SNV:CC - Sonoro Energy Ltd. Provides Update on Saskatchewan Operations
(TheNewswire)
October 16, 2023 – TheNewswire - Calgary, Alberta –Sonoro Energy Ltd. ("Sonoro" or the "Company")(TSXV:SNV) announces that it has agreed to amend certain terms ofits previously announced Farmin Agreement with its farmin partnerSuperb Operating Company, a wholly owned subsidiary of ProtonTechnologies Cananda Ltd. The amendments are intended to allow for amore focused drill program on certain identified lands and to includemulti-lateral horizontal wells, all of which is intended to enhancethe partnership relationship.
The amendments to the Agreement will extend thedeadline for spudding the first vertical well and subsequenthorizontal wells in addition to providing for an improvedcollaboration on the initial and future well programs . Commencement of the drilling isexpected in October 2023, subject to regulatory approvals, rigavailability and completion of definitive documentation.
Sonoro will provide an update and further details onthe entire program, including the revised drilling timetable whencompleted.
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, the completion and execution ofdefinitive documentation relating to the agreed amendments to thefarmin agreement and ability to access sufficient capital frominternal 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:
On behalf of the Board of Directors
of Sonoro Energy Ltd.
Dean Callaway, CFO and Director
+1.403.262.3252
This press releaseis not to be disseminated in the United States
Copyright (c) 2023 TheNewswire - All rights reserved.