Business
Sonoro Energy provides an update on activities in Indonesia
(via TheNewswire) Calgary, Alberta / TheNewswire / October 30, 2018 - Sonoro Energy Lt...
About this update from Sonoro Energy Ltd.
[{"type":"text","content":"Sonoro Energy provides an update on activities in Indonesia(via TheNewswire)\n \n \nCalgary, Alberta / TheNewswire / October 30, 2018 - Sonoro Energy Ltd. (\"Sonoro\" or the \"Company\") (TSXV: SNV) announces that the Joint Cooperation with an affiliate of one of the largest private companies in Indonesia, submitted a bid for the Selat Panjang production block in the conventional Oil and Gas 2nd Bidding round on October 12, 2018.\n\n \n \nLocal news reports have indicated that the Indonesian Ministry of Energy and Mineral Resources, will retender the block within the next two weeks. The Joint Cooperation will carefully review the tender requirements and procedures set by the Government of Indonesia for the forth coming 3rd bidding round. \n\n \n \nMr. Chris Atkinson, CEO of Sonoro commented that \"Sonoro through the Joint Cooperation continues to be interested in the block and we look forward to assessing the terms of the 3rd bidding round in order to progress our bid for the Selat Panjang assets\". The Joint Cooperation is also continuing its efforts to have the Budong-Budong PSC reinstated. \n\n \n \nThe Company will provide further updates on activities as material events progress.\n\n \n \nForward-looking Statements\n\n\n \nCertain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as \"may,\" \"should,\" \"anticipate,\" \"expects,\" \"estimates,\" \"seeks\" and similar expressions. In particular, without limiting the generality of the foregoing, this news release contains forward-looking information regarding the PSC.\n\n\n \nForward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals, changes in legislation including but not...