Business
Sonoro Appoints Nasser Bin Jarallah of the Bin Jarallah Group of Companies to the Board
Sonoro Appoints Nasser Bin Jarallah of the Bin Jarallah Group of Companies to the Board
About this update from Sonoro Energy Ltd.
[{"type":"text","content":"\n\n\n\n Aug. 10, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\nTSX Venture Exchange Symbol: SNV August 10, 2010\n\nCALGARY, Aug. 10 /CNW/ - Sonoro Energy ("Sonoro" or "the Company") (TSXV: SNV) is pleased to announce that Nasser Bin Jarallah has agreed to join the Board of Directors of Sonoro Energy Ltd.\nMr. Bin Jarallah is an established business leader in the Middle East. He is the CEO and Vice President of the Bin Jarallah Group of Companies in Saudi Arabia. The Jarallah Group was founded in 1976 and employs over 8,000 people across Saudi Arabia in multiple sectors, including asphalt, oil and gas, petrochemicals and construction. Mr. Bin Jarallah has presided over the growth of the group. Among other projects, the group is building a major new seamless pipe mill at the Jubail Industrial City. The 600,000-ton per year plant is a joint venture with steel giant ArcelorMittal and will address a shortage in the region of high-end line pipes and other products for the oil and gas industry.\n"We are extremely pleased to have Mr. Nasser Bin Jarallah join the Board," said Richard Wadsworth, CEO of Sonoro Energy. "With his extensive business successes, he brings a wealth of knowledge, experience and influence, which will assist with our growth plans in the pursuit of new projects in the Middle East and internationally."\nIn association with this announcement the Company has granted 500,000 stock options to Mr. Bin Jarallah, exercisable at $0.115 per share over a 5 year term as per the company stock option plan. The terms and conditions of the grant are subject to the approval of the TSX Venture Exchange.\n\nSonoro is a public company with its head office based in Calgary, Canada. The Company is pursuing oil and gas development opportunities in the Middle East and internationally with an initial focus on heavy oil, bitumen and asphalt resources. The Company believes that its proprietary technology p...