05:23:49 EDT Tue 30 Apr 2024
Enter Symbol
or Name
USA
CA



Sonoro Energy Ltd (4)
Symbol SNV
Shares Issued 198,254,076
Close 2024-01-04 C$ 0.18
Market Cap C$ 35,685,734
Recent Sedar Documents

Sonoro Energy begins completing 14-29 well in Sask.

2024-01-04 11:06 ET - News Release

Mr. Dean Callaway reports

SONORO ENERGY LTD. COMMENCES COMPLETION OPERATIONS IN SASKATCHEWAN AND CLOSES FULL EXERCISE OF WARRANTS

Sonoro Energy Ltd. has commenced final lease and facilities construction toward achieving oil production at its recently drilled 14-29-32-23 W3 well. Sonoro has acquired all related surface and downhole equipment required to complete and place the well on production. Surface facility and lease access construction has commenced and the service rig is scheduled for the week of Jan. 9, 2023, at which time the downhole pump, tubing and rods will be installed to facilitate oil sales. Initial oil production rates are expected to continually improve as the well cleans up as the sand cuts decline. This is standard for cold heavy oil production (CHOP) strategy, with sand production being deployed. Personnel and services have been secured to effectively optimize the well in accordance to industry-leading CHOP operations.

Sonoro also announces that, further to its Dec. 12, 2023, news release, the company successfully completed the acceleration of all 33,333,331 five-cent common share purchase warrants issued pursuant to its May, 2023, private placement of units. Sonoro had the right to accelerate the expiry date of the warrants in the event that the price of Sonoro's common shares equalled or exceeded 10 cents per share for 10 trading days. Sonoro announced that the acceleration event occurred and the expiry date of the warrants was accelerated to Jan. 2, 2024, being 20 days after the date of the notice. Total proceeds from the warrants totalled $1,666,667.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.