April 25, 2011 / 10:28 AM / in 6 years

UPDATE 1-Sonoro Energy gets permit to begin ops at Iraq project

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April 25 (Reuters) - Sonoro Energy , a Canadian oil explorer, said it has got permission to begin operations at its asphalt project in Iraq’s Salah ad Din province.

An investment permit, granted by the governorate of Salah ad Din, also allows Sonoro to import equipment and personnel for the development of the heavy oil project.

The permit sets Apr. 14 as the commencement date of Sonoro’s five-year exploration period, the company said in a statement.

Calgary-based Sonoro, which is focused on developing its heavy oil de-asphalting and upgrading process, plans to drill at least three wells in Salah ad Din by the third quarter of 2011.

“The fact that we have identified four distinct prospects in different areas of the province in a short period of time provides confidence in the large resource potential within the province,” said Chief Executive Richard Wadsworth.

Shares of Sonoro closed at 28 Canadian cents on Thursday on the Toronto Venture Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Joyjeet Das)

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