Sonoro Energy Ltd. V.SNV

Alternate Symbol(s): SNVFF

Energy Oil & Gas E&P

Sonoro Energy Ltd. is a Canada-based oil and gas company. The Company is focused on oil and gas exploration and production in Canada and abroad, including the Middle East/North Africa (MENA) region. The Company has drilled two wells in Saskatchewan. The Well 11-30-32-23 W3 was a vertical well and the Well 14-29-32-23 W3 was a Waseca formation multi-lateral horizontal well with four horizontal legs for a total lateral length of approximately 1,600 meters. The Company’s subsidiary, Sonoro Energy Canada Ltd.

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Sonoro Energy Ltd. > Corporate Update

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Comment by copperplayon Feb 11, 2022 9:24am

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Post# 34419650

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Corporate Update

copperplay wrote:

ark88 wrote: No, you're not thinking. 25% share of PSC has value, period.
It had little to no value when the JV wasn't doing anything to monetize it.
That doesn't mean that it has no value.
Certainly, SGE thinks it has value as they are trying to steal it from SNV.

At this stage, SGE is a dishonest partner that SNV can't to business with.
So there's no possibility of trying to make the JV work.

The only option at this point is to play hard ball and hang tight and try to be a torn in their side to extract a buyout from SGE for the 25% stake.
Remember, the clock is ticking and now it's start of year 3 of 5 for the commitment of $74 million expenditure.

So the leverage SNV has is the total losss of Selat Panjang for SGE.
The best and possible outcome for SNV is to accept an offer to relinguish the 25% stake.
What do you think that amount should be? $20-25 million?