SNV:CC - Sonoro Energy Ltd. Responds to Proposed Property Divestiture
(TheNewswire)
May 31, 2024, Calgary,Alberta – TheNewswire– Sonoro Energy Ltd. ("Sonoro" orthe "Company") (TSXV:SNV) announcesthat the Company is aware of the proposed sale by its farmin partnerSuperb Operating Company Ltd. (“ Superb ”) of certainoil interests located in Saskatchewan.
Further to its news release dated October 30, 2023, theCompany and Superb are parties to a farmin agreement, as reinstatedand amended (the “ Agreement ”), pursuant to which Sonoro hasearned and may continue to earn a 70% interest in certain propertieslocated within Saskatchewan’s Western Canadian SedimentaryBasin.
Sonoro is in the process of assessing the proposeddivestiture and will pursue continued compliance with the terms of theAgreement. The Company will provide updates as and when warranted.
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 Company’s pursuant to compliance with theAgreement.
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 Agreement and its ability to access sufficientcapital from internal and external sources. Readers are cautioned thatthe 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.sedarplus.ca) 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 Boardof 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
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