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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Comment by StratCapon Aug 03, 2022 12:25pm

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Post# 34868419

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Predictions

ark88 wrote:

StratCap wrote:

SMlachake wrote: But you do seem to ignore the fact that SNG called the defaulted to the table and handed then an MOU.. would one of the conditions on the MOU not been settling this debt then? So, like Martin, I am curious you keep on digging it up and insisting it's relevance...

So you are assuming the MOU would settle this debt. I dont read that in the press release. Until they update that disclosure, it still is relevant to me as it could represent issuance to settle the debt of at least 16 million shares for the $1.6 million dollar debenture. And if SGE takes that many shares, I see it as a positive as they will be aligned with with shareholders and management.

So to me this still has relevance.

Yes, of course the debt owed to SGE is still relevant, until such time that a JOA or equivalent is executed by both parties. The MOU, as far as we can discern from the Press release, signals re-engagement between the 2 parties, with said conditions. Nothing more and I think that's also how the market see it as well.

SNV is still a 25% owner of the PSC and as such a minority stakeholder. SGE with 75% control everything. We call nothing happens, Thye call we jump.

Even if the RR is complete, without SGE consent, it will not be released.

I'm hopeful that the re-engagement leads to 2 parties seeing eye to eye and that mutual benefit is acknowledged by moving forward. Selat Panjang is a past producing resource with plenty of information available as to the value. The only clarity that the market wants is precisely what the working relationship between the 2 key stakeholders is. This is precisely what has plagued SNV for the last 2+ years.

What we need next is any indication that the relationship between SNV and SGE has been remedied, be it in the form of debt resolution, Board seat assignment, increase in SNV stake and SGE stake in SNV.

The problem here isn't a question of resource or assets of SNV, it's in the relationship with the majority stakeholder that's preventing us from fully exploiting that resource.