(TheNewswire)
Calgary, Alberta / TheNewswire / January 11 2017 - Sonoro Energy Ltd.
(“Sonoro” or “the Company”) (TSX-V: SNV) is pleased to report that its subsidiary, Stockbridge Oil and
Gas Ltd., has received formal notification of a one year extension to the expiry of its Budong Budong License from the Indonesian
Government authority SKKMIGAS and MIGAS. The Budong Budong License is now valid to January 15, 2018 with the drilling of one well
during 2017.
Mr. Wadsworth, Chief Executive Officer commented “We are pleased that SKKMIGAS and MIGAS have recognized the efforts that
Stockbridge Oil and Gas Ltd. has undertaken over the past year to prepare and plan for the appraisal drilling of one to two wells
on the Budong Budong License culminating in this one year extension. The Company expects this will allow the Company to complete
its planning, permitting, financing and the drilling of the appraisal of the LG-1 updip on a timely basis during
2017”.
About Sonoro
Sonoro is an international oil and gas resource exploration and development company with a focus on SE Asia and
its onshore Budong Budong Production Sharing Contract in Sulawesi Indonesia. The Company has commenced planning for a one to
two well appraisal drilling program on the LG oil and gas prospect.
Forward-looking Statements
This press release contains forward-looking statements within the meaning of Canadian securities laws. These
forward-looking statements contain statements of intent, belief or current expectations of the Company. Forward looking information
is often, but not always identified by the use of words such as "anticipate", "believe", "expect", "plan", "intend", "forecast",
"target", "project", "may", "will", "should", "could", "estimate", "predict" or similar words suggesting future outcomes or
language suggesting an outlook.
The forward-looking statements included in this press release, include without limitation, statements
regarding work of the Integrated Project Management team, the drilling program including the number of appraisal wells and
associated timing, drilling rig contractors, other drilling services, submissions of drilling and land permitting applications to
the Indonesian federal and local governments, commissioning of an environmental assessment and report and corporate social
responsibility plan, the independent resource evaluation for the Budong Budong PSC, development plans and production.
Forward-looking statements necessarily involve known and unknown risks and uncertainties, including, without
limitation, the impact of general economic conditions, the risks and liabilities inherent in oil and natural gas exploration and
operations; marketing and transportation; loss of markets; volatility of commodity prices; currency and interest rate fluctuations;
environmental risks; competition; incorrect assessment of the value of acquisitions; failure to realize the anticipated benefits of
acquisitions; inability to access sufficient capital; changes in legislation, including but not limited to income tax,
environmental laws and regulatory matters, including changes in how they are interpreted and enforced; geological,
technical and drilling problems; and obtaining required approvals of regulatory authorities.
Readers are cautioned that the foregoing list of factors is not exhaustive. The Company's actual
results, performance or achievement could differ materially from those expressed in, or implied by, such forward-looking statements
and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or
occur or, if any of them do, what benefits that the Company will derive from them. Such information, although considered reasonable
by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those
anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary
statement.
The forward looking statements contained in this press release are made as of the date of this press release,
and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements,
whether as a result of new information, future events or otherwise, except as expressly required by securities
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.
For further information please contact:
RICHARD WADSWORTH
CEO and Director
+1.403.262.3252
www.sonoroenergy.com
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