Sonoro Energy Ltd (SNV): You did not ask the right questions and...

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SimplyTheFacts

Re: petit homme post# 532

Friday, 10/28/2011 7:56:34 AM

Friday, October 28, 2011 7:56:34 AM

You did not ask the right questions and he gave you no answers.

1- Why is the drilling contractor not signing on? What exactly are the further clarifications and assurances the drillers need that we have been unable to provide?

2- Does our provincial agreement need approval from the oil ministry of Iraq or government in general?

3-We are running out of money and cannot drill without a farm-in agreement. What can you possibly offer a company to get them to agree to a farm-in deal with you, without giving out the entire farm?

4- The land use permit for the civil works (roads, etc.) has not even been issued yet, and your current farm-in negotiations failed. Wouldn't this mean that even if you find another company to agree to a farm-in agreement and get the civil works permits issued, we are looking at late spring 2012 for drilling?

5- We can't build the topping facility (running out of time and money), as mentioned in our agreement with the provincial government. Wouldn't that be a breach of our contract agreement? Even if they do accept an extension, wouldn't a new agreement need to be drawn and signed?