Site of Sonoro’s second well, about 1.5 km away from the company’s first vertical development well near Kerrobert, SK.
CALGARY, Canada (Dec. 12, 2023)—Sonoro Energy Ltd. ("Sonoro" or the "Company") (TSXV:SNV) is pleased to announce that it has spud the 14-29-32-23 well near Kerrobert, Saskatchewan, The well is planned as a multi-lateral well to be drilled on a structural high, targeting Waseca sands and extending up to 700 m from the intermediate casing point. Sonoro is deploying Rig 184SS, a super single rig operated by Precision Drilling. The well is intended to reach targets within two weeks.
Sonoro also announces that it is accelerating the expiry date of all outstanding common share purchase warrants related to its May 25, 2023 private placement. The Warrant conversion may be accelerated by the Company if the shares equal or exceed 10 cents per share for 10 trading days.
This requirement has been met and the Company will accelerate the warrants as at Dec. 12, 2023. Holders of these five cent warrants must exercise within 20 days or by Jan. 2, 2024. All warrants are fully transferable and warrant holders will be advised via email of the acceleration.
As of Dec. 12, 2023, a total of 26,319,999 warrants are outstanding.