TSX Venture Exchange Symbol: SNV
CALGARY, May 16, 2014 /CNW/ - Sonoro Energy Ltd. ("Sonoro" or "the
Company") (TSX-V: SNV) announces that Mr. Darren Moulds has been
appointed Interim Chief Financial Officer of the Company effective
immediately.
Mr. Moulds is a senior financial professional with extensive experience
in the international oil and gas sector. His past endeavors include
holding CFO and officer level positions with junior international oil
and gas companies and six years with PricewaterhouseCoopers LLP.
During his previous experience, he has been involved in various
projects in the middle east, including Kurdistan Iraq, which will
complement the efforts of Sonoro.
About Sonoro
Sonoro is an international unconventional resource exploration and
development company. Our current focus is a pure play on
bitumen/asphalt resource exploration and development in Iraq. Sonoro
continues the evaluation of resource opportunities in Iraq and under
our asphalt license agreement in the Salah ad Din Province while the
company pursues final Federal approvals.
Forward-Looking Information
Certain statements in this news release may constitute "forward-looking
information" ("forward-looking statements") within the meaning of
applicable Canadian securities laws. Certain statements in this news
release may constitute "forward-looking information" ("forward-looking
statements") within the meaning of applicable Canadian securities laws.
Forward-looking statements are often, but not always, identified by the
use of words such as "anticipate", "estimate", "potential", "could",
"ongoing", "prospective", "expected" and similar words suggesting
future outcomes. Specific forward-looking statements in this press
release include but are not limited to comments related to the
likelihood of obtaining requisite approvals and licenses to pursue the
development of bitumen/asphalt resources in Iraq, plans to commence
certain investigations and operations, and the expected impact of the
Company's participation in the mission to Iraq on its efforts to obtain
a federally approved license. By their nature, forward-looking
statements are based on current expectations regarding future events
that involve a number of assumptions, known and unknown risks, and
uncertainties. Actual results, performance or achievements of Sonoro,
or the industry, may vary materially from what is expressed or implied
by such forward-looking statements.
These forward-looking statements are not guarantees of our future
performance and are subject to risks, uncertainties and other important
factors that could cause our actual performance to be materially
different from what we project. These risks and uncertainties include,
but are not limited to: (1) risks associated with obtaining,
maintaining and the timing of receipt of regulatory approvals, permits,
and licenses; (2) uncertainties related to financing of Sonoro's
exploration activities and continued operations through access to
capital markets; (3) the risk of volatile global economic conditions;
(4) continued political stability; (5) continued support from the local
communities, (6) operational risks in development, exploration and
production delays or changes in plans with respect to exploration or
development projects or capital expenditures; (7) the uncertainty of
resource estimates, geological interpretations, estimates and
projections in relation to production, costs and expenses, and health,
safety and environmental risks; (8) the continued ability to obtain
qualified staff and equipment in a timely and cost efficient manner;
(9) the risk of commodity price and foreign exchange rate fluctuations;
and (10) risks associated with the implementation of new technology.
Given these uncertainties, you should not rely on forward-looking
statements. These forward-looking statements also represent our
estimates and assumptions only as of the date that they initially were
made. We expressly disclaim a duty to provide updates to any
forward-looking statements, and the estimates and assumptions
associated with them, to reflect events or circumstances or changes in
expectations or the occurrence of anticipated events after the date
they initially were made, except and to the extent required by
applicable law.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Sonoro Energy Ltd.
