(TheNewswire)
Calgary, Alberta - TheNewswire -July 28, 2023 - Sonoro Energy Ltd. (“Sonoro” or the “Company”) (TSXV:SNV.H) is pleased to update shareholders on progress relating the previously announced Western Canadian Sedimentary Basin (“WCSB”) Farm-In Agreement (the “Agreement”).
Sonoro has provided notice to it’s Farmee partner that it has elected to drill the first well under the Farmin Letter Agreement in Saskatchewan. Such election notice satisfies the election date provisions within the Farmin Agreement.
Sonoro’s newly created Canadian subsidiary, Sonoro Energy Canada Ltd., (“Sonoro Canada”), has been approved by the Saskatchewan Ministry of Energy and Resources (“MER”) to conduct operations in the Province of Saskatchewan. In addition to this approval, Sonoro has also finalized the selection of its first three drilling locations (of the initial 5 well commitment and carry) and has secured the services to survey, acquire surface access, and obtain drilling permit for the first well location. Sonoro has also secured the necessary services required to proceed in the contracting of drilling and completion services for the well with an expected spud date in later half of September 2023 which will satisfy the September 30, 2023 spud date commitment of its first well.
Sonoro will provide further updates as it progresses its drilling program.
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 opportunities discussed.
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.
For further information to participate in future financing, please contact the company at:
Sonoro Energy Ltd.
info@sonoroenergy.com
or
+1.403.262.3252
This press release is not to be disseminated in the United States
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