CALGARY, Canada (April 30, 2025)—Sonoro Energy Ltd. (“Sonoro” or the “Company”) (TSX Venture: SNV) is pleased to announce that it has commenced drilling preparations for the Company’s first operated well in southern Alberta under the terms of its previously announced farm-in agreement (the “Agreement”) with Badlands Resources Ltd.
The project will be funded from proceeds raised via the exercise of the Company’s outstanding twelve-cent (C$0.12) warrants. Sonoro has approximately 27.5 million 12-cent warrants outstanding for proceeds of approximately C$3.3 million, if fully exercised. The Company has received sufficient proceeds to drill the well and a further commitment to complete the well via the exercise of these warrants; such proceeds currently total approximately C$2 million.
Under the Agreement, Sonoro will earn a 100% participation interest in a 2,240-acre land package by drilling this exploratory well. The acreage encompasses several high-potential geological features within the Paleozoic section which have been delineated and mapped using advanced 3D seismic imaging. The targeted formation lies at depths ranging from approximately 1,100 to 1,300 meters, which is characteristic of proven production of high-quality oil in the region.
Also under the Badlands Agreement, Sonoro has an option to earn a 100% participation interest in an additional 3,200 acres in the vicinity of the first well by committing to a second well. If exercised, the Company’s drilling portfolio will consist of approximately 20 prospective features. A successful first-well discovery would materially de-risk this sizable prospect inventory, providing material follow-up potential and positioning Sonoro for significant, scalable play assessment holding several million barrels of oil potential.
This drilling campaign marks Sonoro’s inaugural exploration initiative in Alberta and represents a key step in the Company’s strategy to build its asset base and unlock value from underexplored, high-potential, oil-bearing formations in southern Alberta.