Sonoro Energy Enters into a Strategic Alliance; Announces Management Changes
The company also entered into a Strategic Alliance Memorandum of Understanding with one of Indonesia's companies to develop oil and gas activities in Indonesia as joint partners (the "Joint Cooperation"). This strategic relationship is focused on the pursuit of activities related to the Budong-Budong project in West Sulawesi, Indonesia and also includes other conventional oil and gas opportunities in Sumatra, Indonesia. The Indonesian entity is engaged in a diversity of businesses including property development, plantation ownership as well as trading both domestically and internationally.