Sonoran Energy Completes $18 Million Financing Friday November 30, 12:01 pm ET DALLAS, Nov. 30 /PRNewswire-FirstCall/ --
Sonoran Energy, Inc. - (OTC Pink Sheets: SNRN - News), the independent oil and gas exploration and production company, today announced that it has concluded an $18 million financing consisting of a $15 million senior secured credit facility from Standard Bank plc and Nordkap Bank AG and a contemporaneous $3 million equity investment from executive management, Board members and existing and new investors. This round of financing replaces an existing credit facility of $7 million and will provide funding for Sonoran's on-going development programs in Louisiana and West Texas....