(TheNewswire)
CALGARY, Canada / TheNewswire / Nov. 7, 2017 — Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV), hereby provides an update to drilling operations at its LG-1 Up-dip well on the Budong Budong Production Sharing Contract (“PSC”) in West Sulawesi, Indonesia.
Coring operations retrieved 27.4 meters of core from depths of 296.0m to 326.9m (90% core recovery). Operations were subsequently switched over to conventional drilling on Saturday, Nov. 4, and proceeded to a total depth of 549m. Logging operations are now under way.
In the core and drilled section, several thin sands ranging between 0.2 to 1.4 meters estimated, were observed with oil and gas shows. Some of the sands were described by an onsite Sonoro geologist as “fast streaming cuts, visible fair porosity, medium to fair sized grains, poorly cemented and good oil shows.” Subsequent core analysis is being considered to provide more technical information on these sands.
Drilling operations were switched to a conventional 61/8” bit after coring proved to be challenging due to higher required mud weights as a result of overpressures and gas encountered. Conventional drilling proceeded efficiently with good hole conditions to a final depth 549.8m.
Strong oil and gas shows were encountered across various interval from 280.0 to 549.8m, with multiple sands seen interbedded between clay and siltstones. Until logging and drill stem tests (“DSTs”) are undertaken, it is too early to make conclusions.
Logging operations from the well are now underway to provide further information on the sands and oil and gas shows encountered. Should log interpretations be encouraging, Sonoro may then proceed to performing DSTs on specific sands to determine indicative potential rates, pressure and other information.
“The discovery of strong oil and gas shows in the recovered cores, mud, and observed cuttings are strong evidence of a petroleum system being present. Additionally we are seeing better quality reservoir sands in the LG-1 Up-dip versus the previous LG-1 well. Following logging and testing, we will be able to better assess all the available information to determine further prospectivity on this structure and extrapolation to the numerous other targets within the Budong Budong PSC,” said Sonoro’s Chief Executive Officer and Director Richard Wadsworth.
Further details will be provided once the above information is assessed in conjunction with logging and testing results.
About Sonoro
Sonoro is an international oil and gas resource exploration and development company with a focus on Southeast Asia and its onshore Budong Budong production sharing contract in Sulawesi Indonesia. The Company has drilled to total depth for the LG-a Up-dip appraisal well drilling program on the Budong Budong license offsetting the original LG-1 well. For further information please contact:
RICHARD WADSWORTH
CEO and Director
+1.403.262.3252
www.sonoroenergy.com
Forward-looking Statements. Certain information in this press release constitute forward-looking statements under applicable securities law. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may," "should," "anticipate," "expects," "estimates,", "seeks" and similar expressions. In particular, without limiting the generality of the foregoing, this press release contains forward-looking information regarding the pursuit of new opportunities in the region of the Budong Budong black.
Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, interpretation of drilling, coring and well testing results, delays resulting from or inability to obtain required regulatory approvals, changes in legislation including but not limited to income tax, environmental laws and regulatory matters, and ability to access sufficient capital from internal and external sources.
Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Additional information on these and other factors that could affect Sonoro's operations or financial results are included in Sonoro’s reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or by contacting Sonoro. The forward looking statements contained in this news release are made as of the date of this news release, and Sonoro does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.
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