TSX Venture Exchange Symbol: SNV
CALGARY, May 16, 2014 /CNW/ - Sonoro Energy Ltd. ("Sonoro"
or "the Company") (TSX-V: SNV) announces that Mr. Darren Moulds has been appointed Interim Chief
Financial Officer of the Company effective immediately.
Mr. Moulds is a senior financial professional with extensive
experience in the international oil and gas sector. His past
endeavors include holding CFO and officer level positions with
junior international oil and gas companies and six years with
PricewaterhouseCoopers LLP. During his previous experience,
he has been involved in various projects in the middle east,
including Kurdistan Iraq, which
will complement the efforts of Sonoro.
About Sonoro
Sonoro is an international unconventional
resource exploration and development company. Our current
focus is a pure play on bitumen/asphalt resource exploration and
development in Iraq. Sonoro
continues the evaluation of resource opportunities in Iraq and under our asphalt license agreement
in the Salah ad Din Province while the company pursues final
Federal approvals.
Forward-Looking Information
Certain statements in this news release may
constitute "forward-looking information" ("forward-looking
statements") within the meaning of applicable Canadian securities
laws. Certain statements in this news release may constitute
"forward-looking information" ("forward-looking statements") within
the meaning of applicable Canadian securities laws. Forward-looking
statements are often, but not always, identified by the use of
words such as "anticipate", "estimate", "potential", "could",
"ongoing", "prospective", "expected" and similar words suggesting
future outcomes. Specific forward-looking statements in this press
release include but are not limited to comments related to the
likelihood of obtaining requisite approvals and licenses to pursue
the development of bitumen/asphalt resources in Iraq, plans to commence certain investigations
and operations, and the expected impact of the Company's
participation in the mission to Iraq on its efforts to obtain a federally
approved license. By their nature, forward-looking statements are
based on current expectations regarding future events that involve
a number of assumptions, known and unknown risks, and
uncertainties. Actual results, performance or achievements of
Sonoro, or the industry, may vary materially from what is expressed
or implied by such forward-looking statements.
These forward-looking statements are not
guarantees of our future performance and are subject to risks,
uncertainties and other important factors that could cause our
actual performance to be materially different from what we project.
These risks and uncertainties include, but are not limited to: (1)
risks associated with obtaining, maintaining and the timing of
receipt of regulatory approvals, permits, and licenses; (2)
uncertainties related to financing of Sonoro's exploration
activities and continued operations through access to capital
markets; (3) the risk of volatile global economic conditions; (4)
continued political stability; (5) continued support from the local
communities, (6) operational risks in development, exploration and
production delays or changes in plans with respect to exploration
or development projects or capital expenditures; (7) the
uncertainty of resource estimates, geological interpretations,
estimates and projections in relation to production, costs and
expenses, and health, safety and environmental risks; (8) the
continued ability to obtain qualified staff and equipment in a
timely and cost efficient manner; (9) the risk of commodity price
and foreign exchange rate fluctuations; and (10) risks associated
with the implementation of new technology.
Given these uncertainties, you should not rely
on forward-looking statements. These forward-looking statements
also represent our estimates and assumptions only as of the date
that they initially were made. We expressly disclaim a duty to
provide updates to any forward-looking statements, and the
estimates and assumptions associated with them, to reflect events
or circumstances or changes in expectations or the occurrence of
anticipated events after the date they initially were made, except
and to the extent required by applicable law.
Neither the TSX Venture Exchange nor its Regulation
Service Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Sonoro Energy Ltd.
