23:19:45 EDT Mon 30 Jun 2025
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Sonoro Energy Ltd (4)
Symbol SNV
Shares Issued 228,204,935
Close 2025-04-30 C$ 0.105
Market Cap C$ 23,961,518
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Sonoro Energy prepares for drilling at Alberta well

2025-04-30 16:19 ET - News Release

Mr. Dean Callaway reports

SONORO ENERGY COMMENCES DRILLING PREPARATION FOR ALBERTA WELL WITH PROCEEDS FROM TWELVE CENT WARRANT EXERCISE

Sonoro Energy Ltd. has commenced drilling preparations for the company's first operated well in Southern Alberta under the terms of its previously announced farm-in agreement with Badlands Resources Ltd.

The project will be financed with proceeds raised through the exercise of the company's outstanding 12-cent warrants. Sonoro has approximately 27.5 million 12-cent warrants outstanding for proceeds of approximately $3.3-million if fully exercised. The company has received sufficient proceeds to drill the well and a further commitment to complete the well through the exercise of these warrants. Such proceeds from the 12-cent warrant exercise currently total approximately $2-million. The board of directors and management are all participating in the exercise of the said warrants.

Under the farm-in agreement, Sonoro will earn a 100-per-cent participation interest in a 2,240-acre land package by drilling the exploratory well. The acreage encompasses several high-potential geological features within the Paleozoic section, which have been delineated and mapped using advanced 3-D seismic imaging. The targeted formation lies at depths ranging from approximately 1,100 to 1,300 metres, which is characteristic of proven production of high-quality oil in the region.

Also under the Badlands agreement, Sonoro has an option to earn a 100-per-cent participation interest in an additional 3,200 acres in the vicinity of the first well by committing to a second well. If exercised, the company's drilling portfolio will consist of approximately 20 prospective features. A successful discovery in the first well would materially derisk this sizable prospect inventory, providing material follow-up potential and positioning Sonoro for significant, scalable play assessment holding several million barrels of oil potential.

This drilling campaign marks Sonoro's inaugural exploration initiative in Alberta and represents a key step in the company's strategy to build its asset base and unlock value from underexplored, high-potential oil-bearing formations in Southern Alberta.

We seek Safe Harbor.

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