First Junior Oil & Gas Company into Iraq
Sonoro holds exclusive asphalt (heavy oil) exploration rights to the entire Salah ad Din Province
Sonoro is an international oil exploration and development company. Our current focus is asphalt (heavy oil) resource exploration and development in Iraq. We have initiated the evaluation of resource opportunities within our recently signed asphalt (heavy oil) exploration license agreement in the Salah ad Din Province.
Sonoro’s team encompasses a unique combination of previous international asphalt (heavy oil) success, strong relationships and regional influence. In October 2010, Sonoro signed an agreement with the Salah ad Din Governorate in Iraq, which granted the Company exclusive rights for exploration, development and production of asphalt and related organics asphalt (heavy oil) to an area covering over 24,000 square kilometres.
In February 2011, the Company announced the findings of an independent prospective oil resource evaluation report prepared by RPS Energy Canada Ltd., which estimated P50 risked recoverable resources of 5.2 billion barrels within the Company's license area, with approximately 50% of those resources being asphalt (heavy oil) resources covered by the License Agreement.
In July 2011, the Company announced the findings of an independent contingent oil resource evaluation report prepared by RPS, which estimated P50 recoverable asphalt (heavy oil) resources of 141 million barrels, specific only to the Company’s initial prospect at North Salah ad Din.
Within Sonoro’s exclusive exploration license, which is on trend with major oilfields, we expect to discover and develop multiple asphalt (heavy oil) resource projects.