SONORO ENERGY

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SONORO ENERGY

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Sonoro is an international oil and gas resource exploration and development company with a focus on Southeast Asia an… …

people111 Members

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8020Admin started the topic SNV News Alert: Announces Private Placement Offering in group SONORO ENERGY

Sonoro Announces Private Placement Offering to Fund Further Activities at Budong Budong

(via TheNewswire)

Calgary, Alberta / TheNewswire / January 26, 2018 – Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV) announces

that it intends to raise up to $4,500,000 by way of a non-brokered private placement (the “Offering”) of units, where a unit (a “Unit”) consists of one common share (a “Common Share”) of the Company and one half of one common share purchase warrant (a “Warrant”) of the Company. The Unit will be priced at $0.13 per share which represents a 23.5% discount from the closing price on January 24, 5018. Each whole Warrant entitles the holder to purchase one Common Share within two years from the Closing Date (as hereinafter defined) of the Offering at a price of $0.20 per Common Share.

As part of this non-brokered financing, warrants are subject to an acceleration clause. This clause states that if, four months and one day after the warrants are issued, the closing price of the common shares of the Company, on the principal market on which such shares trade, is equal to, or exceeds, C$0.30 for 10 consecutive trading days (with the 10th such trading date hereafter referred to as the “Eligible Acceleration Date”), the warrant expiry date shall accelerate to a date 20 calendar days after issuance of a press release by the Corporation announcing the reduced warrant term–provided, no more than five business days following the Eligible Acceleration Date, that, the press release is issued; and notices are sent to all warrant holders.

The Offering is being made pursuant to certain Canadian prospectus exemptions, including the “existing securityholder” exemption and “purchasers advised by investment dealers” exemption, where applicable. Both the “existing securityholder” and “purchasers advised by investment dealers” exemptions are collectively referred to as the “Existing Secuityholder and Retail Investor Exemptions”. Existing shareholders of the Company who wish to subscribe for Units pursuant to the Offering, who held common shares of the Company as of January 25, 2018 and who continue to hold common shares of the Company, and who are permitted to subscribe under the “existing securityholder” exemption should contact the Company pursuant to the contact information set forth below in order to participate in the Offering.

The Offering is expected to close on or about February 19, 2018 (the “Closing Date”) but may close earlier or later or not at all. Closing of the Offering is also subject to TSX Venture final acceptance.

The Offering:

The Company intends to raise up to $4,500,000 in gross proceeds, which would represent 34,615,385 Units. The Offering is not subject to any individual minimum aggregate subscriptions or overall minimum Offering amount. With that said, the Company is seeking to raise at least $2,500,000 in order to carry out further extension of the license work including testing the appraisal well drilling, general working capital and potential new business opportunities.

Although the Company intends to use the gross proceeds of the Offering as described, the actual allocation of gross proceeds may vary from the uses set forth above, depending on future operations, capital commitments, additional financing requirements or unforeseen events or opportunities. If the Offering is not fully subscribed for $2,500,000, the Company will apply the gross proceeds of the Offering to the above uses in such priority and in such proportions as the Board of Directors and Management of the Company determine is in in the best interests of the Company.

All securities issued in connection with the Offering will be subject to a four month hold period from the date of issuance of such securities. The Company confirms that there is no material fact or material change related to the Company which has not been generally disclosed.

With the LG-1 Updip well having been successfully drilled and discovered hydrocarbons, the Company has presented its request for a 3 year extension with the Indonesia government to carry out further evaluation, testing, seismic and drilling on the Budong Budong license and received positive support from SKKMIGAS. The final approval is subject to MIGAS approval, which the company is expecting in due course. Following the closing of this Offering, the Company expects to finalize contracts for evaluation and testing of the LG-1 updip well and to continue to pursue new opportunities which will add shareholder value.

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 recently finished drilling the LG-1 Updip well and discovered hydrocarbons, potentially making this a new attractive basin for oil and gas exploration and production.

Forward-looking Statements

Certain information in this news release constitutes 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 Offering, the Company’s Budong Budong appraisal well, drilling operations commencement and timing, and how the proceeds from the Offering will be used by the Company.

Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with the Offering failing to be fully subscribed for or not subscribed for at all, 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 press 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 press 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.

For further information please contact:

Richard Wadsworth, CEO and Director or Dean Callaway, CFO at +1.403.262.3252

[email protected]

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMATION IN THE UNITED STATES

Copyright (c) 2018 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia



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Todd Kimberley posted an update in the group SONORO ENERGY

Sonoro announces private placement offering to fund further activities at Budong Budong CALGARY, Canada (January 26, 2018)—Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV) announces that it intends to raise up to $4,500,000 by way of a non-brokered private placement (the “Offering”) of units, where a unit (a “Unit”) consists of one common share (a “Common Share”) of the Company and one half of one common share purchase warrant (a “Warrant”) of the Company. The Unit will be priced at $0.13 per share which represents a 23.5% discount from the closing price on January 24, 5018. Each whole Warrant entitles the holder to purchase one Common Share within two years from the Closing Date (as hereinafter defined) of the Offering at a price of $0.20 per Common Share.

http://www.sonoroenergy.com/newsfeed/2018/1/26/sonoro-announces-private-placement-offering-to-fund-further-activities-at-budong-budong



HOV4 days
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HOV posted an update in the group SONORO ENERGY

Has anyone heard anything from the company? Anyone?



HOV8 days
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HOV posted an update in the group SONORO ENERGY

I am hoping that Sonoro will have a PR soon this week.



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8020 Admin17 days
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8020Admin started the topic SNV News Alert: Confirms results with government regulator in group SONORO ENERGY

Sonoro confirms results with government regulator and completion of consolidation of Common Shares

(via TheNewswire)

CALGARY, Canada / TheNewswire / January 12, 2018 — Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV) is pleased to announce that following the LG-1 Updip well being cased and cemented, the Company fully demobilized the drilling rig and associated equipment and services. The Company is now undertaking further well analysis of the well results in line with standard industry practices.

The preliminary conclusions are as follows:

  • – The four way dip closure of the LG structure is sealed by a claystone/shale interval which is at least 200m thick (evident from overpressure seen below the seal throughout the drilling and testing of the well)

    – The reservoir intervals comprise interbedded packages of sandstones deposited by turbidite currents in a deepwater environmental setting.

    – Initial analysis indicates that the sandstones are clearly porous and largely unconsolidated

    – Petrophysical analysis, conventional core and cuttings data indicate a 200m interval of interest in the well of which 79m are sandstones with reservoir quality (> 30% log porosity). The aim of the Drill Stem Test (“DST”) program was to accurately determine how much of this 79m of potential reservoir would actually flow hydrocarbons as most are too thin individually to calculate as pay using the resistivity log

    – The open hole DST results were constrained by mechanical problems brought on by the unconsolidated nature of the sandstones. Although hydrocarbons flowed to surface they did so in an uncontrolled manner which did not allow for accurate quantification.

    – The unconsolidated nature of the sandstones may indicate high permeabilities, which together with the overpressures noted while drilling could provide the opportunity for strong productivity rates in future cased hole well testings.

    – Results confirm that the Pliocene Lisu Formation is likely to be a valid exploration target throughout the basin where several other leads and prospects have been mapped.

The Company has also met with SKK Migas, the Indonesian oil and gas regulator, to present the results of the well on the Budong Budong PSC land. SKK Migas has agreed that further analysis and extended production tests is warranted to prove commerciality. Subsequent to this meeting, the Company has submitted its extension request to SKK Migas on the current license to continue with the program. The current license is set to expire on January 15, 2018 and the Company expects to receive a multi-year extension on the Budong Budong PSC imminently.

The Company also announces that it has completed it’s previously announced consolidation of common shares at a ratio of 1 common share for 4 common shares. The shares will trade on a post consolidation basis on January 12, 2018. Subsequent to the share consolidation, the Company will have 44,328,616 common shares and 16,071,236 common share warrants outstanding.

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. For further information please contact:

RICHARD WADSWORTH, CEO and Director or DEAN CALLAWAY, CFO at +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) 2018 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia



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DArcy17 days
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DArcy posted an update in the group SONORO ENERGY

Congratulations to the Sonoro Investor Group, for crossing over the 100 members mark today!



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K. agr18 days
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K. agr posted an update in the group SONORO ENERGY

Given yesterday's trade and today, I would like to ask the company to come up with an update. Has Sonoro started to production test well? when? Have the permits been extended? Have other oil companies shown interest in Budong Budong? Would you also appreciate if you can give some timelines? Thanks



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philippe Vanbelleghem posted an update in the group SONORO ENERGY

https://simplywall.st/stocks/ca/energy/tsxv-snv/sonoro-energy-shares/news/should-you-invest-in-the-energy-sector-and-sonoro-energy-ltd-tsxvsnv/



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Richard Wadsworth posted an update in the group SONORO ENERGY

001 is Anonymous. Many brokers sell through Anonymous to not disclose themselves or their clients.



K. agr2 months
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K. agr posted an update in the group SONORO ENERGY

The fact that 001 continues to dump makes me very suspicious, hmm what do they know? Should I be worried? what are your thoughts about 001?



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Richard Wadsworth posted an update in the group SONORO ENERGY

Hi everyone, apologies for the delayed response with my travels. To answer the last question, we were unable to obtain oil and gas rates from the open hole DST tests with the unconsolidated sand and hole conditions not allowing the packers to set properly in the zones of interest. This is one of the risks when running open hole DST's, and not uncommon to Indonesia or other fields with sands and pressure of this nature. We ran these DST's in the hopes of getting rates sooner instead of having to go to the next steps with cased hole production casing, completion and production testing to surface systems. We could not risk trying to rerun DST's with these conditions over the target sands and thus cased the well so we could come back to it in a much more controlled, safe and better way to test it, which is a normal practice onshore. When we pulled the DST string out of the hole we took further kicks to surface and had to divert the mud (containing gas and oil) to the diverter tank, poor boy separator and flare. Rates can not be accurately calculated on this basis. Hope this helps in answering your question. Kind Regards, Richard



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philippe Vanbelleghem posted an update in the group SONORO ENERGY

shouldn't it be better to bring out some numbers to ? We all now that the gas & oil is there , but @ the end it's the amount of barrels that comes to the market for sale . This can be a huge different for the stock price



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8020 Admin2 months
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8020Admin started the topic News Alert: Confirms Presence of Oil and Gas in the LG-1 Up-dip Well in group SONORO ENERGY

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



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philippe Vanbelleghem posted an update in the group SONORO ENERGY

Sonoro Energy confirms LG-1 well has oil and gas 2017-11-23 08:29 ET – News Release Mr. Richard Wadsworth reports SONORO CONFIRMS PRESENCE OF OIL AND GAS IN THE LG-1 UP-DIP WELL Sonoro Energy Ltd. has cased its LG-1 up-dip well in West Sulawesi, Indonesia, with 4.5-inch 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 295 m KB and 500 m KB. Of the reservoir sandstones, a minimum of 10.1 metres are individually thick enough (over 0.75 m) 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 well site. 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 licence 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 derisked the project," says Richard Wadsworth, chief executive officer 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 down dip 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 Energy Ltd. 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. We seek Safe Harbor. © 2017 Canjex Publishing Ltd. All rights reserved.



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Andy Chow posted an update in the group SONORO ENERGY

I see anon continuing to reload and sell at 0.03.



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SONORO ENERGY

lockPrivate Group

Sonoro is an international oil and gas resource exploration and development company with a focus on Southeast Asia an……

people111 Members

SONORO ENERGY

lockPrivate Group

Sonoro is an international oil and gas resource exploration and development company with a focus on Southeast Asia an… …

people111 Members

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8020Admin started the topic SNV News Alert: Announces Private Placement Offering in group SONORO ENERGY

Sonoro Announces Private Placement Offering to Fund Further Activities at Budong Budong

(via TheNewswire)

Calgary, Alberta / TheNewswire / January 26, 2018 – Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV) announces

that it intends to raise up to $4,500,000 by way of a non-brokered private placement (the “Offering”) of units, where a unit (a “Unit”) consists of one common share (a “Common Share”) of the Company and one half of one common share purchase warrant (a “Warrant”) of the Company. The Unit will be priced at $0.13 per share which represents a 23.5% discount from the closing price on January 24, 5018. Each whole Warrant entitles the holder to purchase one Common Share within two years from the Closing Date (as hereinafter defined) of the Offering at a price of $0.20 per Common Share.

As part of this non-brokered financing, warrants are subject to an acceleration clause. This clause states that if, four months and one day after the warrants are issued, the closing price of the common shares of the Company, on the principal market on which such shares trade, is equal to, or exceeds, C$0.30 for 10 consecutive trading days (with the 10th such trading date hereafter referred to as the “Eligible Acceleration Date”), the warrant expiry date shall accelerate to a date 20 calendar days after issuance of a press release by the Corporation announcing the reduced warrant term–provided, no more than five business days following the Eligible Acceleration Date, that, the press release is issued; and notices are sent to all warrant holders.

The Offering is being made pursuant to certain Canadian prospectus exemptions, including the “existing securityholder” exemption and “purchasers advised by investment dealers” exemption, where applicable. Both the “existing securityholder” and “purchasers advised by investment dealers” exemptions are collectively referred to as the “Existing Secuityholder and Retail Investor Exemptions”. Existing shareholders of the Company who wish to subscribe for Units pursuant to the Offering, who held common shares of the Company as of January 25, 2018 and who continue to hold common shares of the Company, and who are permitted to subscribe under the “existing securityholder” exemption should contact the Company pursuant to the contact information set forth below in order to participate in the Offering.

The Offering is expected to close on or about February 19, 2018 (the “Closing Date”) but may close earlier or later or not at all. Closing of the Offering is also subject to TSX Venture final acceptance.

The Offering:

The Company intends to raise up to $4,500,000 in gross proceeds, which would represent 34,615,385 Units. The Offering is not subject to any individual minimum aggregate subscriptions or overall minimum Offering amount. With that said, the Company is seeking to raise at least $2,500,000 in order to carry out further extension of the license work including testing the appraisal well drilling, general working capital and potential new business opportunities.

Although the Company intends to use the gross proceeds of the Offering as described, the actual allocation of gross proceeds may vary from the uses set forth above, depending on future operations, capital commitments, additional financing requirements or unforeseen events or opportunities. If the Offering is not fully subscribed for $2,500,000, the Company will apply the gross proceeds of the Offering to the above uses in such priority and in such proportions as the Board of Directors and Management of the Company determine is in in the best interests of the Company.

All securities issued in connection with the Offering will be subject to a four month hold period from the date of issuance of such securities. The Company confirms that there is no material fact or material change related to the Company which has not been generally disclosed.

With the LG-1 Updip well having been successfully drilled and discovered hydrocarbons, the Company has presented its request for a 3 year extension with the Indonesia government to carry out further evaluation, testing, seismic and drilling on the Budong Budong license and received positive support from SKKMIGAS. The final approval is subject to MIGAS approval, which the company is expecting in due course. Following the closing of this Offering, the Company expects to finalize contracts for evaluation and testing of the LG-1 updip well and to continue to pursue new opportunities which will add shareholder value.

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 recently finished drilling the LG-1 Updip well and discovered hydrocarbons, potentially making this a new attractive basin for oil and gas exploration and production.

Forward-looking Statements

Certain information in this news release constitutes 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 Offering, the Company’s Budong Budong appraisal well, drilling operations commencement and timing, and how the proceeds from the Offering will be used by the Company.

Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with the Offering failing to be fully subscribed for or not subscribed for at all, 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 press 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 press 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.

For further information please contact:

Richard Wadsworth, CEO and Director or Dean Callaway, CFO at +1.403.262.3252

[email protected]

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMATION IN THE UNITED STATES

Copyright (c) 2018 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia



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Todd Kimberley posted an update in the group SONORO ENERGY

Sonoro announces private placement offering to fund further activities at Budong Budong CALGARY, Canada (January 26, 2018)—Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV) announces that it intends to raise up to $4,500,000 by way of a non-brokered private placement (the “Offering”) of units, where a unit (a “Unit”) consists of one common share (a “Common Share”) of the Company and one half of one common share purchase warrant (a “Warrant”) of the Company. The Unit will be priced at $0.13 per share which represents a 23.5% discount from the closing price on January 24, 5018. Each whole Warrant entitles the holder to purchase one Common Share within two years from the Closing Date (as hereinafter defined) of the Offering at a price of $0.20 per Common Share.

http://www.sonoroenergy.com/newsfeed/2018/1/26/sonoro-announces-private-placement-offering-to-fund-further-activities-at-budong-budong



HOV4 days
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HOV posted an update in the group SONORO ENERGY

Has anyone heard anything from the company? Anyone?



HOV8 days
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HOV posted an update in the group SONORO ENERGY

I am hoping that Sonoro will have a PR soon this week.



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8020 Admin17 days
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8020Admin started the topic SNV News Alert: Confirms results with government regulator in group SONORO ENERGY

Sonoro confirms results with government regulator and completion of consolidation of Common Shares

(via TheNewswire)

CALGARY, Canada / TheNewswire / January 12, 2018 — Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV) is pleased to announce that following the LG-1 Updip well being cased and cemented, the Company fully demobilized the drilling rig and associated equipment and services. The Company is now undertaking further well analysis of the well results in line with standard industry practices.

The preliminary conclusions are as follows:

  • – The four way dip closure of the LG structure is sealed by a claystone/shale interval which is at least 200m thick (evident from overpressure seen below the seal throughout the drilling and testing of the well)

    – The reservoir intervals comprise interbedded packages of sandstones deposited by turbidite currents in a deepwater environmental setting.

    – Initial analysis indicates that the sandstones are clearly porous and largely unconsolidated

    – Petrophysical analysis, conventional core and cuttings data indicate a 200m interval of interest in the well of which 79m are sandstones with reservoir quality (> 30% log porosity). The aim of the Drill Stem Test (“DST”) program was to accurately determine how much of this 79m of potential reservoir would actually flow hydrocarbons as most are too thin individually to calculate as pay using the resistivity log

    – The open hole DST results were constrained by mechanical problems brought on by the unconsolidated nature of the sandstones. Although hydrocarbons flowed to surface they did so in an uncontrolled manner which did not allow for accurate quantification.

    – The unconsolidated nature of the sandstones may indicate high permeabilities, which together with the overpressures noted while drilling could provide the opportunity for strong productivity rates in future cased hole well testings.

    – Results confirm that the Pliocene Lisu Formation is likely to be a valid exploration target throughout the basin where several other leads and prospects have been mapped.

The Company has also met with SKK Migas, the Indonesian oil and gas regulator, to present the results of the well on the Budong Budong PSC land. SKK Migas has agreed that further analysis and extended production tests is warranted to prove commerciality. Subsequent to this meeting, the Company has submitted its extension request to SKK Migas on the current license to continue with the program. The current license is set to expire on January 15, 2018 and the Company expects to receive a multi-year extension on the Budong Budong PSC imminently.

The Company also announces that it has completed it’s previously announced consolidation of common shares at a ratio of 1 common share for 4 common shares. The shares will trade on a post consolidation basis on January 12, 2018. Subsequent to the share consolidation, the Company will have 44,328,616 common shares and 16,071,236 common share warrants outstanding.

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. For further information please contact:

RICHARD WADSWORTH, CEO and Director or DEAN CALLAWAY, CFO at +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) 2018 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia



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DArcy17 days
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DArcy posted an update in the group SONORO ENERGY

Congratulations to the Sonoro Investor Group, for crossing over the 100 members mark today!



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K. agr18 days
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K. agr posted an update in the group SONORO ENERGY

Given yesterday's trade and today, I would like to ask the company to come up with an update. Has Sonoro started to production test well? when? Have the permits been extended? Have other oil companies shown interest in Budong Budong? Would you also appreciate if you can give some timelines? Thanks



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philippe Vanbelleghem posted an update in the group SONORO ENERGY

https://simplywall.st/stocks/ca/energy/tsxv-snv/sonoro-energy-shares/news/should-you-invest-in-the-energy-sector-and-sonoro-energy-ltd-tsxvsnv/



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Richard Wadsworth posted an update in the group SONORO ENERGY

001 is Anonymous. Many brokers sell through Anonymous to not disclose themselves or their clients.



K. agr2 months
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K. agr posted an update in the group SONORO ENERGY

The fact that 001 continues to dump makes me very suspicious, hmm what do they know? Should I be worried? what are your thoughts about 001?



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Disclaimer

Richard Wadsworth posted an update in the group SONORO ENERGY

Hi everyone, apologies for the delayed response with my travels. To answer the last question, we were unable to obtain oil and gas rates from the open hole DST tests with the unconsolidated sand and hole conditions not allowing the packers to set properly in the zones of interest. This is one of the risks when running open hole DST's, and not uncommon to Indonesia or other fields with sands and pressure of this nature. We ran these DST's in the hopes of getting rates sooner instead of having to go to the next steps with cased hole production casing, completion and production testing to surface systems. We could not risk trying to rerun DST's with these conditions over the target sands and thus cased the well so we could come back to it in a much more controlled, safe and better way to test it, which is a normal practice onshore. When we pulled the DST string out of the hole we took further kicks to surface and had to divert the mud (containing gas and oil) to the diverter tank, poor boy separator and flare. Rates can not be accurately calculated on this basis. Hope this helps in answering your question. Kind Regards, Richard



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philippe Vanbelleghem posted an update in the group SONORO ENERGY

shouldn't it be better to bring out some numbers to ? We all now that the gas & oil is there , but @ the end it's the amount of barrels that comes to the market for sale . This can be a huge different for the stock price



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8020 Admin2 months
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8020Admin started the topic News Alert: Confirms Presence of Oil and Gas in the LG-1 Up-dip Well in group SONORO ENERGY

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



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philippe Vanbelleghem posted an update in the group SONORO ENERGY

Sonoro Energy confirms LG-1 well has oil and gas 2017-11-23 08:29 ET – News Release Mr. Richard Wadsworth reports SONORO CONFIRMS PRESENCE OF OIL AND GAS IN THE LG-1 UP-DIP WELL Sonoro Energy Ltd. has cased its LG-1 up-dip well in West Sulawesi, Indonesia, with 4.5-inch 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 295 m KB and 500 m KB. Of the reservoir sandstones, a minimum of 10.1 metres are individually thick enough (over 0.75 m) 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 well site. 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 licence 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 derisked the project," says Richard Wadsworth, chief executive officer 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 down dip 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 Energy Ltd. 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. We seek Safe Harbor. © 2017 Canjex Publishing Ltd. All rights reserved.



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Andy Chow posted an update in the group SONORO ENERGY

I see anon continuing to reload and sell at 0.03.



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