About Sonoro Energy
Sonoro is a Toronto Venture Stock Exchange (“TSXV”) oil and gas publicly traded company (TSXV:SNV) focused on oil and gas exploration and production in South East Asia.
Southeast Asia Focus
On May 7, 2019 Sonoro Energy along with its Indonesian Partner PT Menara Global Energy, an affiliate of a substantial Indonesian company ,was awarded the Selat Panjang PSC in the 2019 Conventional Bid Round in Indonesia . Sonoro has a 25% interest in the project with an option for up to an additional 24%.
The 940 sq km Selat Panjang PSC area is situated in Riau Province , Central Sumatra and is approximately 925 km from Jakarta and 110 km from Pekanbaru (Capital city of Riau Province ). The block has produced oil and gas in prior years, in 2014 the Indonesian Ministry of Energy approved a plan of development for future production however, in 2018, the bloc PSC was terminated by the Indonesian Ministry of Energy and as a result the Plan of Development was not implemented.
Selat Panjang, Central Sumatra
Central Sumatra is Indonesia’s most prolific oil province currently producing more than 35% of Indonesia’s crude oil. This province has produced in total more than 14 billion barrels of oil to date since the 1940s. Just to the west of the block there are several oil fields with current total production of approximatly 17,500 BOPD (peaked at 100,000 BOPD++); and further to the central area the fields operated by Chevron are currently producing approximately 235,000 BOPD (production peaked at more than 600,000 BOPD in 1980s). To the north of the block, several fields are currently producing around 1,750 BOPD after reaching the peak production more than 100,000 BOPD a decade ago. The northern part of the block is bounded by Panjang Strait which has direct access to the Malacca Strait, whereas in the southern part is bordered by Kampar River. Pertamina’s Dumai oil refinery with capacity of 170,000 BOPD is about 150 km away and the 50,000 BOPD’s Sungai Pakning Refinery is 60 km from the block with both being accessible through seaway via Panjang Strait.
In 2014, an Indonesian company and PetroChina had a Plan of Development (“POD”) approved by the Indonesian Ministry of Energy The POD (Pematang) report suggested original oil in place 37.5 MMBO and gas in place of 118.4 BSCF from upper and middle Pematang reservoirs.
Budong, Budong West Sulawesi
In November 2017, Sonoro drilled a well at its Budong, Budong property in West Sulawesi, Indonesia. The Company cased the well after encountering hydrocarbon indications . The Production Sharing Contract (“PSC”) required an extension in early 2018 to continue operations. Due to circumstances beyond Sonoro’s control , the PSC has not been renewed to date. Sonoro continues its discussions with the Ministry of Energy in Indonesia to obtain an extension to the PSC. Sonoro holds a 99.5% interest in the PSC.
Current Corporate Presentation (To be updated)
TSX-V:SNV on Google Finance