Exploring opportunities for proven oil and gas reserves in the MENA region

After proving our chops in the Western Canadian Sedimentary Basin, we’re focused on taking our experience, our knowledge and our competitive advantage, through a proven innovative multilateral horizontal well technology, to the international stage in regions such as Middle East/North Africa (MENA).

On Nov. 20, 2024, Sonoro Energy announced the signing of a Heads of Agreement (“HOA”) with TransAtlantic Petroleum LLC, a privately owned energy company headquartered in Dallas, Texas, USA—a strategic partnership that marks a significant step forward in our expansion within the MENA region.

  • Under the terms of the HOA, Sonoro Energy and TransAtlantic will collaborate closely to identify and evaluate production investment opportunities in Iraq.

  • These opportunities are expected to arise through licensing bid rounds and/or direct negotiations facilitated by Iraq’s Ministry of Oil.

  • The focus will be on securing production licenses for undeveloped or underdeveloped oil fields with the potential to significantly increase production.

On Nov. 25, 2024, Sonoro announced a similar signing—a Heads of Agreement with Texas-based IPR Energy Group, another leading global energy company.

  • Initial focus will be acquiring producing assets in Iraq.

  • Under the terms of the agreement, Sonoro and IPR Energy will evaluate known oil accumulations expected to be made available through Iraqi government bid rounds and/or direct negotiations.

  • Goal of securing oil assets where significant production increases can be achieved via further field development and application of advanced technologies.

Applying multilateral horizontal well technology

In December 2023, Sonoro successfully drilled its first multilateral horizontal well on this Waseca channel fairway near Kerrobert, SK, with four horizontal legs and a total lateral length of about 1,600 meters.

The innovative multilateral horizontal well technology utilized in this well was developed in collaboration with Modern Wellbore Solutions—a strategic advancement now proven to enable the installation of slotted liners at multiple junction points within a single well, allowing for unparalleled access to multiple reservoir sections from one vertical well bore.

The site of Sonoro Energy’s second well near Kerrobert, SK, a multilateral horizontal well engineered to have about 2,000 metres of lateral extensions from four horizontal legs.

Production commenced in January 2024 via a Cold Heavy Oil Production with Sand (CHOPS) process typical of the area, and as of February, we made our first oil sales from the 14-29 well.

In June 2024, a pump change on the 14-29 well improved downhole lifting efficiencies for enhanced oil production. This workover boosted production by more than 30% compared to previous average production rates. Sonoro continues to focus on optimizing drawdown and oil production at the site.

About Sonoro Energy

Sonoro is a Toronto Venture Stock Exchange (“TSXV”) publicly traded oil and gas company (TSX-V: SNV) focused on oil and gas exploration and production in Canada and abroad, including the Middle East/North Africa (MENA) region.

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Sept. 24, 2024: Sonoro Energy board chairwoman Sara Akbar joins the Market Online's Capital Compass to talk about her decades of experience in the Iraqi oilfields—both as an engineer and a very successful executive.
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