Sonoran Energy, Inc. (OTCBB:SNRN) announced today that the Company will be closing a $7 to $10 million private equity placement over the next few weeks. Sonoran Energy had originally set a $7 to 10 million target to fund the Company's field development operations at its current assets in the U.S., and to support its projects in the Middle East. The financing round consists of several private placements by investors and institutions of which the largest single investment has been $2,500,000.
Looks like Sonoran Energy is on its yearly run. Maybe they will stay above 1$ this time. Anyhow just thought I would point out their recent share increase as other oil stocks fall.
This is not investment advice!