(TheNewswire)
May 1, 2018 / TheNewswire / Calgary, Alberta –Sonoro Energy
Ltd. (“Sonoro” or the “Company”) (TSXV: SNV) hereby announces, that it has been in discussions with the
Indonesian Ministry of Energy and SKKMIGAS, the government energy regulator, to obtain the extension to the Budong Budong License
which was unexpectedly terminated in February 2018 after the Company had fully fulfilled its commitments. Through these
discussions, the Company has now formally submitted a new request to SKKMIGAS to seek a further extension from the Ministry of
Energy. SKKMIGAS has stated that they will present and support this request to the Ministry of Energy which is currently in
progress. The Minister of Energy will provide their response thereafter. It is emphasized t
here can be no guarantee that the Minister of Energy will provide their consent.
The Company has granted 3,500,000 stock options to Directors, Management, employees and consultants exercisable
at $0.055 per share over a 5 year term in accordance with the company stock option plan. The terms and conditions of the
grant are subject to the approval of the TSX Venture Exchange.
Forward-looking Statements
Certain information in this news release constitutes forward-looking statements under applicable securities
laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be
forward-looking statements. Forward-looking statements are often identified by terms such as "may," "should," "anticipate,"
"expects," "estimates," "seeks" and similar expressions. In particular, without limiting the generality of the foregoing, this news
release contains forward-looking information regarding the PSC.
Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks
associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets,
volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from
other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required
regulatory approvals, changes in legislation including but not limited to income tax, environmental laws and regulatory matters,
and ability to access sufficient capital from internal and external sources. Readers are cautioned that the foregoing list of
factors is not exhaustive.
Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance
that the plans, intentions or expectations upon which they are placed will occur. 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 news release are expressly qualified by this cautionary
statement.
Additional information on these and other factors that could affect Sonoro's operations or financial results
are included in Sonoro’s reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR
website (www.sedar.com) or by contacting Sonoro. The forward looking statements contained in this news release are made as of the
date of this news release and Sonoro 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 .
This press release is not to be disseminated in the United States
For further information please contact:
Sonoro Energy Ltd.
+1.403.262.3252
www.sonoroenergy.com
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