SNV Doc. My apologies, I had to change the name *Dickter because SH would't allow it.
Cheers
September 13, 2012
Investor Relations Update for Sonoro Energy Ltd. (SNV:TSX-V) Shareholders
Prior to our Executive, Richard Wadsworth and Dickter Avest's presentation to the FirstEnergy Global Energy Conference in London, UK on September 17-18, 2012, Sonoro is pleased to provide you with an updated Investor Fact Sheet.
To access a copy of the Sonoro Fact Sheet, please Click Here
Sonoro Strategy
· Shareholder exposure to significant upside
· Focus on low technical risk, large unconventional resources, proven basin
· Early production and cash flow
· Leverage technical knowledge, relationships to execute with strong international and local team
Highlights
· First Mover Advantage in Iraq – similar to Kurdistan in 2004
· Pure play on Iraq
· 141 million barrels first target
· 32 additional targets identified
· Team in place to execute
· Drilling rig purchased and ready for transport
Large Resources Proven Basin — Low Risk
· Prospective Resource is more than 5 billion barrels; approximately 50% asphalt (heavy oil)
· North Salah ad Din prospect: 1.2 billion barrels resource in place;
· 141 million barrels recoverable resource
· Jeribe formation prolific throughout the area
Keys to Success
1. Initial 3 hole drill program fully funded
2. Management with successful track record in international oilfield development
3. Initial multi-billion barrel target identified (1st of 33)
4. New 750 hp drill rig purchased and owned by the Company
5. Final permits submitted, waiting on approval to commence civil works and mobilize drilling rig
6. Results expected before year end
Salah ad Din, Republic of Iraq, Asphalt License
Attractive Licence Terms — Sonoro Operator (40% WI)
· License with Province approved by the Ministry of Industry and Minerals
· Exclusive rights to exploration and development of asphalt (heavy oil) for entire Province (24,363 km2)
· Revenue sharing between Province and Sonoro Consortium
· Licensee receives net take of 50%, with 80% of the revenues available for cost recovery
· Minimum initial investment commitment of US$1.5 million and a 1,000 barrel per day topping facility
· Rights to sell products domestically and for export purposes
· 5 year exclusive exploration period with 30 year production period
· Preferential rights if conventional oilfield discovered
| Example Single Integrated Field |
| Prospective OOIP Size |
1.2 bn bbls |
| Prospective Recoverable |
140 mm bbls |
| Potential number of wells |
300 |
| Risked Project Capex |
$105 mm |
| Peak Production |
25,000 bopd |
| Expected Opex incl topping facilty |
$7 per bbl |
| Expected Capex (incl facility) |
$5 per bbl |
| NPV10 (AT) to Sonoro (WI 40%) |
~$590 mm |
| ROR (AT) |
93% |
| Project NPV10 / bbl |
$21 |
About Sonoro
Sonoro is an international oil exploration and development company. Our current focus is on asphalt (heavy oil) resource exploration and development in Iraq. Sonoro has initiated the evaluation of resource opportunities under our asphalt license agreement in the Salah ad Din Province.
Sonoro plans to drill exploration wells in the North Salah ad Din ("NSD") and Sherqad ("SHQ") prospects in the Salah ad Din Province in the Republic of Iraq. An initial development program to develop NSD and SHQ and a further exploration program, including extensive sub-surface data acquisition, in the Salah ad Din Province have been developed and are planned to be executed following the above exploration drilling program.
For further information please contact:
RAY IRVINE
Investor Relations
+1.403.608.3402
email: Ray.Irvine@sonoroenergy.com
www.sonoroenergy.com