SNV - Sonoro Energy Provides Update on Saskatchewan Farm-In
(TheNewswire)
Calgary, Alberta - TheNewswire - July 28, 2023 - Sonoro Energy Ltd. (“ Sonoro ” or the “ Company ”) (TSXV:SNV.H) is pleased to update shareholders on progress relating thepreviously announced Western Canadian Sedimentary Basin (“WCSB”)Farm-In Agreement (the “Agreement”).
Sonoro has provided notice to it’s Farmee partnerthat it has elected to drill the first well under the Farmin LetterAgreement in Saskatchewan. Such election notice satisfies the electiondate provisions within the Farmin Agreement.
Sonoro’s newly created Canadian subsidiary, SonoroEnergy Canada Ltd., (“Sonoro Canada”), has been approved by theSaskatchewan Ministry of Energy and Resources (“MER”) to conductoperations in the Province of Saskatchewan. In addition to thisapproval, Sonoro has also finalized the selection of its first threedrilling locations (of the initial 5 well commitment and carry) andhas secured the services to survey, acquire surface access, and obtaindrilling permit for the first well location. Sonoro has also securedthe necessary services required to proceed in the contracting ofdrilling and completion services for the well with an expected spuddate in later half of September 2023 which will satisfy the September30, 2023 spud date commitment of its first well.
Sonoro will provide further updates as it progressesits drilling program.
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 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:
Sonoro Energy Ltd.
or
+1.403.262.3252
This press releaseis not to be disseminated in the United States
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