Over the next three months the Company plans to pursue leads on potential heavy oil resources within the province, to design a comprehensive exploration program, to drill initial stratigraphic wells and determine potential development programs to supply its topping facility.
Richard Wadsworth, President and CEO of Sonoro, commented "We are extremely pleased to have Inglett & Stubbs International Ltd. as a strategic partner. They have a wealth of experience in Iraq since 2003, know the Salah ad Din region and the overall Iraq landscape. They have seasoned personnel in Iraq and understand that the management of the operating environment is an important step for Sonoro, enabling us to rapidly move to exploration for resources and their subsequent development."
Tony Sinyard, President of Inglett, commented "We view Iraq as a significant growth opportunity in both oil resources and power generation. We have the ability to rapidly deploy power solutions to meet the high demand for power in Iraq. We are aligning ourselves with Sonoro as they have developed strong relationships in Iraq that have resulted in securing resource rights in Salah ad Din, an area known to have vast oil resources. We have the ability to assist Sonoro in establishing initial operations and constructing its facilities with our existing team of experienced professionals in Iraq."
Sonoro intends to continue to pursue additional oil development opportunities in the Middle East and internationally with an initial focus on heavy oil, bitumen and asphalt resources in Iraq. The Company is leveraging its proprietary technology and its operational experience which provide a strategic competitive advantage in capturing and developing such resources.