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Sonoro Energy Ltd. commences completion operations in Saskatchewan and closes full exercise of warrants
(TheNewswire) This press release is not to be disseminated in the United States ...
About this update from Sonoro Energy Ltd.
[{"type":"text","content":"Sonoro Energy Ltd. commences completion operations in Saskatchewan and closes full exercise of warrants\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n This press release\nis not to be disseminated in the United States\n \n \n \n \n \n \n Calgary, Alberta\n \n \n –\n \n \n TheNewswire – January 4\n \n \n th\n \n \n , 2024\n \n \n –\n \n \n Sonoro Energy Ltd.\n(\"Sonoro\" or the \"Company\") (TSXV:SNV)  is\npleased to announce the commencement of final lease and facilities\nconstruction towards achieving oil production  at its recently\ndrilled 14-29-32-23 W3 well.\n \n \n Sonoro has acquired\nall related surface and downhole equipment required to complete and\nplace the well on production.  Surface facility and lease access\nconstruction has commenced and the service rig is scheduled for the\nweek of January 9, 2023 at which time the downhole pump, tubing and\nrods will be installed to facilitate oil sales. Initial oil\nproduction rates are expected to continually improve as the well\ncleans up as the sand cuts decline. This is standard for Cold Heavy\nOil Production (“CHOPs”) strategy with sand production being\ndeployed.  Personal and services have been secured to effectively\noptimize the well in accordance to industry leading CHOPs\noperations.\n \n \n \n \n Sonoro also announces that, further to its December 12,\n2023 news release, the Company successfully completed the acceleration\nof all 33,333,331 $0.05 common share purchase warrants (the\n\"Warrants\") issued pursuant to its May 2023 private\nplacement of units. Sonoro had the right to accelerate the expiry date\nof the Warrants in the event that the price of Sonoro's common shares\nequaled or exceeded $0.10 per share for ten (10) trading days (the\n“Acceleration Event”). Sonoro announced that the Acceleration\nEvent occurred and the expiry date of the Warrants was accelerated to\nJanuary 2, 2024, being twenty (20) days after the date of the notice.\nTotal proceeds from the warrants totaled $1,666,667.\n \n \n \n \n \n \n \n \n Forward-looking\nStatements\n \n \n \n \n Certain information in this news release constitutes\nforward-looking statements under applicable securities laws. Any\nstatements that are contained in this news release that are not\nstatements...