Sonoro Announces Appointment of Interim Chief Financial Officer
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.
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.
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.For further information:
Chairman and CEO