Bullboard - Stock Discussion Forum 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... see more

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TSXV:SNV - Post Discussion

Sonoro Energy Ltd. > petromindo.com

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Post by RoyMax123 on May 25, 2022 6:35am

petromindo.com

If you look in the "about us" section you'll see that they are providing "Daily news, rumors and information..."

Since we cannot find that news about SGE nowhere else it is safe to say that it is part of their rumors and information.

So I'm not expecting any news from SNV today on that.

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Comment by SlyFox1 on May 25, 2022 8:16am

I would tend to disagree, management need to come out with something to clear the air in the market. This is either the most material news we have had since acquiring the block or nothing. Management needs to tell the market which one.

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Comment by RoyMax123 on May 25, 2022 8:49am

Yeah but at the same time to me that "article" is not more credible as any pumper spreading rumors on this board and the company never issued a news about them.

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Comment by ark88 on May 25, 2022 10:46am

If this rumour is true, then one thing is clear, it is highly probable that SGE outfoxed Sonoro from the outset. All they had to do was to withhold the reserve report and Sonoro would be unable to obtain financing to meet its obligations. SGE just had to play dead for the 2 year term of the loan and then call the default and voila Selat is all yours. The glimmer of hope that I can forsee is IF ...more

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Comment by ark88 on May 25, 2022 11:02am

Then of course, it comes down to who's lawyers were better, theirs or ours. So much of litigation is not about who is right, but about the value of whats at stake and the value lost thru fighting. Hence so many cases are settled. Every day, Selat is increasing in value and the odds of throwing a few bones to Sonoro to walk away also increases. As I said back when the default notice was ...more

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Comment by copperplay on May 25, 2022 12:08pm

How do you know they retained a lawyer? This was not disclosed as far as I know

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Comment by MJB4231 on May 25, 2022 12:10pm

Isn't Marpe our lawyer?

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Comment by StratCap on May 25, 2022 1:08pm

And Country Manager.

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Comment by copperplay on May 27, 2022 1:25pm

wow Ark88 you posted this 2 days ago and I questioned how you know they engaged lawyers as it was not disclosed before...until today! "Sonoro has attempted to communicate with SGE directly many times, has recently engaged lawyers in Singapore to assist and through SKKMIGAS, the oil and gas regulator in Indonesia. All methods for communicating and discussions have failed."

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Sonoro Energy Ltd.