CALGARY, Canada (Oct. 16, 2023)–Sonoro Energy Ltd. (“Sonoro” or the “Company”) (TSXV:SNV) announces that it has agreed to amend certain terms of its previously announced Farmin Agreement with its farmin partner Superb Operating Company, a wholly owned subsidiary of Proton Technologies Cananda Ltd.
The amendments are intended to allow for a more focused drill program on certain identified lands and to include multi-lateral horizontal wells, all of which is intended to enhance the partnership relationship.
The amendments to the Agreement will extend the deadline for spudding the first vertical well and subsequent horizontal wells in addition to providing for an improved collaboration on the initial and future well programs. Commencement of the drilling is expected in October 2023, subject to regulatory approvals, rig availability and completion of definitive documentation.
Sonoro will provide an update and further details on the entire program, including the revised drilling timetable when completed.