Sonoro Energy Ltd (SNV)

[MHT]

Seismic Data

If you refer to page 17 of the latest presentation, you will notice these blue lines drawn across the province. These are the seismic data lines that they acquired from a 3rd party, and represent over 600 KM. With this data, they've identified several oil reservoirs.

Originally, they were just going to drill on top of the old abandoned well (because they knew that oil was already there) while completing the seismic work on the rest of the province. This would have taken them at least one year, plus an additional 6 months for analysis, and cost over $20 Million.

With the seismic data in hand, not only did they save themselves the money, but also a lot of time. Although they received a 5-year monopoly on exploration, they won't need it now, since they already know where the fields are located. Now, it's just a question of how deep this fields extend. The oil gets lighter as they go deeper.