Mississauga, ON -- (SBWire) -- 10/03/2017 --AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled "Can Budong Budong Be the Next Big Success for Richard Wadsworth and Sonoro Energy?"
Companies mentioned in this article include Sonoro Energy Ltd. (TSX-Venture:SNV).
Article Excerpt:
This past week, prices for Brent crude, the world's benchmark, reached their highest price since July 2015, supported largely by commitments from members of the Organization of the Petroleum Exporting Countries (OPEC) to curb output amid a global supply glut. The debate is back on as to the balancing of the market and where oil will go from here, with some experts, including Jodie Gunzberg, head of commodity and real asset indices at S&P Dow Jones Indices, of the opinion that $80-$85/barrel oil in the future is not out of the question.
On the global front, Indonesia is taking all measures to try and attract $200 billion in new investments in its energy sector over the next decade to revitalize what was once a thriving resource hub. The Energy of Mineral Resources Ministry has been hard at it, modifying its contract for oil and gas companies and working to simplify its complex regulatory regime in a bid to advance production back towards the 1.5 million barrels per day it was producing during its peak in the mid-1990s.
Most production today is coming from mature fields, but Calgary, Canada-based exploration company Sonoro Energy Ltd. (TSX-Venture:SNV) is hoping to be part of a change in the country to new discoveries. To be fair, it's not exactly new fields that Sonoro is aiming for. The seasoned and successful industry vets leading the company have their sights set on specific areas with a history of shallow successes of oil exploration—where huge oil seeps are viewed by some as the biggest and best ever documented in the country, yet still woefully underexplored.
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AllPennyStocks.com News: Can Budong Budong Be the Next Big Success for Richard Wadsworth and Sonoro Energy?