SNV:CC - Sonoro Appoints Sara Akbar and Henry Legarre to Board of Directors
(TheNewswire)
Calgary, A B - TheNewswire - June 21, 2023 - Sonoro Energy Ltd. (“ Sonoro ” or the “ Company ”) (TSXV:SNV.H) is pleased to announce that Sara Akbar and Henry Legarrehave agreed to join the Board of Directors of Sonoro Energy Ltd,subject to final TSXV exchange approval.
Sara has over 30 years of experience leading andbuilding oil and gas companies, services and projects in the MiddleEast and North Africa. Sara is currently the Chairman and CEO of OilServ Kuwait, a leading integrated oilfield services company in theMiddle East and North Africa region. Sara is an independentnon-executive Board member of Petrofac since 2018, a leadingengineering and services provider in energy internationally. She isthe Chairperson of the Advisory Board of the business school at theAmerican University of Kuwait, a prior member of the Kuwait SupremeCouncil for Planning and Development and a former member of the Boardof Trustees of Kuwait’s Silk Territory project. Sara also serves onthe board of directors of the merchant fund established by ICC. Previously, Sara was a Chief Executive Officer of Kuwait Energy KSC,which she co-founded in 2005 to leverage the opportunity for anindependent oil and gas company in the Middle East, North Africa andEurasia regions. Sarah holds a BSc in Chemical Engineering.
Henry has over 30 years of experience in the oil andgas sector. Henry has a unique and wide blend of technical,operational, business development, strategic planning, and executivemanagement experience. Seed stage startup to multi-billion-dollarcompany leadership, technology development and implementation withemphasis in modeling and Heavy Oil. Currently Henry is with TrindadeReservoir Services Inc. where he is part of the executive teamdeveloping a new clean energy from oil process, combining EOR andgeothermal process in mature fields to increase recovery and creatingnet zero electricity with no CO2 emissions. Henry is COO and VP ofOperations for Quantum Reservoir Impact in Houston (QRI) where QRIbrings value creation to its clients through the development of AI& Machine Learning driven technologies. Previously Henry was theCOO & MD for Oryx Petroleum Services and Addax Petroleum Servicesfrom 2007-2015 where he was responsible for the exploration todevelopment and operations of several fields in Iraq, Nigeria, and theRepublic of the Congo. Henry started his career with Chevron from 1990in Bakersfield, California working on heavy oilfields which led himwith Chevron to Nigeria, Angola, Kuwait, Bahrain, Saudi Arabia, SouthAmerica and numerous other countries worldwide. Henry holds a MSc andBSc in Geological Sciences.
Mr. Richard Wadsworth, Sonoro Chairman commented “Wewelcome Sara and Henry to Sonoro and believe that with theirbackgrounds and experience in the MENA region, internationally and inheavy oil, along with our strategy of building a low risk base in WCSBand now having our first Farm-in completed, that this positions theCompany to strongly pursue transformational opportunitiesinternationally where we collectively have knowledge, experience andsuccess.”
The Company also announces that Bill Marpe has resignedfrom the Board of Directors, however, will continue to provideadvisory services to the Company as it pursues internationalopportunities. The Company thanks Bill for his services and support aspart of management team in Indonesia and on the Board of Directors forthe past eight years.
Further to the Company news release on June 14, 2023,the Company is pleased to report that it has received the release fromthe debt security holder of the partner company on June 15, 2023 for the Farm-In Agreement in the WesternCanadian Sedimentary Basin, thus removing this conditionprecedent.
Forward-lookingStatements
Certain information in this news release constitutesforward-looking statements under applicable securities laws. Anystatements that are contained in this news release that are notstatements of historical fact may be deemed to be forward-lookingstatements. Forward-looking statements are often identified by termssuch as "may," "should," "anticipate,""expects," "estimates," "seeks" andsimilar expressions. In particular, without limiting the generality ofthe foregoing, this news release contains forward-looking informationregarding the opportunities discussed.
Forward-looking statements necessarily involve knownand unknown risks, including, without limitation, risks associatedwith oil and gas exploration, development, exploitation, production,marketing and transportation, loss of markets, volatility of commodityprices, currency fluctuations, imprecision of reserve estimates,environmental risks, competition from other producers, inability toretain drilling rigs and other services, delays resulting from orinability to obtain required regulatory approvals, changes inlegislation including but not limited to income tax, environmentallaws and regulatory matters, and ability to access sufficient capitalfrom internal and external sources. Readers are cautioned that theforegoing list of factors is not exhaustive.
Readers are cautioned not to place undue reliance onforward-looking statements as there can be no assurance that theplans, intentions or expectations upon which they are placed willoccur. Such information, although considered reasonable by managementat the time of preparation, may prove to be incorrect and actualresults may differ materially from those anticipated. Forward-lookingstatements contained in this news release are expressly qualified bythis cautionary statement.
Additional information on these and other factors thatcould affect Sonoro's operations or financial results are included inSonoro’s reports on file with Canadian securities regulatoryauthorities and may be accessed through the SEDAR website(www.sedar.com) or by contacting Sonoro. The forward-lookingstatements contained in this news release are made as of the date ofthis news release and Sonoro does not undertake any obligation toupdate publicly or to revise any of the included forward-lookingstatements, whether as a result of new information, future events orotherwise, except as expressly required by securities law.
Neither the TSXVenture Exchange nor its Regulation Service Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of thisrelease .
For further information to participate in futurefinancing, please contact the company at:
Sonoro Energy Ltd.
or
+1.403.262.3252
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