Blox Labs and Sonoro Energy to develop blockchain-based smart contracts ledger for oil and gas industry

CALGARY, Alberta and TORONTO, Ontario (May 16, 2018) -- Sonoro Energy Ltd. (“SNV”) (TSXV: SNV) (Frankfurt: FDZN) (OTC: SNVFF) is pleased to announce that, in partnership with Blox Labs Inc. (“BLOX”) (CSE: BLOX) (Frankfurt: BR1B), BLOX has commenced development of “PetroBLOX”, a Blockchain-based smart contract supply chain management platform for the global oil and gas industry. 

Through the utilization of best in class smart contracts and decentralized application technologies, PetroBLOX will aim to enable and enhance workflow, maximize project management efficiency, and increase the level of transparency in the global Exploration and Production (“E&P”) space.

With applications to both the upstream and downstream verticals of the oil and gas sector, PetroBLOX will endeavor to assist and ease bottlenecks ranging from permitting, planning, procurement, to rig mobilization and de-mobilization, all the way through to end-product commodity trading.

Phase 1 development of PetroBLOX has begun and will include, among other things, refining project scope and modeling itemization, an environmental scan of the E&P industry status quo, PetroBLOX branding, and the completion of a Blockchain Whitepaper.

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Sonoro Energy provides update on operations

CALGARY, Canada (May 1, 2018)--Sonoro Energy Ltd. (“Sonoro” or the “Company”) (TSXV: SNV) hereby announces that it has been in discussions with the Indonesian Ministry of Energy and SKKMIGAS, the government energy regulator, to obtain the extension to the Budong Budong License which was unexpectedly terminated in February 2018 after the Company had fully fulfilled its commitments.

Through these discussions, the Company has now formally submitted a new request to SKKMIGAS to seek a further extension from the Ministry of Energy. SKKMIGAS has stated that they will present and support this request to the Ministry of Energy which is currently in progress.

The Minister of Energy will provide their response thereafter. It is emphasized there can be no guarantee that the Minister of Energy will provide their consent.

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Sonoro announces closing of private placement and update on operations

CALGARY, Canada (March 26, 2018)--Sonoro Energy Ltd. (“Sonoro” or the “Company”) (TSXV: SNV) is pleased to announce the closing of a non-brokered private placement for total gross proceeds of $1,451,602.

The Company sold 29,032,039 units (a “Unit”) at a price of $0.05 per Unit where each Unit consists of one common share (a “Common Share”) of the Company and one common share purchase warrant (a “Warrant”) of the Company, where each whole Warrant entitles the holder to purchase one Common Share within two years at a price of $0.10 per Common Share. Proceeds will be used for general corporate purposes and pursuit of new business opportunities.

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Sonoro announces closing of first tranche of non-brokered private placement

CALGARY, Alberta (March 9, 2018) -– Sonoro Energy Ltd. (“Sonoro” or the “Company”) (TSXV: SNV) is pleased to announce the closing of a first tranche (the “First Tranche”) of a non-brokered private placement for total gross proceeds of $1,764,602, further to its February 21, 2018 private placement offering (“the Offering”) news release.

Pursuant to the First Tranche, the Company sold 17,646,020 units (a “Unit”) at a price of $0.10 per Unit where each Unit consists of one common share (a “Common Share”) of the Company and one half of one common share purchase warrant (a “Warrant”) of the Company, where each whole Warrant entitles the holder to purchase one Common Share within two years at a price of $0.20 per Common Share.

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Sonoro announces amended terms to private placement offering

CALGARY, Alberta (February 21, 2018)-–Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV) announces that due to market conditions, it has amended the terms to its Private Placement previously announced on January 26, 2018.

The Company intends to raise up to $5,000,000 by way of a non-brokered private placement (the “Offering”) of units, where a unit (a “Unit”) consists of one common share (a “Common Share”) of the Company and one half of one common share purchase warrant (a “Warrant”) of the Company.

The Unit will be priced at $0.10 per share which represents a 9% discount from the closing price on February 20, 2018. Each whole Warrant entitles the holder to purchase one Common Share within two years from the Closing Date (as hereinafter defined) of the Offering at a price of $0.20 per Common Share.

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Sonoro announces private placement offering to fund further activities at Budong Budong

CALGARY, Canada (January 26, 2018)—Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV) announces that it intends to raise up to $4,500,000  by way of a non-brokered private placement (the “Offering”) of units, where a unit (a “Unit”) consists of one common share (a “Common Share”) of the Company and one half of one common share purchase warrant (a “Warrant”) of the Company.

The Unit will be priced at $0.13 per share which represents a 23.5% discount from the closing price on January 24, 5018. Each whole Warrant entitles the holder to purchase one Common Share within two years from the Closing Date (as hereinafter defined) of the Offering at a price of $0.20 per Common Share.

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Sonoro confirms results with government regulator and completion of consolidation of Common Shares

CALGARY, Canada (January 12, 2018)—Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV) is pleased to announce that following the LG-1 Updip well being cased and cemented, the Company fully demobilized the drilling rig and associated equipment and services. The Company is now undertaking further well analysis of the well results in line with standard industry practices.

The preliminary conclusions are as follows:

  • The four way dip closure of the LG structure is sealed by a claystone/shale interval which is at least 200m thick (evident from overpressure seen below the seal throughout the drilling and testing of the well);
  • The reservoir intervals comprise interbedded packages of sandstones deposited by turbidite currents in a deepwater environmental setting;
  • Initial analysis indicates that the sandstones are clearly porous and largely unconsolidated;
  • Petrophysical analysis, conventional core and cuttings data indicate a 200m interval of interest in the well of which 79m are sandstones with reservoir quality (> 30% log porosity).  The aim of the Drill Stem Test (“DST”) program was to accurately determine how much of this 79m of potential reservoir would actually flow hydrocarbons as most are too thin individually to calculate as pay using the resistivity log;

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Sonoro confirms presence of oil and gas in LG-1 Up-dip well

CALGARY, Canada (Nov. 23, 2017)—Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV) has cased its LG-1 Up-dip well in West Sulawesi, Indonesia with 4.5” casing and cemented it in place to a depth of 546 metres KB (below the “kelly bushing”), following conventional coring, logging and open-hole drill stem testing (“DST”).

This is to allow for evaluations and production testing of several prospective hydrocarbon-bearing zones.

Preliminary interpretation and calibration of the drilling, conventional cores and wireline logs show an interval of 79 metres of reservoir sandstones interbedded with shales in the Pliocene aged Lisu Formation between depths of 295mKB and 500mKB.

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Sonoro begins drill stem testing on Indonesia's LG-1 Up-dip well

CALGARY, Canada (Nov. 14, 2017)—Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV) is pleased to provide an update to drilling operations at its LG-1 Up-dip well, with drill stem testing (“Testing”) having commenced on the Budong Budong Production Sharing Contract in West Sulawesi, Indonesia.

Following successful logging of the open hole section from 297m to 549mKB, the Company has identified prospective oil and gas zones for further testing to determine indicative potential flow rates and reservoir conditions.

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Sonoro reaches total depth, provides update on LG-1 Up-dip drilling

CALGARY, Canada (Nov. 7, 2017)— Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV), hereby provides an update to drilling operations at its LG-1 Up-dip well on the Budong Budong Production Sharing Contract (“PSC”) in West Sulawesi, Indonesia.

Coring operations retrieved 27.4 meters of core from depths of 296.0m to 326.9m (90% core recovery). Operations were subsequently switched over to conventional drilling on Saturday, Nov. 4, and proceeded to a total depth of 549m. Logging operations are now under way.

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Sonoro offers LG-1 Up-dip well update, now holds an effective 99.5% working interest in Budong Budong

CALGARY, Canada (Oct. 27, 2017)— Sonoro Energy Ltd. and its wholly owned subsidiary Stockbridge Budong Budong B.V. (“Sonoro” or “the Company” or “Stockbridge” ) (TSX-V: SNV) are pleased to announce that, following oil and gas shows and gas kick to surface from 297 meters, as previously reported, the LG-1 Up-dip well has been successfully controlled, cased, cemented and logged to 297m—with coring drilling operations now commencing from 297 to 500m to the target sands.

The Company is also pleased to announce that it has resolved with Tately Budong-Budong N.V. (“Tately”) its 28% interest being assigned to the benefit of the Company. This will result in the Company now holding a 99.5% working interest in the Budong Budong block.

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Sonoro provides update on LG-1 Up-dip drilling

CALGARY, Canada (October 23, 2017)—Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV), is pleased to announce that drilling operations at its LG-1 Up-dip wellsite in West Sulawesi, Indonesia have advanced to a depth of 297 meters, where a gas kick to surface occurred as the drill string was pulled out of the hole.

While drilling through the upper hole section on Sunday, Oct. 22, personnel from Sonoro’s drilling contractor PT Advanced Services Indonesia (“ASI”) encountered hydrocarbons in the C1-C5 range in the return mud across several thin sands to a depth of 297m, while operations continued to weight up to about 9.9 ppg.

The gas kick was encountered as crews pulled the string out of the hole to prepare for logging and intermediate casing operations. Gas flowed to the surface and was diverted to the flare. Oil shows were also present in the mud.

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Sonoro announces results of its annual and special meeting of shareholders

CALGARY, Canada (Oct. 19, 2017) – Sonoro Energy Ltd. (“Sonoro” or the “Company”) (TSX-V: SNV) is pleased to report that at its annual and special meeting of shareholders held October 19, 2017 (the “Shareholders’ Meeting”), each of the current directors of Sonoro, namely, Christopher Atkinson, Richard Wadsworth, Bill Marpe, David Robinson, Ryszard Kurr and David Winter were re-elected for another term. Each of the directors received at least 99% of the votes cast in favour of their re-election.

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Drilling update on LG-1 Up-dip

CALGARY, Canada (October 11, 2017)— Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV), using a proven coring drilling method that’s new to Indonesia’s oil and gas industry, has begun the next stage of operations for drilling the 8½-inch-diameter hole of its LG-1 appraisal well in the province of West Sulawesi, with a planned intermediate casing depth of 300 meters, to then be followed by coring to main target depths between 300 and 500m.

The upper-hole sections, with 133 /8” and 95 /8” casing, have been cemented and completed by Sonoro’s drilling contractor, Balikpapan-based PTI Advanced Services Indonesia (“ASI”), with the permanent wellhead and BOP (blow out preventor) installed for main-hole drilling operations.

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Sonoro Energy commences drilling on LG-1 Up-dip well in Indonesia

CALGARY, Canada (October 2, 2017)— Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSXV: SNV), is pleased to announce that drilling has begun at its LG-1 Up-dip appraisal well in Indonesia.

Sonoro’s drilling contractor, PTI Advanced Services Indonesia (“ASI”), has rigged up with all personnel and services on site at the LG-1 Up-dip wellsite on the Budong Budong Production Sharing Contract (PSC) lease in West Sulawesi, and has begun drilling operations with its Rig 3.

Sonoro is also pleased to announce that it has received further confirmation from Indonesia’s Directorate General of Oil and Gas (“MIGAS”) that the exploration period for the Budong Budong PSC remains valid through Jan. 15, 2018, and that Sonoro has until that date to drill, complete and test the LG-1 Up-dip well with no further conditions attached. A MIGAS representative visited the LG-1 Up-dip site in West Sulawesi this past weekend and performed an inspection to its satisfaction, enabling Sonoro to begin drilling operations.

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Drilling rig arrives at West Sulawesi ahead of LG-1 Up-dip spudding activity

CALGARY, Canada (September 14, 2017)— Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSX-V: SNV), is pleased to announce that the drilling rig from PT Advanced Services Indonesia (“ASI”) has mobilized from Balikpapan, sailed across the Makassar Strait, and is now moored and being unloaded in the Indonesian province of West Sulawesi.

Sonoro expects to have the drilling rig moved in the next week to its LG-1 Up-dip site on the Budong Budong Production Sharing Contract (PSC) lease, where it will be readied for drilling operations along with other drilling services. Spudding of the LG-1 Up-dip appraisal well— targeting the Pliocene Lisu sands, with a potential unrisked 15.9 million barrels-of-oil equivalent resource as previously reported—is expected to occur the week of Sept. 25, 2017 or possibly sooner, depending on weather, road conditions, and final inspection and approval by SKKMIGAS to begin drilling.

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Sonoro meets with SKKMIGAS to conclude new Budong Budong appraisal well timeline

CALGARY, Canada (August 25, 2017)— Sonoro Energy Ltd. (“Sonoro” or “the Company”) (TSXV: SNV), is pleased to announce that its representatives have met with SKKMIGAS, Indonesia’s national oil and gas regulator, and confirmed a revised schedule for Sonoro’s Budong Budong Production Sharing Contract (PSC) appraisal well program in the province of West Sulawesi.

The schedule calls for drilling of the LG-1 Up-dip well during the second half of September, testing in October, and time for further evaluation of results, if necessary, thereafter.

It’s expected that SKKMIGAS will submit this information to MIGAS, the oil and gas directorate general within Indonesia’s Ministry of Energy and Mineral Resources, which overlooks the Budong Budong PSC and its license extension.

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