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Sonoro Energy Ltd.
Sonoro Energy Ltd.
Registriert in: Kanada WKN: A2JSGB Rohstoffe:
Art: Originalaktie ISIN: CA83569D6054 Rohöl
Erdgas
Heimatbörse: TSX Venture Alternativ: SNVFF
Währung: CAD    
Symbol: SNV.V Forum:

Sonoro Energy Ltd. provides update on Saskatchewan operations and development opportunities in MENA.

05.02.2024 | 23:45 Uhr | The Newswire

This press release is not to be disseminated in the United States

February 5 - - Calgary, Alberta - Sonoro Energy Ltd. ("Sonoro" or the "Company") (TSXV:SNV) hereby provides an update on the recently completed initialized production of the 14-29-32-23 W3 well in the WCSB. Since commencement of production, the well has exhibited CHOPs, Cold Heavy Oil Production with sand, producing foamy oil with greater than 10% sand cuts and high initial gas pressures. The oil density was tested as 10.33 API and viscosity at 30C of 12,596 which further confirms a positive window for oil sand production and wormhole creation from the slotted liners. Upon completing the well in January, Saskatchewan encountered extreme cold weather conditions (reaching -55c at the wellsite) which created a back log of flushby's and coil services work that the well required to manage sand production. On several occasions the issue was rectified but without quick response services this eventually resulted in an expected blown drain and the well requiring a service rig. Sonoro's expectation for optimal productivity of this well remains unchanged once the sand cuts reduce, wormholes have been created and the well has cleaned up.

The Company has ordered a service rig for required clean-up operations. This operation has been slightly delayed due to the backup of rig availability as a result of warm weather that created short-term road bans/closures in Saskatchewan. Sonoro expects that the well will be serviced and placed back on production within the next week. In addition, Sonoro is making additional improvements with a recycle injection string to ensure continuous flow and velocity to produce oil and sand to surface in an optimum manner.

Sonoro will continue to evaluate this well as it is produced and make design changes to the next multi-lateral well to further optimize the drilling and completion of the next well. A Joint Technical Committee has been formed with the Farmor to commence planning and for the coordinated exploitation of the Farm-In land base for the next multi-lateral lined horizontal well.

In matters regarding our previously stated evaluation of opportunities in in the Middle East and North Africa region, the Company has continued meetings in the region and are in discussions with various parties to advance these select opportunities with no guarantees that these will or will not be concluded.

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 resource and 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, the effectiveness of the technology to be employed by the Company, the Company's ability to spud each well in accordance with the Farmin Agreement and its 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:

On behalf of the Board of Directors

of Sonoro Energy Ltd.

Dean Callaway, CFO and Director

info@sonoroenergy.com

+1.403.262.3252

Copyright (c) 2024 TheNewswire - All rights reserved.

 
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