SNV:CC - Sonoro Energy Ltd. Operations Update
(TheNewswire)
This press releaseis not to be disseminated in the United States
Calgary, Alberta – TheNewswire – November 20, 2023- Sonoro Energy Ltd. ("Sonoro" or the"Company") (TSXV:SNV) announce s that the 11-30-32-23W3 well was drilled to a depth of 897.5 metersand encountered the edge of the targeted Waseca Channel.
Drilling operations were safely and successfullyconducted on budget and the drilling rig has been released. The welldid encounter oil shows in the Waseca and has been cased with thermalcement pending further review. The Company will evaluate the potentialof a side track with a horizontal well to go up structure to theexpected oil leg after we complete the multilateral horizontalwell.
Sonoro is continuing to prepare for the previouslyannounced multilateral horizontal well, which is approximately 1.5 kmaway from the vertical well and extending a further 500 m laterally.The results from the 11-30 vertical well are independent of theexpectations for the multilateral horizontal well.
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 resource and reserveestimates, environmental risks, competition from other producers,inability to retain drilling rigs and other services, delays resultingfrom or inability to obtain required regulatory approvals, changes inlegislation including but not limited to income tax, environmentallaws and regulatory matters, the effectiveness of the technology to beemployed by the Company, the Company’s ability to spud each well inaccordance with the Farmin Agreement and its ability to accesssufficient capital from internal and external sources. Readers arecautioned that the foregoing 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 includedforward-looking statements, whether as a result of new information,future events or otherwise, except as expressly required by securitieslaw.
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:
On behalf of the Board of Directors
of Sonoro Energy Ltd.
Dean Callaway, CFO and Director
+1.403.262.3252
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