Sonoro Energy Ltd (SNV)

[SimplyTheFacts]

I honestly can't see how a Farm In/Out can be done at this juncture. Western Zagros has established wells, is in Kurdistan (which if you know the area is completely different from the rest of Iraq), market cap of 150 Mil, and accepts 46 Mil for a 20% stake in the company.

Let's see, what do we have at SNV... Market cap of 21 Mil, probably about 3 Mil in the bank, a contract with a provincial government, drilling companies that need confirmation of our permits and approvals or else the job will not be done... Technology that at the end of the day has not really been tested on a grand scale...

We need about ten Mil to drill, after all permits and approvals are granted... What can we do, sell 50% stake in the company for 10 Mil?... Seriously, under these circumstances, would you invest a large sum in this company?

Stock came out of the abyss finally, is this the final dead cat bounce... or contracts are finally signed? We shall know shortly... One thing for me is certain, if the financial markets do a nose dive a la 2008, SNV will find itself under .5 cents easily IMO...

I just kick myself for being so stupid, I had gotten out in the high .30s for all the right reasons, but listened to that interview with the CEO in July/August, just before The drilling contract was supposed to be released, and bought back in at .22 What was it he kept repeating, oh yeah a very low risk high reward play... or something like that...

Simply