Sonoran Energy, Inc.
OTC Bulletin Board : SNRN

Sonoran Energy, Inc.

March 24, 2006 10:37 ET

Sonoran Energy's Third Quarter Results Highlight Continued Operational and Financial Progress

PHOENIX, ARIZONA--(CCNMatthews - March 24, 2006) - Sonoran Energy, Inc. (OTCBB:SNRN), the fast growing international oil and gas exploration and production company, today reported results for the fiscal third quarter and nine months ended January 31, 2006. Revenues for the nine months were $1.4 million, compared with just $278,000 for the same period last year. Sonoran's strong third quarter performance was driven in a large part, by an improvement in its North American field operations. This, combined with a healthy cash position and the closing of the Baron Oil acquisition, has dramatically improved Sonoran's balance sheet, which shows an increase in total assets from $10 to $28 million from the previous quarter.

Peter Rosenthal, President and CEO of Sonoran Energy, said, "While advancing our strategy of aligning with world class industry partners such as AGR, RLG International and Welltec, we are also beginning to see the positive results of the programs we have initiated over the past several months to develop our North American oil and gas assets. Our overall revenue performance for the quarter was in line with expectations and our strategic and tactical initiatives are proceeding apace."

Commenting on the Company's financial position, Jack Hodgson, interim Chief Financial Officer, said, "We are pleased to report a cash position of $6.3 million at the end of the third quarter. Our oil and gas operations are now generating cash, helping to finance many of our North American and international growth initiatives."

"We expect that Sonoran Energy will continue to show a strong increase in revenues in the coming quarters. We are excited about the momentum we now have in 2006," Rosenthal added.

Sonoran Energy's financial filings are available through the SEC's forms and filings website at www.sec.gov/edgar.shtml.

About Sonoran Energy, Inc.

Sonoran Energy is a US-based independent oil and gas company that is building a diversified portfolio of high value assets in North America, North Africa, the Middle East, and the Caspian region. Sonoran Energy explores, develops, and enhances the performance of high value oil and gas opportunities. With a focus on health, safety and the environment, we leverage the Company's innovative organizational alignment model with leading technical partners. www.sonoranenergy.com.

This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.

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