SNRN.OB - Oil

[gmarc66]

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.

[gmarc66]

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

[gmarc66]

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

[gmarc66]

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

[vic666]

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. 

[gmarc66]

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

gl to u 2!

julia

[setravis]

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.

[setravis]

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

[setravis]

Made a nice Breakout from that Falling Wedge (reversal) Pattern,
with some outstanding follow through.
Indicators are looking good, MACD bouncing off center line.

[setravis]

Worth an updated look...very nice indeed.
Also the Double Bottom we didn't mention...
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

[setravis]

Keeps on a keeping on.......

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

[setravis]

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