Sonde Resources Corp. release of its financial and operating results for the year ended December 31, 2013
Sonde Resources Corp. (“Sonde” or the “Company”) (TSXV:SOQ) (NYSE MKT: SOQ) announced today the release of its financial and operating results for the year ended December 31, 2013.
Message to Shareholders from Toufic Nassif, President and Chief Executive Officer
“Overall, the events of 2013 continued to solidify Sonde’s position in North Africa and build toward realizing the potential of the Joint Oil Block. We are particularly encouraged by the partnership that Sonde has developed with Joint Oil, which forms the foundation for long term value for both Joint Oil and Sonde’s shareholders.
Sonde is now a focused and streamlined North Africa pure exploration and development play with a clearly defined objective – the exploration and development of the Joint Oil Block. The divestiture of substantially all of the Company’s Western Canadian assets has provided Sonde with the initial capital and focus to advance the preparation for the drilling of Fisal, to further define the Hadaf exploration prospect, to actively pursue a strategic partner to develop the significant Zarat field and to ultimately realize the exploration potential of the Joint Oil Block.
During the fourth quarter of 2013, Sonde completed the acquisition of 200 square kilometers of 3D seismic covering the Hadaf prospect in Libyan waters. The data is currently being processed and we expect to have it completed by mid-April 2014. Interpretation of the processed data will commence immediately thereafter.
We look forward to drilling the Fisal-1 exploration well during 2014 to further de-risk the Joint Oil Block exploration plays and to provide a value proposition to our shareholders and potential partners. While we continue to face a number of challenges and risks, we strongly believe that the combination of the Zarat development and the world class opportunities presented by the Fisal, Hadaf and Siraj exploration prospects will attract the interest of a partner, which will in turn provide greater value to Sonde’s shareholders.”