(via Thenewswire.ca)
Calgary, Alberta / TheNewswire / September 12, 2016 - Sonoro Energy Ltd. ("Sonoro" or the "Company") (TSX-V: SNV) announces that it has completed the consolidation of its common shares on a ten for one basis with an effective date of September 12, 2016 further to the Special and Annual General meeting held on June 20, 2016 and Board of Directors approval. The total number of common shares outstanding post consolidation is 57,314,466.
The Company is also pleased to provide a further update that it has engaged an independent resource evaluations firm to provide a report on prospective resources of the Budong Budong project which is expected to be completed this month.
About Sonoro
Sonoro is an international oil and gas resource exploration and development company with a focus on SE Asia and its Budong Budong Production Sharing Contract in Sulawesi Indonesia. The Company has commenced planning for a one to two well appraisal drilling program on the LG oil and gas prospect.
Forward-looking Statements
This press release contains forward-looking statements within the meaning of Canadian securities laws. These forward-looking statements contain statements of intent, belief or current expectations of the Company. Forward looking information is often, but not always identified by the use of words such as "anticipate", "believe", "expect", "plan", "intend", "forecast", "target", "project", "may", "will", "should", "could", "estimate", "predict" or similar words suggesting future outcomes or language suggesting an outlook.
The forward-looking statements included in this press release, include without limitation, statements regarding the drilling program including the number of appraisal wells and associated timing and the independent resource evaluation timing for the Budong Budong project.
Forward-looking statements necessarily involve known and unknown risks and uncertainties, including, without limitation, the impact of general economic conditions, the risks and liabilities inherent in oil and natural gas exploration and operations; marketing and transportation; loss of markets; volatility of commodity prices; currency and interest rate fluctuations; environmental risks; competition; incorrect assessment of the value of acquisitions; failure to realize the anticipated benefits of acquisitions; inability to access sufficient capital; changes in legislation, including but not limited to income tax, environmental laws and regulatory matters, including changes in how they are interpreted and enforced; geological, technical and drilling problems; and obtaining required approvals of regulatory authorities.
Readers are cautioned that the foregoing list of factors is not exhaustive. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, such forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits that the Company will derive from them. 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 press release are expressly qualified by this cautionary statement.
The forward looking statements contained in this press release are made as of the date of this press release, and the Company 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 please contact:
RICHARD WADSWORTH
CEO and Director
+1.403.262.3252
www.sonoroenergy.com
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