Sonoro Energy Ltd. V.SNV

MOU

[MJB4231]

Let's get this MOU signed ASAP. Investors confidence won't change until then and details clearly provided regarding partnership and business plan and today's trading verified this by small volume and SP move. Time to prove we have something other then a shell company. Show us the money Richard

[RoyMax123]

The MOU is already signed, what we need is the definitive agreement  executed/signed,

[copperplay]

Is it possible for Richard to go from zero to hero?? follow the money 

[MehmetPasha]

Market at the open says ... no 

[ark88]

I think the agreement will come sooner than expected. Back in late 2023, Dean alluded to the slow pace of approvals dealing with a national oil company. We now know the agreement to be completed is not with the national oil company. Sonoro is not seeking a direct contractual relationship with the national oil company. However, MENAco does and because we are seeking to be part of MENAco, the

[ark88]

Should've added this to the post...... Dean implied that the "hold up" was with the national oil company. This MOU suggests that the national oil company has now given their consent paving the way for the MOU. The Agreement with MENAco is really just an exchange of shares which should be wrapped up quickly. Hence the comment completion in Q2 2024.

[RoyMax123]

I doubt that we'll see all the details of the final agreement considering the fact that we don't know much of the details in Sask.

[ark88]

I agree. It's natural and consistent. Who here thinks Sara is involved in MENAco?

[SlyFox1]

Why does everyone think Sara is so involved? what am I missing. She is just a BOD member 

[MJB4231]

Jmo but if she's not directly involved then I would say her contacts would be a huge value in putting this together incl Wads contacts. That would be a great thing to be added in a NR as a mention if she was involved. We don't even know which country we are dealing with yet

[thorgb1]

I assume all SNV insiders are involved in MENAco......question is why was it spun out and why was the contract not awarded to Sonoro directly? Why isn't MENAco a local operating company, 100% or majority owned by Sonoro shareholders?

[ark88]

You're reading the news wrong. - MENAco is an existing company in the UAE - There is no mention of SNV insiders being part of MENAco - MENAco is a "local" company as in located in UAE - MENAco has the 5 year services contract, not SNV  

[teetznazz]

  What's everyone's take on this part of the news release? After giving effect to the Proposed Transaction, it is expected that the MENACo shareholders will collectively hold 15.2% of the issued and outstanding Sonoro Shares. The Company does not expect any new insiders to be created as a result of the Proposed Transaction.   Is this because no new shareholders of MenaCo

[copperplay]

Excellent post teetznazz i think this company MenaCo and getting SNV stock at 12 cents will drastically change the value as they too will have a vested interest to see the stock go up and sell out for big profit  They may have investors ready to buy as soon as exchange approves the transaction  my opinion of course.  Like I keep saying if stock starts to run all good if it stays

[RoyMax123]

I presume most of your questions (but probably not all) will be answer if / when they  close the deal,  From the NR "Sonoro will announce additional details regarding the Proposed Transaction when a Definitive Agreement is executed"

[SlyFox1]

Hopefully they can start by telling the market which of the 20+ MENA region countries they will be operating in 

[RoyMax123]

Ok, here something to dream about (but it's probably just a dream) teetznazz maybe into something poiting out the following quote from the NR "The Company does not expect any new insiders to be created as a result of the Proposed Transaction." Sara is already Insider of sonoro and guess what she's also CEO of Oilserv who according to this website https://pitchbook.com

[teetznazz]

Yes Roy, that was partly what my query was getting at. But it sure would be nice to not have to guess. Maybe for once they need to make buying SNV easy for once. IMHO

[teetznazz]

My last post on this subject before going back to lurking mode. How many here would be adding or buying if we all knew clearly that Sara Akbar's DNA was all over this acquisition? 

[RoyMax123]

I would personally not add because I'm already loaded (Almost 1M for me that's enough), but I would be very happy.    I'm sure that we would see a good buying pressure if that became reality.