The Gecko Investor Group helped finance Sonoro Energy back in April, 2017. With that money, Sonoro is now half-way through its drilling of the first well on the onshore and shallow target Budong Budong license in Indonesia.
In today’s interview, CEO Richard Wadsworth talks about the operations, how great Indonesia is to work in and what the future might hold for Sonoro.
If we assume that the drilling of the first well is a success, Sonoro intends to drill another 2-3 wells and simultaneously put all wells into production. Assuming 200-300 bpd for each well, Sonoro could very soon be producing ~1,000 bpd sometime in H1, 2018.
Sonoro Energy could in such a scenario, just months from now, have a free cash flow on a yearly basis equalling today’s Mcap, and perhaps even more than that. Assuming drill success, Sonoro Energy has a multi-bagger potential in the coming weeks and months.
Members of Gecko Research own shares in Sonoro, both through the latest financing but also through additional buying in the open market. We are obviously biased. Do your own due diligence.