CALGARY, Canada (Oct. 30, 2024)—Sonoro Energy Ltd. (“Sonoro” or the “Company”) (TSXV: SNV) is pleased to announce that it has entered into a Farm-In Agreement (the “Agreement”) with Badlands Resources Ltd. to explore for oil in southern Alberta.
Through this agreement, Sonoro will earn a 100% working interest in a 2,240-acre land package by drilling an exploratory well. The acquired acreage encompasses several promising geological structures that have been carefully identified and mapped with high-resolution 3D seismic data. These targeted formations lie at an approximate depth of 1,300 meters and are known to produce high-quality oil in the region. Notably, the area has limited exploration activity, enhancing the potential for new discoveries.
In the event of a successful discovery, Sonoro plans to strategically expand its land holdings to include additional nearby anomalies with similar geological profiles. This expansion would allow the Company to further leverage the de-risked nature of these prospects, optimizing the prospect inventory and potentially enhancing production volumes across a larger land base. This Agreement represents a significant step for Sonoro in its efforts to strengthen its asset portfolio and capitalize on untapped resources within Alberta’s oil-rich landscapes.
Sonoro will be providing an update regarding its specific activity in the Middle East North Africa (“MENA”) region shortly. The Company has progressed its development activities in Iraq and Libya and will update shareholders accordingly.
Sonoro’s well in Saskatchewan continues to generate oil and provide production for the Company. The Company is considering various alternatives for the operations in Saskatchewan.