pipelines; corporate and international finance at Enbridge and TransAlta; and  investment banking at Merrill Lynch. Mr. Callaway holds a Bachelor of Commerce degree from Dalhousie University, an International MBA from Nijenrode University in the Netherlands, and a Chartered Professional Accountant designation.

“We are thrilled to have Dr. Winter and Mr. Callaway adding their considerable experience, expertise and guidance to our leadership group at Sonoro,” says Richard Wadsworth, Sonoro Energy’s CEO.

“We’re focused on the successful execution of an appraisal well to offset the original LG-1 discovery well in Indonesia’s Budong Budong block this summer, as well as pursuing new opportunities in the region,” adds Mr. Wadsworth. “The addition of David and Dean to our team—given their international and Indonesian experience—are a big step toward achieving those goals.”

The Company also thanks Mr. Darren Moulds for his past services as Chief Financial Officer and wishes him success in his future endeavors.

In association with this announcement the Company has granted 11,900,000 stock options to Management, employees and consultants exercisable at $0.08 per share over a 5 year term in accordance with the company stock option plan.  The terms and conditions of the grant are subject to the approval of the TSX Venture Exchange.

 

 

About Sonoro

Sonoro is an international oil and gas resource exploration and development company with a focus on Southeast Asia and its onshore Budong Budong production sharing contract in Sulawesi Indonesia. The Company has commenced planning for a one to two well appraisal drilling program on the Budong Budong license offsetting the LG-1 well . For further information please contact:

 

RICHARD WADSWORTH                        

CEO and Director                     

 +1.403.262.3252                      

www.sonoroenergy.com

 

Forward-looking Statements

Certain information in this press release constitute forward-looking statements under applicable securities law. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may," "should," "anticipate," "expects," "estimates,", "seeks" and similar expressions. In particular, without limiting the generality of the foregoing, this press release contains forward-looking information regarding the pursuit of new opportunities in the region of the Budong Budong black.

Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals, changes in legislation including but not limited to income tax, environmental laws and regulatory matters, and ability to access sufficient capital from internal and external sources.

Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Additional information on these and other factors that could affect Sonoro's operations or financial results are included in Sonoro’s reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or by contacting Sonoro. The forward looking statements contained in this news release are made as of the date of this news release, and Sonoro does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release