SNV:CC - Sonoro Energy Provides Update on Saskatchewan Well
(TheNewswire)
Calgary, Alberta - TheNewswire - December 15,2023 - Sonoro Energy Ltd. (" Sonoro " or the " Company ") (TSXV:SNV) is pleased to announcethat the 14-29-32-23 well has been drilled to the intermediate casingpoint. The well has been drilled 2 meters into the Waseca formationwhich was encountered structurally as expected with abundant oilreturns seen over the shaker. Clean Waseca Sandstone chip sampleswere recovered having a strong fluorescence and oil staining.
Sonoro is now in the process of cementing the intermediate casingafter which the first of four horizontal legs will be drilled into theWaseca sand, drilling to date has been safely conducted on budget andwithin the timeframe scheduled.
While these preliminary indications are positive, the results to datecan not be relied upon for determining if the drilling results aredetermined as successful for economically viable production of thiswell.
The Company will make further announcements as appropriate.
Richard Wadsworth, CEO, commented: "Encounteringthe Waseca sand as expected confirms our 3D seismic interpretation andincreases our confidence in the success of extending the laterals intothe structural high of the formation."
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-looking statements contained in thisnews release are expressly qualified by this cautionarystatement.
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
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