Noticed movement started as news came out.
2005-10-17 13:06:01
Sonoran Energy Estimates Reserves of up to 30 Million Barrels of Oil in the Jordan Azraq Block --------------------------------------------------------------------------------
Business Editors / Energy Editors
AMMAN, Jordan--(BUSINESS WIRE)--Oct. 17, 2005--
Sonoran Energy, Inc. (OTCBB:SNRN) announced today that
based on the results of its comprehensive technical study of Jordan's
Azraq Block the Company believes the Block contains reserves of up to
30 million barrels of oil. The Company has finalized a Production
Sharing Agreement (PSA) for the Azraq Block with the Natural Resources
Authority (NRA) of the Hashemite Kingdom of Jordan. The terms of the
PSA give Sonoran Energy a 60 percent production share in the Block.
"Based on our technical study of the Block we are now confident
that there is a sizeable untapped oil resource in this region of
Jordan," said Peter Rosenthal, Sonoran Energy President and CEO. "Not
only do we believe the Azraq Block contains oil reserves upwards of 30
million barrels, we believe there is an opportunity for the discovery
of new structures that could add significantly to the resource
potential. Furthermore, under the PSA Sonoran Energy becomes the
operator of the Hamzah oil field, where our immediate target is to
apply new technology and significantly enhance production in a
relatively short period."
"We believe in Jordan's oil production potential and have been
particularly impressed by the support of the government authorities
and look forward to embarking on this very exciting opportunity," said
Ala Nuseibeh, Sonoran Energy Executive Vice President Middle East
Operations.
Sonoran Energy plans to explore for new fields in the Azraq area
with the expectation of discovering new fields and additional new
plays. The Company believes that new 3D seismic data will reveal such
fields, which will add further upside to the Block.
The PSA, which has already been endorsed by the Jordanian
Government Cabinet, is now being passed to the Jordanian Parliament
for ratification in its next session, leading to the signature by His
Majesty King Abdullah II, King of Jordan.
The Azraq Block (http://www.nra.gov.jo/hydrocarbons.htm), which is
located east of the city of Amman, is approximately 11,250 sq. km. in
size and contains the Hamzah oil field, which has been producing since
1985. The Hamzah field lies in the eastern part of the Block bordering
Saudi Arabia and containing the Azraq-Sirhan Graben, which is mature
for oil generation.
About Sonoran Energy, Inc.
Sonoran Energy, Inc. is an independent oil and gas company that is
building a diversified portfolio of high value oil and gas assets in
North America, the Middle East, the Caspian region and North Africa.
With a presence in the Middle East, Asia, and North America, Sonoran
Energy explores, develops, and enhances the performance of material
and high value oil and gas opportunities, leveraging the Company's
technical expertise and extensive industry and governmental
connections.
When I first bought it on the news at .95..it was fluctuating every which way up, down and around...then it slowly dropped..always with a spread of a few points....but, slowly serious buys are coming in as I write this..i now feel alot better about my purchase.
Early morning 8-k came out...I think this had to be digested along with the news I posted. It appears all is looking fine if comparing it to all the buys now coming in.
Keep ur eye on this..I know I am!
If anyone has any comments please feel free to extend any advice or other dd.
thanks very much,
julia
Another nice looking find..... ;D as was MXON
Got my eyes wide open.... ::)
Applaud your work........ ;D
ok, I'm in @ 0.87....Let's see what it has got!
Hey Setravis!
Thank you! ;D
Just posting the news when i see them come and if i get the chance to do so quickly...hard to scramble them in sometimes right away.
You devil you......hee hee..glad to see u waited and watched a bit to get a better price them me :D...You know, I always do that...i jump the gun....i always tell myself to watch for at least 10-15 minutes, because the prices usually calm down a bit...but, it went nuts when the news first hit...$1 buys just jumping in...so i just grabbed it...then watched it settkle below .90 for awhile....oh well...hopefully will go back over the $1 soon.
Did u get some mxon...was thinking about it...but, i stalled too long..wonder if its going to go higher.
good luck!! ;D
julia
2005-10-31 07:32:01
Sonoran Energy Announces Start of Louisiana Oil & Gas Production
PHOENIX--(BUSINESS WIRE)--Oct. 31, 2005--
Sonoran Energy, Inc. (OTCBB:SNRN) announced today it
has started oil and gas production following the commencement of the
Phase 1 work-over program on its Louisiana oil and gas properties.
The first phase of the program is designed to increase production on
the Louisiana properties with a total of four wells going into
production over the next 3 to 4 weeks. Following the completion of
this phase the Company plans to move quickly into Phases 2 and 3,
which will consist of work-over programs on additional, higher-impact
wells.
Bill McFie, Sonoran Energy Executive VP North America commented,
"The first phase in Louisiana consisted of cleaning out the existing
well bores with coiled tubing and improving the ability to
economically dispose of the produced water from four wells on the
properties. This Phase 1 program is expected to be completed within 3
to 4 weeks. Production has already begun on one of the wells, and our
expectation is to increase production to up to 200 barrels of oil
equivalents (BOE) per day by the end of phase one."
The goal of the full work-over program in Louisiana is to
increase significantly the production from the properties with net
proven developed reserves of 1.1 million barrels of oil and 6.5 BSCF
of gas (2 million BOE). In February 2004, Sonoran Energy purchased a
100 percent working interest before payback (87% thereafter) in oil
and gas wells and leases in the Beauregrad, Vernon, Rapides and
Livingston Parishes in Louisiana.
"This first phase of the program provides Sonoran with an
immediate increase in production and cash flow. This is just the
beginning, and we expect to increase our production significantly
during the further development phases of our three projects in the US
(two in Texas and this project in Louisiana)," said Peter Rosenthal,
Sonoran Energy President and CEO. "Our recent financing success has
enabled us to commence work on the Louisiana operations and to start
aggressively to build our overall production base. We were also very
pleased to have been in a position to move quickly on this work-over
program and bring these wells into production as the State of
Louisiana re-builds in the wake of Hurricane Katrina."
About Sonoran Energy, Inc.
Sonoran Energy, Inc. is an independent oil and gas company that
is building a diversified portfolio of high value oil and gas assets
in North America, the Middle East, the Caspian region and North
Africa. With a presence in the Middle East, Asia, and North America,
Sonoran Energy explores, develops, and enhances the performance of
material and high value oil and gas opportunities, leveraging the
Company's technical expertise and extensive industry and governmental
connections.
Nice to see this one bounce back up.
I was in the red.....now not as much.May be able to sneak it out now. ;D
+22.73%........Volume @ 268,332
Hey Setravis!
I hope u can sneak out of this unscathed :)
I got in a higher than u, so hopefully this will go higher this month as the news today allows me to believe:
"The first phase of the program is designed to increase production on
the Louisiana properties with a total of four wells going into
production over the next 3 to 4 weeks. Following the completion of
this phase the Company plans to move quickly into Phases 2 and 3,
which will consist of work-over programs on additional, higher-impact
wells."
Good luck to us! Hope all ur trades are going vivid green ;D
julia
Some more news....
2005-11-01 08:47:01
Sonoran Energy Closes $8.5 Million Dollar Private Equity Placement
News Editors
PHOENIX--(BUSINESS WIRE)--Nov. 1, 2005--
Sonoran Energy, Inc. (OTCBB:SNRN) is pleased to announce
that it has closed its recently announced private equity placement for
gross proceeds of $8.5 million. The financing round consisted of
several private placements by investors and institutions of which the
largest single investment was $2,560,000. This financing will be
primarily used to help fund development of the Company's oil and gas
projects in Louisiana and Texas, and the Company's oil prospects in
the Middle East.
"We are extremely pleased with the confidence the investment
community has shown in Sonoran Energy's strategic direction and our
plans to grow as an independent oil and gas company," said Peter
Rosenthal, Sonoran Energy President and CEO. "The proceeds of the
private placement will serve as a catalyst as we develop our domestic
oil and gas opportunities, and start work on the PSA in Jordan. We
appreciate the quick and positive reaction from investors, and the
support and efforts of the investment community."
Rikky Hasan, Managing Director of investment bank MTM Corporate
Finance which led the fundraising commented, "We are very pleased with
the response to this private placement as investors largely comprise
individuals from the Middle East who could provide both insight and
influence to assist Sonoran in its expansion plans for the region."
Keeps the good news coming :)
2005-11-02 07:51:01
Sonoran Energy Completes Baron Oil Acquisition
PHOENIX--(BUSINESS WIRE)--Nov. 2, 2005--
Sonoran Energy, Inc. (OTCBB:SNRN) President and CEO
Peter Rosenthal is pleased to announce that the Company has finalized
its acquisition of Baron Oil, a privately-held Norwegian company. The
final terms of the acquisition were concluded following the completion
of a pre-acquisition audit of the Baron Oil assets and financial
statements. Baron Oil has a significant presence in the Middle East,
proven oil and gas reserves in Texas, and well-established
opportunities in the prolific oil province of the Caspian Region.
"We are extremely pleased to have concluded this important
acquisition for Sonoran Energy," said Peter Rosenthal, Sonoran Energy
President and CEO. "While the completion of the acquisition has taken
longer than expected, we can now announce that the final terms have
been satisfied and we are moving forward on developing the many
opportunities that Baron Oil brings to the Company."
Baron Oil Shareholders will receive 19,026,514 shares of Sonoran
Energy restricted common stock in exchange for their shares in Baron
Oil as consideration for the acquisition.
About Sonoran Energy, Inc.
Sonoran Energy, Inc. is an independent oil and gas company that is
building a diversified portfolio of high value oil and gas assets in
North America, the Middle East, the Caspian region and North Africa.
With a presence in the Middle East, Asia, and North America, Sonoran
Energy explores, develops, and enhances the performance of material
and high value oil and gas opportunities, leveraging the Company's
technical expertise and extensive industry and governmental
connections.
The news today caused a 10% bounce back up :D
2005-11-03 09:32:01
Sonoran Energy Formalizes Arrangement with Leading Global Investor Relations Agency
News Editors
PHOENIX--(BUSINESS WIRE)--Nov. 3, 2005--
Sonoran Energy, Inc. (OTCBB:SNRN), the independent oil
and gas exploration, development and production company, today
announced that it has formalized an arrangement with Taylor Rafferty,
the leading global investor relations firm, to build Sonoran Energy's
global capital markets profile and significantly expand its following
and support in the investment community.
In its capacity as Sonoran Energy's global investor relations and
financial communications agency, Taylor Rafferty will broaden and
sharpen the delivery of the company's investment thesis, expand its
equity market information systems, on-line and collateral IR
materials, and undertake the systematic investor targeting and
contact programming that are the hallmarks of a global best practice
investor relations program. Taylor Rafferty will now become Sonoran
Energy's sole IR firm, replacing their existing agency and providing
the company support through its offices in New York, London and Tokyo.
Peter Rosenthal, President and Chief Executive Officer of Sonoran
Energy commented, "We are steadily advancing our strategic plans in
the US and in prospective areas internationally. My colleagues and I
are committed to building the equity markets' understanding and
appreciation of Sonoran's opportunities and its management's track
record. We look forward to working with Taylor Rafferty, which has
particularly broad and deep experience in the international energy
sector."
Brian Rafferty, founder and Managing Director of Taylor Rafferty
noted, "We are pleased to commence our relationship with Sonoran
Energy and assist management to conduct best practice investor
relations and capital markets communications to advance their
value-building strategy. Over the years, many of our small cap
clients have grown and developed into leaders in their sectors, and
the Sonoran Energy management team has the industry track record and
business plan to realistically aspire to this status."
I think this news will help! Pps is good now to get in...Setravis...any thoughts..im thinking of adding?
2005-11-23 09:44:01
Government Of Jordan Signs First Oil Production Sharing Agreement In Eight Years: Sonoran Energy To Explore And Develop The Azraq Block
Business Editors
AMMAN, Jordan--(BUSINESS WIRE)--Nov. 23, 2005--
Sonoran Energy, Inc. (OTCBB:SNRN) is pleased to
announce that the Production Sharing Agreement (PSA) between the
Natural Resources Authority (NRA) of the Hashemite Kingdom of Jordan
and Sonoran Energy was officially signed by Jordan's Minister for
Energy and Natural Resources and President of the Natural Resources
Authority Azmi Khreisat and Mr. Ala Nuseibeh, Executive Vice
President, Middle East Operations on Sonoran's behalf today. The
official signing of the PSA took place at the offices of the Natural
Resources Authority in Amman and was attended by several members of
the Jordanian Cabinet, Government officials, individuals from the
local business and finance community, and the US Embassy Deputy Chief
of Mission Mr. Daniel Rubinstein and his economic councilors."
The Agreement between the NRA and Sonoran Energy is the first PSA
signed by Jordan in over eight years", said Dr. Maher Hijazin,
Director General of the National Resources Authority of Jordan. "The
government has placed the development of indigenous energy resources
as a high priority on the national agenda. With rising oil prices and
the fact that Jordan imports 97% of its energy needs, Jordan is
looking for ways to start building its internal reserves to become
less dependent on foreign oil imports. We are hoping the PSA with
Sonoran Energy will partially contribute to the solution to this
challenge."
Under the PSA, Sonoran Energy has an agreement to explore and
develop the approximately 11,250 sq. km Azraq Block located directly
east of Jordan's capital city of Amman. In addition to the
exploration and development program, Sonoran Energy will also take
over operation of the existing producing wells in the Azraq Block's
Hamzah oil field.
"We are extremely pleased to be partnering with the Government of
Jordan for this very important milestone in the Country's economic
development," said Peter Rosenthal, Sonoran Energy President and
Chief Executive Officer. "With this agreement we are taking a
significant step towards delivering on our strategy to drive growth
through high value oil and gas opportunities, and Sonoran Energy is
proud to be part of the program to increase Jordan's domestic oil
production.
Ala Nuseibeh, Executive Vice President Middle East Operations for
Sonoran Energy commented, "Working with the Ministry and the NRA has
been a real pleasure and I would like to thank them for all the
support they have provided us. I look forward in making this project
a real success together with them.
We believe strongly that the Azraq Block is under-explored, and that
with modern exploration and development techniques existing
production on the field can be increased. Sonoran Energy also
believes that there is good potential for new discoveries that could
significantly boost production within the Block."
Sonoran Energy will commence an aggressive evaluation program
focusing both on exploration and the potential to boost production
from the existing wells and facilities. This program will involve the
acquisition of 3D seismic data and the drilling of two exploration
wells in addition to a number of technical studies.
The Azraq Block (http://www.nra.gov.jo/hydrocarbons.htm), which
contains the Hamzah oil field, has been producing since 1985. The
Hamzah field lies in the eastern part of the Block bordering Saudi
Arabia and containing the Azraq-Sirhan Graben, which is mature for
oil generation.
The primary reservoir in the field is a fractured carbonate that
has been produced through a limited number of vertical wells. The
last well on the field was drilled in 1989 on 2D seismic data. At one
stage the field was flowing over 400 barrels of oil per day (bopd)
but it is now producing around 30-40 bopd. Since its discovery in
1984, total oil production from Hamzah is just under 1 million
barrels of sweet oil. This oil is currently transported by truck to a
refinery on the outskirts of Amman.
THis news was very good on Nov 23, pps reacting slowly it appears.
Still holding...I think it just needs some time :)
good luck to all ;D
julia
Symmetrical Triangle (continuation) Pattern
With all that news, looks like we could get something good to happen,
How about a breakout ! Put the wizard spell on it !! ;D
Support @ 0.70...0.66...0.63
Resistance @ 0.75...0.80...0.83
Hey Setravis...that sounds nice and positive! ;D
Hoping for the best!
Good luck to us and thanks very much for your analysis. ;D
julia
Yesterday had a bounce possibly in anticipation of todays news.
2005-12-08 02:24:01
Sonoran Energy and AGR Sign Strategic Cooperation Agreement: AGR to Invest $3 Million in Sonoran, Provide Technical Support, and Pursue Joint Venture Projects
PHOENIX--(BUSINESS WIRE)--Dec. 8, 2005--
Sonoran Energy, Inc. (OTCBB:SNRN), President and CEO
Peter Rosenthal announced today that the Company has signed a
Strategic Cooperation Agreement with AGR (www.AGR.no). Under the
Agreement, AGR will invest $3 Million into Sonoran Energy, provide
technical support and resources, and pursue joint venture oil and gas
opportunities with the Company worldwide. The agreement with AGR, a
leading international provider of services for the global oil and gas
industry, will see AGR partner with Sonoran Energy to provide a
portfolio of technical services for the planning and execution of
projects, especially relating to asset management, exploration,
drilling/completion, and production of wells/fields.
"We are extremely pleased to have reached this agreement with
AGR," said Peter Rosenthal Sonoran Energy President and CEO. "This is
a major milestone in achieving our goal of building our organizational
structure through partnerships with world-class companies. Together
with AGR we are now in a position to aggressively accelerate the
development of our diverse worldwide portfolio of projects. AGR has
access to wide range of technology, and also has an experienced team
in place to further development of those projects. In addition, AGR
has made a substantial investment in Sonoran Energy, and has the
opportunity to share in the upside as we move forward."
Per Inge Remmen, Managing Director of AGR commented, "This
strategic partnership is an excellent opportunity to combine our
technical expertise and capacity with Sonoran Energy's growing
portfolio of high quality international oil and gas projects. We
believe Sonoran Energy has great potential and together with the
Company's experienced management team, we look forward to a long and
successful partnership."
AGR has already started working for Sonoran Energy, having
deployed several members of its team to the Company's projects in
Jordan and the U.S. Sonoran and AGR also plan to review several new
projects in North America, the Middle East, North Africa and the
Caspian region.
About AGR
AGR (www.AGR.no) is a leading international provider of
specialized services for the global oil and offshore industries based
on innovative and technologically advanced solutions. AGR is also
Norway's largest supplier of drilling management services and resource
personnel to the Norwegian oil and gas industry. The Company's core
areas of business include: Well Services, Subsea Operations, Pipeline
Inspection, Manning Services, Management Services, Asset Integrity
Management, Project Services, Drilling Management Services, and
Outsourcing of Drilling Departments. AGR is headquartered in Bergen,
Norway and has over 800 employees worldwide.
Seems like we hit near the low today....then a large insider buy hit near eod causing the ask to jump and a few buys to kick in. Hopefully, some good news to follow and a reversal soon.
http://www.secform4.com/insider/showhistory.php?cik=snrn
Monday, March 27 2006 3:15 AM, EST
Sonoran Energy Commences Phase-2 Workover Program on High Impact Wells in Louisiana
PHOENIX--(BUSINESS WIRE)--March 27, 2006-- Sonoran Energy, Inc. (OTCBB:SNRN), the fast growing international oil and gas exploration and production company, announced today that work has commenced on three high impact wells on Phase-2 of the work-over program on its Louisiana oil and gas properties. These three wells represent access to approximately 75 percent of Sonoran Energy's proven reserves in Louisiana. In addition, the Company reports that intervention work on its Phase-1 work-over program in Louisiana has resulted in production from three of four Phase-1 wells. These Phase-1 operations have resulted in production of over 100 BOE/day.
Peter Rosenthal, President and CEO of Sonoran Energy, stated, "The results of the Phase-1 work-over program represent a major milestone for Sonoran Energy as we move our dormant wells in Louisiana into production. We acquired these oil assets at a very reasonable price, and have now converted these valuable Louisiana properties from non-producing to producing. Phase-2 of the work-over program focuses on three of the highest impact wells in our Louisiana portfolio, which promise to add significantly to our production."
Initial wireline survey results, to confirm the current condition of these high impact wells, indicate that the problems associated with the wells may not be as severe as initially suspected. This should simplify the remedial work program being undertaken to bring the wells back into production.
An additional work program to re-activate the remaining well in Phase-1, and to improve performance from the existing Phase-1 wells, is being finalized and will be implemented immediately as materials and equipment are secured. This should bring us in line with the 200 BOE/day we expected to achieve in Phase-1. It is anticipated that the Phase-2 work will continue over the next several months running concurrently with the additional Phase-1 work.
To view a more detailed presentation of Sonoran Energy's Louisiana Operation Phase-1 Progress visit the Company's website and click on the following presentation link:
http://www.sonoranenergy.com/i/pdf/LouisianaOperationsMarch2006.pdf
Well, well, well....finally,this turkey seems to be reversing. Dang, i knew i should have added yesterday!
Now lets get back to the $1 zone so i can finally release this bag. Dang, they have to give u a heart attack first don't they..i almost bailed last week when it was in the low .30's...i thought is it ever going to stop dropping...finally it did.
No news..just making a comeback....good volume lately...hopefully this has more green to give :)
glta
Julia,
the stochastics are favoring you very nicely...theRSI shows there is more room to run and the MACD can certainly go higher.
But:
a.) today's close was pretty weak I'd say...looking at the candle with the long upper shadow (unless it's a faulty tick)
b.) the high touched the 200 MA and fell back strongly....watch out for the resistance at 200MA...hope it crosses and importantly...CLOSES above that.
good luck on trying to get rid of your bag. ;)
Thanks Vic666! :) Appreciate your comments. ;)
Ya..it had a morning run up, then slowly trickled down and held basically steady the rest of the day. Well..at least its finally getting some more attention and will hopefully do a repeat of last October....that was a sweet ride...too bad i got in right near that last high...lol..so typical of me :D
gl to u 2! :)
julia
Press Release Source: Sonoran Energy, Inc.
Brian Rafferty To Join Sonoran Energy Board of Directors
Monday April 23, 2:06 pm ET
DALLAS, April 23 /PRNewswire-FirstCall/ -- Sonoran Energy (OTC Bulletin Board: SNRN - News) the independent oil and gas exploration and production company, announced that investor relations and capital markets consultant Brian Rafferty has been nominated to join its Board of Directors. Mr. Rafferty will stand for re-election at Sonoran's May 16 Annual Meeting of Shareholders.
Sonoran Chairman and Chief Executive Peter Rosenthal said, "We are very pleased to welcome Brian onto our Board, whose quality reflects our ambitions to become a significant player in the industry, as well as our commitment to continually improving our corporate governance and oversight. Brian has worked with Sonoran as a consultant through some challenging situations, and has remained focused on the opportunities presented by our strategy and business model. I look forward to the addition to our Board and Brian's professional perspective and extensive capital markets experience."
Brian Rafferty said, "Like several of Sonoran's Board members and senior management, I have worked as a consultant to some of the world's largest and most successful energy companies. I look forward to assisting Sonoran focus on building a foundation of high quality domestic production as a pre-cursor to significant international expansion, and to best leverage its business model of strategic relationships with world class oil field service companies."
About Brian Rafferty:
Brian Rafferty (49) has specialized in cross border investor relations and capital markets consulting for over 25 years. He co-founded Taylor Rafferty, which is the leading global investor relations firm, with offices in New York, London, Tokyo, Hong Kong and Seoul. Mr. Rafferty currently serves on the Boards of several charitable organizations and private international enterprises.
About Sonoran Energy, Inc.
Sonoran Energy is a U.S.-based independent oil and gas company that explores, develops, and enhances the performance of high value oil and gas opportunities. With a focus on health, safety and the environment, we leverage the Company's innovative organizational alignment model with leading technical partners. For more information on the Company visit http://www.sonoranenergy.com
For more information contact:
Investor Relations
Taylor Rafferty
Jason Simmonds
Tel: (212) 889-4350
Email:
[email protected]This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.
--------------------------------------------------------------------------------
Source: Sonoran Energy, Inc.
Brian Rafferty.......
Looks like a strong appointment here !
Looking at this 3 year, chart could be a,
Falling Wedge (Reversal) Pattern in the making.......
The falling wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope down and have a bullish bias. However, this bullish bias cannot be realized until a resistance breakout.
The falling wedge can also fit into the continuation category. As a continuation pattern, the falling wedge will still slope down, but the slope will be against the prevailing uptrend. As a reversal pattern, the falling wedge slopes down and with the prevailing trend. Regardless of the type (reversal or continuation), falling wedges are regarded as bullish patterns.
As with rising wedges, the falling wedge can be one of the most difficult chart patterns to accurately recognize and trade. When lower highs and lower lows form, as in a falling wedge, a security remains in a downtrend. The falling wedge is designed to spot a decrease in downside momentum and alert technicians to a potential trend reversal. Even though selling pressure may be diminishing, demand does not win out until resistance is broken. As with most patterns, it is important to wait for a breakout and combine other aspects of technical analysis to confirm signals.
52wk Range: 0.11 - 0.60
Volume: 608,387
Avg Vol (3m): 74,982.5
Technicals
Last Price Quote is:
-8.40%below 13-day MA
-16.52%below 50-day MA
Made a nice Breakout from that Falling Wedge (reversal) Pattern,
with some outstanding follow through.
Indicators are looking good, MACD bouncing off center line.
Worth an updated look...very nice indeed.
Also the Double Bottom we didn't mention... 8)
Now..."The Golden Cross" is in progress, 50-day crossover of the 200-day.
52wk Range: 0.11 - 0.37
Volume: 1,091,409
Avg Vol (3m): 242,426
Keeps on a keeping on....... 8)
Wednesday May 30
King Abdullah of the Hashemite Kingdom of Jordan has signed the production sharing agreement (PSA) for the Azraq block - including the Hamza oil field. As this agreement was previously ratified by the National Assembly of Jordan, the signature of King Abdullah marks the successful conclusion of negotiations between Sonoran and the Jordanian authorities. The signing took place at the World Economic Forum on the Middle East held at the Dead Sea, Jordan.
52wk Range: 0.11 - 0.38
Volume: 1,252,832
Avg Vol (3m): 305,543
Press Release Source: Sonoran Energy, Inc.
Sonoran Energy Reports Increase in Proved Oil & Gas Reserves
Monday July 16, 2:25 pm ET
DALLAS, July 16 /PRNewswire-FirstCall/ -- Sonoran Energy, Inc. (OTC Bulletin Board: SNRN - News), the independent oil and gas exploration and production company, today reported the results of its annual external reserves report, prepared by Haas Petroleum Engineering Services, Inc. The reserves report documents proved reserves of 1,766 Million BOE (barrels of oil equivalent) as of April 30, 2007, compared with last year's 1,333 Million BOE. The corresponding NPV10 value (Net Present Value using a 10% annual discount factor) of these reserves is $44.1 Million compared to last year's value of $35.9 Million. The Company can as such report an increase in NPV10 value of 23% and an increase in proved reserves of 32%. The Company's proved reserves consist of 45% oil and 55% natural gas.
Peter Rosenthal, CEO commented: "I am pleased to see a good increase in the Company's proved reserves, as well as a reflection of the progress we are making focusing on our domestic assets. Our strategy is to further increase our domestic reserves through proving up our probable reserves, and increasing production by applying proven, best-practice techniques and technologies. With a clear focus and a strong team in place at Sonoran, we see good opportunities to add complementary projects and properties to our domestic portfolio."
Ralph Watkins, Sr. VP Operations commented: "I look forward to report progress over the next months as we bring more of our proved reserves into production."
About Sonoran Energy, Inc.
Sonoran Energy is a U.S.-based independent oil and gas company that explores, develops, and enhances the performance of high value oil and gas opportunities. With a focus on health, safety and the environment, we leverage the Company's innovative organizational alignment model with leading technical partners. For more information on the Company visit www.sonoranenergy.com
For more information contact:
Investor Relations
Taylor Rafferty
Dana Johnston
Tel: (212) 889-4350
Email:
[email protected]This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.
--------------------------------------------------------------------------------
Source: Sonoran Energy, Inc.
MACD staying above centerline !
Back above the 13-day and 50-day MA ,ready for some more movement north.
Stochastic way oversold (buy area), bouncing back north.
Technicals
Last Price Quote is:
8.84%above 13-day EMA
23.26%above 50-day EMA