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