Sonoro Energy Commences Drilling Preperation for Alberta Well with Proceeds from Twelve Cent Warrant Exercise
(TheNewswire)
This press releaseis not to be disseminated in the United States
April 30, 2025 – TheNewswire - C algary, Alberta – Sonoro EnergyLtd. (“Sonoro” or the “Company”: TSX:Venture: SNV) is pleased to announce that it has commenced drillingpreparations for the Company’s first operated well in SouthernAlberta under the terms of its previously announced Farm-In Agreement(the “Agreement”) with Badlands Resources Ltd.
The project will be funded with proceeds raised via theexercise of the Company’s outstanding twelve ($0.12) cent warrants. Sonoro has approximately 27.5 million 12 cent warrants outstandingfor proceeds of approximately $3.3 million if fully exercised. TheCompany has received sufficient proceeds to drill the well and afurther commitment to complete the well via the exercise of thesewarrants. Such proceeds from the 12 cent warrant exercise currentlytotal approximately $2 million. The Board of Directors and Managementare all participating in the exercise of the said warrants.
Under the Farmin Agreement, Sonoro will earn a 100%participation interest in a 2,240-acre land package by drilling theexploratory well. The acreage encompasses several high-potentialgeological features within the Paleozoic section which have beendelineated and mapped using advanced 3D seismic imaging. The targetedformation lies at depths ranging from approximately 1,100 to 1,300meters which is characteristic of proven production of high-qualityoil in the region.
Also under the Badlands’ Agreement, Sonoro has anoption to earn a 100% participation interest in an additional 3,200acres in the vicinity of the first well by committing to a secondwell. If exercised, the Company’s drilling portfolio will consist ofapproximately 20 prospective features. A successful discovery in thefirst well would materially de-risk this sizable prospect inventory,providing material follow-up potential and positioning Sonoro forsignificant, scalable play assessment holding several million barrelsof oil potential.
This drilling campaign marks Sonoro’s inauguralexploration initiative in Alberta and represents a key step in theCompany’s strategy to build its asset base and unlock value fromunderexplored, high-potential oil-bearing formations in southernAlberta.
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 ability of the parties to negotiate satisfactory termsfor, and to execute, the Definitive Agreement; the satisfaction of allconditions precedent to the completion of the Proposed Transaction,including receipt of TSX Venture Exchange, regulatory and shareholderapprovals; the Company’s ability to continue as a going concern,general business, economic, competitive, political, and socialuncertainties; delay or failure to receive applicable approvals; andthe results of operations.
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 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, please contact the companyat:
On behalf of the Board of Directors
of Sonoro Energy Ltd.
Dean Callaway, CFO and Director
+1.403.262.3252
Copyright (c) 2025 TheNewswire - All rights reserved.
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