Corporate Update

August 29, 2017

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Forward-LookingStatementsCertainstatementsinthispresenta-onmaycons-tute“forward-lookinginforma-on”(“forward-lookingstatements”)withinthemeaningofapplicableCanadiansecuri-eslaws.Forward-lookingstatementsareo@en,butnotalways,iden-fiedbytheuseofwordssuchas“an-cipate”,“es-mate”,“poten-al”,“could”,“ongoing”,“prospec-ve”,“expected”andsimilarwordssugges-ngfutureoutcomes.Readersarecau-onedthat,bytheirnature,forward-lookingstatementsarebasedoncurrentexpecta-onsregardingfutureeventsthatinvolveanumberofassump-ons,knownandunknownrisks,anduncertain-es.Actualresults,performanceorachievementsoftheCompany,ortheindustry,mayvarymateriallyfromwhatisexpressedorimpliedbysuchforward-lookingstatements.Therefore,readersshouldnotplaceunduerelianceonforward-lookingstatements.Readersarealsocau-onedthatpoten-alproduc-onratesmaynotbeindica-veoflong-termperformanceoroful-materecovery.TheCompanywillupdateitsassump-onstoreflectneweventsorcircumstanceswhenitisrequired,bylaw,todoso.Theforward-lookingstatementsinthispresenta-onarebasedonmanagement’scurrentexpecta-onsandassump-onsthatinvolveanumberofrisksanduncertain-es.Theserisksanduncertain-esinclude,butarenotlimitedto:(1)risksassociatedwithobtaining,maintainingandthe-mingofreceiptofregulatoryapprovals,permits,andlicenses;(2)uncertain-esrelatedtofinancingoftheCompany’sexplora-onac-vi-esandcon-nuedopera-onsthroughaccesstocapitalmarkets;(3)theriskofvola-leglobaleconomiccondi-ons;(4)con-nuedpoli-calstability;(5)con-nuedsupportfromthelocalcommuni-es,(6)opera-onalrisksindevelopment,explora-onandproduc-ondelaysorchangesinplanswithrespecttoexplora-onordevelopmentprojectsorcapitalexpenditures;(7)theuncertaintyofresourcees-mates,geologicalinterpreta-ons,es-matesandprojec-onsinrela-ontoproduc-on,costsandexpenses,andhealth,safetyandenvironmentalrisks;(8)thecon-nuedabilitytoobtainqualifiedstaffandequipmentina-melyandcostefficientmanner;(9)theriskofcommoditypriceandforeignexchangeratefluctua-ons;and(10)risksassociatedwiththeimplementa-onofnewtechnology.

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Summary:SNVonTSX-V§  Sharesissued:~177million

§  LastShareClosingPriceC$0.04(Aug30,2017)§  MarketCapitaliza-onof~C$7.08mm

IndonesianBudongBudongLicense§  Sonoro,throughitssubsidiaryStockbridge

BudongBudongBV,hasaworkinginterestof71.5%

§  ExtensionoflicensetoJan.15,2018

§  PlannedspudofwellSeptember2017§  Appraisalwellwith16MMbblsofprospec-verecoverableresources

§  Successopensupanen-renewbasinonW.Sulawesiwithseveralotherlargerstructuresiden-fied.

Seekingtoacquireproducing/developmentopportuni-esinIndonesia

54,866,061

42,610,523

74,267,567

5,570,326

Mgmt & Board

Friends and Family

Shareholders NBPP 2017

Shareholders Prior

24.0%

30.9%

41.9%

3.1%

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§  Oneoftheworld’sfastest-developingeconomies§  Demandforenergyisoutstrippingsupply§  Oilandgasfiscalregimeisverywellestablished§  Provenandmatureoilandgasbasins§  Indonesiangovernmentisseekingtoamractmore

investmentintoenergyinthefaceofdecliningoilandgasproduc-on

§  Largepoolofprofessionalsandskillstodrawuponinouroilandgasindustry

§  SonorohasanexperiencedteamwithatrackrecordinIndonesiaandtheregion

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ChrisAtkinson(Chairman)•  Geologist,30yearsinterna-onal:Shell,ARCO,V.P.ARCOEurope/N.Africa•  MajorsuccessesinChina,NewZealand,IndonesiaandtheUnitedKingdom•  Trackrecordofbuildingandfinancingstart-upexplora-onandproduc-onventures•  SEAsia,theUK,CanadaandtheCaribbean.

DavidWinter(Director)•  Geologist,over27yearsInterna-onalOil:HorizonPetroleum,CalValley,AEC,CdnOxy,SunOil,BP•  Europe,SEAsia,N.America,S.America,Africa•  CurrentlyCEOandPresidentofHorizonPetroleumLtd.;Founder&DirectorofCanacolEnergy•  FormerlywithCdnOccidentalinIndonesia

DavidRobinson(Director)•  Geologist,25yearsInterna-onal:RadCan,ArakisEnergy,ForumEnergy,andBenchmark•  Colombia,Philippines,Tunisia,Egypt,Indonesia,Turkmenistan,Sudan,PNG,Oman•  CurrentlyVPBusinessDevelopmentofHorizonPetroleumPlc;•  Hasbeeninvolvedinraisingover$300mmacrossvariousventures

RyszardKurr(Director)•  Over30yearsinterna-onalcommercialandfinacialexperienceinOilandGas•  MostrecentlywithNobleandGlencoreandformerlywithBPandVitol•  MajorityofexperiencelivingandworkinginSEAsia,EuropeandAfrica•  Currentlyestablishingandinves-nginstartupandgrowthenergycompanies

RichardWadsworth BillMarpe

DirectorandChiefExecu-veOfficer DirectorandGMIndonesia (seemanagement) (seemanagement)

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ExperiencedInternaFonal&SEAsiaTeamwithsuccessfultrackrecord

Richard WadsworthChief Executive Officer

: Engineer,25+yearsinterna-onal:Premier,AngloAlbanian,Koch,Syncrude&EssoCo-FounderBankersPetroleum,President&COO;Increasedproduc-onto7,000bopd;2Preservesof100+mmbblWhileatAngloAlbanianPetroleum(PremierOil),drilledthefirsttwentywellinAlbaniainover20yearsDevelopednumerousoilandgasfieldsforKochexplora-oninW.Canadaduringhisearlycareer

Bill Marpe General Manager Jakarta, Indonesia

: Lawyer(TX),35yearsinterna-onal:UnionTexasPetroleum,TransworldOilLtd.PresidentofthreeProduc-onSharingCompaniesinIndonesia.GeneralManagerofP.T.PetconBorneo:PalangkarayaBlocksoldtoConoco-PhillipsFounderandPresidentofStockbridgeOil&GasLtd

Dean Callaway Chief Financial Officer

: Formerexecu-vewithBukitEnergy,GallicEnergy,TGWorld,Enbridge,TransAlta,andMerrylLynchCharteredProfessionalAccount,BachelorCommercefromDalhousewithMBAfromNijenrodeUniversityExperienceinIndonesia,Philippines,France,NigerandN.America

Hening Sugiatno Geoscience

: Geologist,ColoradoSchoolofMines,MSc;20yearsOilE&PexperienceinIndonesia.ManagedseveralPSCblocks:W.Kampar,PandalianField,Sumatera.DevelopedplayconceptsleadingtoawardofPalangkarayaPSC,Kalimantan

Alan Rachman Government Liaison)

: Engineer,>30yearsupstreamanddownstreamopera-onsinIndonesia.PTPetcon,HarvestNaturalResourcesandOrmatInterna-onal.StartedhiscareerwithSchlumberger.Regularpar-cipantinIndonesiaGovernmentandandregulatoryconsulta-vepanelsfocusingonrenewableenergy.

L to R:

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TheSonoroteamhasaproventrackrecordofincuba-ngstartups.

Company Initial

Investment Exit/IPO Value

Extracted

PDA/Serica 2000 2004 c15x initial $*

Mitra Energy 2006 2008 c10x initial $

TopOil 2006 2007 c25x initial $

MPX 2006 2010-11 c5x initial $ ZinMac 2007 2010 c8x initial $ GFP 2008 2010 c10x initial $

Transition/Vela 2011 2013 c20x initial $

Bankers Petroleum 2004 2016 c$500mm+

Lookinareas…withCHARGE!§  Wheresource“isagiven”§  Liveseepsexist,havebeendescribedoroilhasflowed

previously“petroleumsystemapproach”

Veni,Vidi,VerF…whereotherscame,lookedandleQ!§  Appliedconven-onalwisdom

§  Le@significantsunkcostpoolsWherethereisdocumented“historic”success§  Lowersrisk§  NewtechnologiescanbeappliedWherewellsareREPEATABLE(likearesourceplay)§  Becomesmanufacturingeffort,bringingdowncosts§  Poten-alforlargeregional,low-dippinch-outs

Whereweapplyouronshoreexperiencetoapproachdifferently§  Lowercostofexplora-onandappraisal§  Applytherighttechnology§  Fieldswithhighcostrecoveryasothershavefailed

(commercially),andareleavingorhavele@

…RevisitSuccess!

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TopographyDoda&surroundingareas

Shallowwellsdrilledwithsteam-poweredcabletoolrigtomaximumdepthof250m(1898to1901):Allwellsreportedsignificantoilandgasshowswithseveralblow-outs

DutchGeologicalMap(ca.1901)Seeps,Saradu&Timontewells

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DodaExplora-eMaatschappij(DEM),LariangBasin:1898-1927§  DodaArea,abundantseeps:4shallowwellsto~250m§  Oilandgascon-nuestoleakfromwellheadstoday§  Nogeologicallinktodrilling§  Reportedsuccessfulflowsinshallowwellsadjacenttoseeps

BataafschePetroleumMaatschappij,BPM(Shell):1927-1938§  Geologicalfieldreconnaissanceandprospectmappingiden-fied

mul-plesurfacean-clines

Chevron&Gulf;BP:1970-1980§  Fieldworkandlimited2D(314km)jungleseismic§  Stra-graphictests:Karama-1S(2,000m)&Lariang-1S(1,089m)§  BPfarmed-inasoperator(1974),drilledTike-1(1979)to2,895m

Tately/Harvest:2007-2015,EocenePlayConcept§  2Dseismicmisinterpreted;2deepwells(LG-1,KD-1ST)totestEocene§  EocenesandsnotpenetratedinLG-1,KD-1ST

Sonoro:2016-2017–Torevisitsuccessanddrillshallowan-clines!

§  Anac-veshallowhydrocarbonsystem§  Simple,lower-riskexplora-onandappraisal§  Shallowdrillingtargets(400mto600m)

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DODAAREA

KARAMA

LARIANG

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Lariang:RevisitSuccess,1900sDodaArea§  100yearslate!§  “Stepout”totheLG-1well

§  LG-2isanup-dip“appraisal”§  Favourablethickeningseismiccharacter§  Willfacilitateafast-trackPOD

§  Simple,verylowriskexplora-on§  Shallowdrillingtargets(~500m)

ShallowSurfaceAn-clinesandOilSeeps§  An-clinalTheory…Revisited!§  “Oilseeps”successfullytesteddespite

primi-ve1900’stechnology§  RecentLG-1well

§  Plio-MioceneLisuFm.Sandspenetratedw/goodshows

§  Loca-onssub-op-malforPlio-MiocenegivendeeperEocenetargets

§  Newop-mizedMioceneloca-ons§  LG-2,MJN-1

DodaArea

LG-2LG-1Well

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T.D.500m

LG-1(discovery)LG-2(appraisal)

Seismicsec-onthroughLG-1,LG-2proposed§  LG-2topenetrateanuntestedreservoirsec-on§  Significantthickeningup-dipfromLG-1§  SeveralunitsshowthickeningtowardsLG-2§  Uppermostunit(yellow)maybeanewreservoir§  Thickening:notincludedinresourcees-mate

SeismicLine1990BP-09

DodaSand

Fairway(specula-ve)

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Exploration License Term

§  71.5% Stockbridge §  10 years; received extension to Jan. 15, 2018 §  Will convert to a Production License on successful drill of LG-2 and submission of POD

Production License Term

§  Additional 20 years following relinquishments; expires January 15, 2038

Relinquishments §  Now down to 20% of original area, 1,099 sq. km remaining

FTP §  10% to the government

Cost Recovery §  Cost recovery (100% to the contractor, unless the government has participated) Not limited until all approved costs have been recouped; CR >US$80 million (unaudited)

Production Split §  Oil: 37.5% to Government and 62.5% to Contractor (35% after tax) §  Gas: 28.57% to Government and ~71.43% to Contractor (40% after tax)

DMO §  25% of contractor share sold at 25% of benchmark price (holiday for first 5 years)

Income & Distribution Tax

§  44%

Production Bonuses §  $250,000 @ 25 MMBoe; $375,000 @ 50 MMBoe; and $500,000 @ 75 MMBoe

Run Rate Production Takeaway

§  Once all cost recovery is expended, contractor after tax and FTP yield is 31.50%

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Prospective Risked Resources (Sonoro Net Technically Recoverable) in the Budong Budong PSC area

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Leverageteamtrackrecord,experienceandtechnologytobuildasignificantbalancedporyolioofhigh-qualityoilandgasassetsinonshoresoutheastAsiaDeveloplow-costonshoredevelopmentrepe--vemodel

•  BudongBudong(BB)Sulawesi,shallow16MMbblpoten-aldevelopment•  Addi-onallargerstructuresinbasiniden-fiedtopursuefollowingBBsuccess•  Repeatthisprocess,alongwithtechnicalonshoreexper-se,tootherPSC’s

Focusedacquisi-onsofsoutheastAsianporyolioofoilandgasassets

•  Exis-ngonshoreoilandgasproduc-onwithupsideopportuni-es•  Near-termcommercialdevelopmentprojects

•  NumerouscompaniesinSEAsiainfinancialdifficultyandunabletomovediscoveriesforward,duetocapitalrestraints•  Lowriskasdiscovered,neartermproduc-onandcashflow•  PrivatelocalcompaniesandIOC’slookingtogainliquidityorexitrespec-vely

Addi-onalexplora-onopportuni-esoncecompany’sproduc-onandcashflowareestablished.Theseexplora-onopportuni-esbringingsignificantmoreupside,butmoreinherentearlyriskGainoffshoreexperienceinmaterialprojectsthroughsmallernon-operatedinterestsU-lizeacquiredproducingcashflowassetstoleverageandsustainvalueaddingexplora-onanddiscoveriesassecondphase

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LG-1Up-dipLeaseSite§  Leaseacquiredandconstructed

§  Storagelogis-cyardatoriginalwellestablished

§  Teamandsecurityinplace

DrillRig§  OriginalcontractorunabletosecureSKPIcer-fica-on

§  Companyterminatescontract

§  NewcontractwithPTAdvancedServicesIndonesiaestablished(“ASI”)

§  Fit-for-purpose400HPhydrauliccorerigwithASI

§  Allcer-fica-onsinplace

§  ExpectedtobemobilisedandspuddingmidSeptember

OtherServices§  Allotherdrillingservicesofferscontractedanddeliveredon-me

§  Equipmentandotherservices(logging,cemen-ng,casing,etc…)mobilisedtosite

RigMobiliza-onandSpud§  Expectedmid-September2017

§  AboveassumesnoweatherdelaysandapprovalfromSKKMGAStospud

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1000m

MJN-1(Prospect)

Dodaregionalcontext:Recentwells,seismicandselectedtopographiclinears MadjeneStructure,BP:BasedonBPMmappingfrom1933

DodaSAR

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KARAMABASIN

§  Severalshallowprospects(MJN)areknownintheLariangBasin§  However,alargeshallowlead(1,000m)hasrecentlybeeniden-fiedintheKaramaarea§  Approximately15kmx3km;oilandgasseepinacrestalposi-on§  Reconnaissancemappingonly(tobefurtherevaluated)

PanenBetulLead

THANK YOU!

Contact: RichardWadsworth,CEOTel:+1403262-3252informaFon@sonoroenergy.com

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