Sonoro Energy Ltd (SNV)

[SimplyTheFacts]

What a complete and total disaster! Let me translate some of what was sugarcoated:

1-Drilling:

The driller does not accept our provincial agreement and is not drilling, we are looking for some other company.

2-Permits & Approvals

The land use permit for the civil works (i.e. roads, etc.) apparently has not been issued. Because we are not drilling anytime soon, most definitely not this year, if ever.

3-Farm In:

Farm in negotiations were unsuccessful because the only valuable thing we had to negotiate with, our Provincial Agreement, is not even accepted by the driller. We are currently doing our best to find another sucker, to give us a ton of money and are throwing the 3 months out there so our shareholders don't all rush to the exit door together...

4-Topping facility

Is not going to be built in time because we have no money and will run out of what we have in 3 months... this development would be a breach of contract in our Provincial agreement...

Seriously, what a complete disaster!! All they had to do was license their technology to other companies with heavy oil fields, sit back and collect the money!

Buy at 1 cent? why? It sounds like they are going out of business!

All the above in my opinion only,
Simply

PS. Thanks small_timer for the information