Aroway Energy Inc. Begins Drilling at Kirkpatrick Lake
05 December 2013 - 12:30AM
Marketwired
Aroway Energy Inc. Begins Drilling at Kirkpatrick Lake
CALGARY, ALBERTA--(Marketwired - Dec 4, 2013) - AROWAY ENERGY
INC. (TSX-VENTURE:ARW)(OTCQX:ARWJF) (www.arowayenergy.com) (the
"Company") announces that it has commenced operations on a new
development oil well on its 100% owned and operated Kirkpatrick
Lake property in Central Alberta. The new development oil well will
be drilled to an approximate depth of 1,400 meters into the
Ellerslie formation. This new well is classified as a development
well, and offsets Aroway's original discovery well which went into
production under a Special MRL (Maximum Rate Limitation) in July
2013 at a rate of 240 bbls per day. The new well will be tied-in to
existing infrastructure approximately 200 meters away immediately
upon completion and a short term production test.
Chris Cooper, President & CEO of Aroway Energy, commented,
"Provided this well is successful, the anticipated increase in oil
production from this well will bolster our current production,
strengthen our cash flow and continue to build on our profitability
as an operating oil Company."
ABOUT AROWAY ENERGY INC.
Aroway Energy Inc. is a western Canadian junior oil production
and exploration company participating in oil development &
exploration prospects in Alberta and Saskatchewan. Aroway operates
and owns a highly economic heavy oil producing property in West
Hazel, Saskatchewan and has a 100% working interest in a light oil
producing property in Kirkpatrick Lake in Central Alberta. Through
a joint venture partnership, Aroway has a 50% working interest in
the Peace River Arch of Northern Alberta with 90 sections (57,600
acres) of land with 3D seismic coverage on the majority of the land
base, with the area infrastructure controlled and owned by Aroway's
Joint Venture Partner.
ON BEHALF OF AROWAY ENERGY INC.
Chris Cooper, President & CEO
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. A conversion ratio of 1 barrel of oil
equivalent ("boe"); 6 Mcf has been used, which is based on an
energy equivalency conversion method primarily applicable at the
burner tip and does not necessarily represent a value equivalency
at the wellhead. Boes may be misleading, particularly if used in
isolation.
Aroway Energy Inc.Chris CooperPresident & CEOToll Free:
1-855-427-6929cooper@arowayenergy.comAroway Energy Inc.Judy-Ann
PottingerToll Free:
1-855-427-6929jpottinger@arowayenergy.comwww.arowayenergy.com
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