June 1, 2017 - 4:00 AM EDT
Print Email Article Font Down Font Up Charts

Sonoro Energy appoints Dr. Winter to Board of Directors, adds Mr. Callaway as CFO

(via TheNewswire)

CALGARY, Alberta / TheNewswire / June 1, 2017 - Sonoro Energy Ltd. ("Sonoro" or "the Company") (TSX-V: SNV) is pleased to announce that Dr. David A. Winter has been appointed to the Company's Board of Directors, and Mr. Dean Callaway has joined Sonoro as its Chief Financial Officer. Both appointments are subject to TSXV approval.

Dr. Winter is currently the CEO of Horizon Petroleum Ltd., a TSXV publicly listed international oil and gas company focused on the development of European gas resources. He has over 33 years of international oil and gas industry experience in Southeast Asia, Latin America, the Middle East, North Africa, and North America. He is also a Co-Founder and Director of Canacol Energy Ltd., a publicly traded oil and gas company listed on both the Toronto and Colombia stock exchanges and a Director of private Miramar Hydrocarbons Ltd. Previously, Dr. Winter was a founder and CEO of Excelsior Energy Ltd a junior oil sands development company which was sold in 2010. Dr. Winter acquired his extensive international oil and gas experience from senior management roles at Calvalley Petroleum, where he was Senior Vice President, Exploration and Production; and at Alberta Energy Company, where he was Vice President, International Exploration. He has also held senior management and technical positions with Canadian Occidental, Sun Oil and BP. David holds Bachelor of Science (Hons), Master of Science and Doctorate degrees in geology. His experience included living and working internationally in China, Indonesia, Australia and the Republic of Yemen.

Mr. Callaway has been involved in the international energy industry for more than 23 years. Over the past 10 years he has been involved with several private and public international oil and gas companies in the role as Chief Financial Officer, including Bukit Energy (Indonesia), Sun God Resources (Mexico), PanAfrican Oil (Namibia, Congo), Gallic Energy (France, Australia), TG World (Philippines, Alaska, Niger) and TIC (Thailand). Prior to changing career paths into the junior international oil and gas sector, Mr. Callaway held senior roles in M&As and corporate planning at Terasen Pipelines; corporate and international finance at Enbridge and TransAlta; and investment banking at Merrill Lynch. Mr. Callaway holds a Bachelor of Commerce degree from Dalhousie University, an International MBA from Nijenrode University in the Netherlands, and a Chartered Professional Accountant designation.

"We are thrilled to have Dr. Winter and Mr. Callaway adding their considerable experience, expertise and guidance to our leadership group at Sonoro," says Richard Wadsworth, Sonoro Energy's CEO.

"We're focused on the successful execution of an appraisal well to offset the original LG-1 discovery well in Indonesia's Budong Budong block this summer, as well as pursuing new opportunities in the region," adds Mr. Wadsworth. "The addition of David and Dean to our team--given their international and Indonesian experience--are a big step toward achieving those goals."

The Company also thanks Mr. Darren Moulds for his past services as Chief Financial Officer and wishes him success in his future endeavors.

In association with this announcement the Company has granted 11,900,000 stock options to Management, employees and consultants exercisable at $0.08 per share over a 5 year term in accordance with the company stock option plan. The terms and conditions of the grant are subject to the approval of the TSX Venture Exchange.

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 commenced planning for a one to two well appraisal drilling program on the Budong Budong license offsetting the LG-1 well. For further information please contact:


CEO and Director



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, 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.

(Not for distribution to U.S. newswire services, or for dissemination in the United States)

Copyright (c) 2017 TheNewswire - All rights reserved.

Source: TheNewsWire (June 1, 2017 - 4:00 AM EDT)

News by QuoteMedia

Legal Notice