LOS ANGELES, June 20, 2003 (PRIMEZONE) -- Sonoran Energy, Inc. (OTCBB:SNRN) announced today that it will be featured in a television commercial on CNBC-TV beginning next week. CNBC is the recognized global leader in business news, providing real-time financial market coverage and business information to more than 175 million homes worldwide, including more than 86 million households in the United States and Canada.
In addition to closing major acquisitions and discovering new reserves, Sonoran has significantly expanded corporate brand awareness. It has joined the Independent Petroleum Association, received updated Research Report coverage on Yahoo! Finance, and been featured on CCBN Street Events, CEOCast, MacReport and now CNBC Television. Sonoran CEO John Punzo stated, "We are very excited about the significant progress made by our strategic partnership with Longbow, LLC and our acquisition program is seeing very positive results. The stock price has increased substantially and our daily trading volume is up. We are considering declaring a special stock dividend as a reward to our loyal shareholders, which is right in line with our recently announced strategic initiatives."
About Sonoran Energy
Sonoran Energy's primary objective is to identify, acquire and develop working interest percentages in smaller, underdeveloped oil and gas projects that do not meet the minimum requirements of major oil and gas corporations. Sonoran Energy is developing a reputation as a promising junior oil and gas producer. Through its partnership with Longbow LLC the Company intends to make acquisitions that will, over a 12 to 24 month period, allow the company to become a producer of 1000 to 1500 BOE per day (barrel oil equivalent) and 2500 to 5000 Mcf of gas.
About Longbow LLC
The principals of Longbow, LLC collectively have over eighty-five years of diversified oil and gas experience with both majors and independent companies including Chevron, Mobil, Arco Oil & Gas and the U.S. Department of Energy in the largest oil and gas producing basins in North America. Formed in November 2001, Longbow is Archer Exploration, Inc.'s operating partner as they pursue oil and gas acquisition, exploration, and exploitation opportunities in the Western United States.
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.