LOS ANGELES, July 9, 2003 (PRIMEZONE) -- Sonoran Energy, Inc. (OTCBB:SNRN) announced today that it will be featured in Value Stock's newsletter which can be viewed online at value-stock.com. Value-Stock.com is an online investment portal for undervalued and emerging growth companies.
Sonoran CEO John Punzo recently stated in a release proposing a stock dividend to the Board of Directors: "With a market cap of approximately $2.5 million I feel the company is extremely undervalued since many of our competitors, such as Tri-Valley (OTCBB: TRIL), are trading at a $70 million market cap, approximately. Sonoran is proud to be featured in Value Stock to build awareness of the progress of our acquisition program, which is aggressively moving forward."
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 allow the company to become a producer of 1000 to 1500 BOE per day (barrel oil equivalent) and 2500 to 5000 Mcf of gas. The principals of Longbow, LLC collectively have over 85 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.