Sonoran Retains Financial Consulting Counsel Of Chairman and CEO of Integrity Securities
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Energy Editors/Business Editors
SEATTLE--(BUSINESS WIRE)--March 31, 2003--Sonoran Energy, Inc. (OTCBB:SNRN), is pleased to announce the appointment of Mr. Matthew Marcus, Chairman and CEO of Integrity Securities, as its Financial Consulting Counsel. Specializing in financial relations strategies for growth companies since 1995, Mr. Marcus is accredited with successful campaigns on behalf of public companies to add fundamental shareholder value and enhance market liquidity through a fully integrated approach to Wall Street awareness.
Integrity Securities is a NASD licensed Registered Investment Advisor and Registered Representative member of Synergy Investments clearing through Pershing, a division of the Bank of New York. Mr. Marcus currently was recently presented with the Magellan award for excellence in Financial Communications by, the Los Angeles Communications professionals (www.lacp.com). He has long-standing relationships with financial institutions such as Dean Witter, Citigroup subsidiary Salomon Smith Barney, Prudential Securities, Barron's, Investors Daily, Motley Fool, CBS Marketwatch, TheStreet.com, Smart Money, Fortune, CBS radio, and CNBC television to name a few. Visit http://www.integritysecurities.com .
John Punzo, President and Chief Executive Officer of Sonoran, stated, "A proactive campaign to strengthen our visibility in the investment community and communicate major events to shareholders. Our roll up of solid cash flowing oil and gas properties in the United States is now underway. We see the appointment of Mr. Marcus as an integral part of our overall program to enhance liquidity, distribute information and expedite growth."
Mr. Marcus of Integrity Securities, stated, " I am now working with Sonoran to increase awareness in the global financial community. Using a fully integrated approach to financial consulting, we look forward to exposing Sonoran to financial professionals, analysts, institutional investors, and mass financial media such as Barrons, CNBC Television, and CBS Radio."
Domestic U.S. Oil producers like Sonoran Energy, Inc. are positioned to significantly benefit from rising demand for U.S. domestic oil production in light of the brewing International oil production crisis due to war, strikes, and terrorist threats. Just this week, the Nigerian subsidiaries of Royal Dutch/Shell Group (NYSE: RD) (NYSE: SC), ChevronTexaco Corp. (NYSE: CVX) and TotalFinaElf (NYSE: TOT) halted production totalling 817,500 barrels a day, or about 40% of Nigeria's output of some 2 million b/d amid violence between rival ethnic groups, the Ijaws and Itsekiri, leading up to April 19 parliamentary and presidential elections. Militant Ijaws reportedly threatened to blow up multinational oil installations they said they had captured in retaliation for government military raids.
Additionally, Oil-well firefighters from Houston-based Boots & Coots International Well Control (AMEX: WEL) are traveling to southern Iraq to assess damage in the country's key Rumaila oil fields. The firefighting teams are looking at a timetable of 30 to 45 days to extinguish the fires and cap the wells. But one source said the timing will depend on "what's all there." The Pentagon has contacted a number of major oil industry service companies - among them Halliburton Co. (NYSE: HAL) , once run by Vice President Dick Cheney -- to repair any of Iraq's wells that are damaged and assess everything from wells to pipelines and pumping stations.
Venezuela's oil industry collapsed in December, when employees at state-owned Petroleos de Venezuela walked off the job, angry about changes in the company under the administration of President Hugo Chavez. By the height of the strike, 16,000 employees had walked out, and production shrank to 200,000 barrels a day, costing Venezuela $6 billion. The country had to import fuel to keep vehicles moving, and drivers waited days at gas stations. The strike, which failed to oust Chavez or call early elections, was strongest in the oil sector, though businesses around the country shut down.
ABOUT SONORAN ENERGY, INC.
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's goal is to be recognized as a promising junior oil and gas producer.
Sonoran Energy looks for opportunities with the following criteria: low cost, undervalued and a high rate of return. These projects must include close access to commercial distribution and modern application of oil and gas engineering technology. Management is targeting projects that represent substantial growth with minimum exposure and a low-cost entry. Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
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CONTACT: Sonoran Energy
John Punzo, 866/599-7676
info@sonoranenergy.com
or
Integrity Securities LLC, City of Industry
Matthew Marcus, 626/961-5694
www.integritysecurities.com
KEYWORD: WASHINGTON NEW YORK INTERNATIONAL CANADA
INDUSTRY KEYWORD: BANKING ENERGY OIL/GAS CONFERENCE CALLS
SOURCE: Sonoran Energy