Sonoro Energy Ltd. V.SNV

New Press Release - Sonoro Energy Ltd. Enters into MOU to Acquire 20% Interest in a MENA Company

(TheNewswire)June 3, 2024 – TheNewswire - Calgary, Alberta – Sonoro Energy Ltd. ("Sonoro" or the “Company”) (TSXV:SNV) is pleased to announce that it has entered into a non-binding memorandum of understanding (the “MOU”) to acquire, directly or indirectly through a subsidiary, shares representing...read article.

[copperplay]

Every dog has its day now we need these guys to bid SNV back to year high 

[RoyMax123]

They first need to close the transaction, remember what a MOU is worth of ? 

[copperplay]

Another timeline given end of this month so follow the money  stock goes up it's closing stock down well we know the rest 

[SlyFox1]

i think this should move the needle and at least set the floor at 12 

[copperplay]

  all depends who these new people are and if they have deep pockets can drastically change SNV market cap 

[ark88]

I agree. We'll find out in couple of weeks if this deal is real. The deal is great in terms of low capital investment and everaging know how. There's no "cost" to existing SNV shareholders as we get 20% and they get 15%. Even if MENAco is same as SNV, its a wash  transaction meaning the only value here is to the upside for SNV. The one big mystery is which country is the MSA

[ark88]

Richards language in this NR is noticeably different and more restrained. I guess if and when the deal closes we will see numbers associated with this deal, and we may see Richard using the word "Transformative" once again. Richard Wadsworth, Chief Executive Officer of Sonoro commented, “We are excited with Sonoro’s participation in MENACo, establishing a MENA country entry position in

[MJB4231]

Drop the word Richard.... Use it... "TRANSFORMATIONAL" 

[copperplay]

Just like waiting on JOA with Jimmy and SNV price moves to $2.00 same scenario here except this time think it actually happens and this month  The MSA has an initial term of 5 years in respect of existing oil and gas fields currently producing over several hundred thousand barrels of oil per day (”bopd”) and, among other things, 

[copperplay]

  and by the way Selat Panjang had plans for 4000 barrels per day and Sonoro 25% of that so this deal could be mind blowing once all said and done 

[ark88]

Just wait for the name of the "MENAco" to be dropped. It already has a 5 year contract locked up and we get 20% of that with the signing on the dotted line. The "Contract" must be revenue generating just on Well Managment and EPC Services. Then on top of that we supply the know how on the multi laterals. If all of this falls into place, yes it will be Transformative for SNV

[SlyFox1]

Clearly market is waiting for something. Shocked this isn't at least 12-15 right now 

[RoyMax123]

The market is waiting for the real news... not a MOU.

[ark88]

Much better on the alternate boards. 229k total trades Recent Trades - Last 10 of 44 More trades... Time ET Ex Price Change Volume Buyer Seller Markers 12:21:24 D 0.11 0.015 500 7 TD Sec 7 TD Sec E 12:21:24

[copperplay]

This deal transformational and sounds massive today volume is garbage agree with Sly and Roy once agreement gets signed later this month need a 5-10 million volume day to re start this stock 

[SlyFox1]

Very true copper. The thing is, MOU could be executed at anytime now. Who knows what could be left, signatures, small detals... no one really knows. Have to think if the splits are already done and agreed knowing SNV has 20%,  at this point things can't be that big to finalize. If it is as something as small as signatures MOU could be executed tomorrow, something a little bigger, maybe

[teetznazz]

Interesting choice to release this news the first trading day after the warrants expired. Great way to make friends. IMHO.