(via TheNewswire)
CALGARY, Canada / TheNewswire / Nov. 14, 2017 -- Sonoro Energy Ltd. ("Sonoro" or "the Company") (TSX-V: SNV is pleased to provide an update to drilling operations at its LG-1 Up-dip well, with drill stem testing ("Testing") having commenced on the Budong Budong Production Sharing Contract in West Sulawesi, Indonesia.
Following successful logging of the open hole section from 297m to 549mKB, the Company has identified prospective oil and gas zones for further Testing to determine indicative potential flow rates and reservoir conditions.
The Testing intervals have been further approved by SKKMIGAS, the Indonesian government regulator. This Testing programme has been specifically designed to meet data gathering requirements to support a potential plan of development to the government should results warrant it. The intervals currently being tested are between:
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- 474m to 495.5mKB;
- 375m to 401mKB; and
- 333m to 353mKB.
Note that as there are several stacked sand layers in between claystone, these intervals do not reflect an actual net sand pay but the areas over which the Testing packers are expected to be set.
The commencement of Testing should not be interpreted to mean that commercial rates may be achieved. Final test results of oil and gas productivity, if any, are required to help the Company in assessing commerciality of the project.
Further details and results will be provided once testing and analysis are complete.
About Sonoro
Sonoro is an international oil and gas resource exploration and development company with a focus on Southeast Asia and its onshore Budong Budong production sharing contract in Sulawesi Indonesia. The Company has drilled to total depth for the LG-1 Up-dip appraisal well drilling program on the Budong Budong license offsetting the original LG-1 well. For further information please contact:
RICHARD WADSWORTH
CEO and Director
+1.403.262.3252
www.sonoroenergy.com
Forward-looking Statements. Certain information in this press release constitute forward-looking statements under applicable securities law. Any statements that are contained in this press 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 press release contains forward-looking information regarding the pursuit of new opportunities in the region of the Budong Budong black.
Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated 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, interpretation of drilling, coring, logging and well testing results, 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.
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