Aroway Energy Inc. Commences Summer Drill Program
CALGARY, ALBERTA, Jun 26, 2012 (Menafn - MARKETWIRE via COMTEX) --AROWAY ENERGY INC. (otcqx:ARWJF)(www.arowayenergy.com) (the "Company") is pleased to announce adrilling rig has been mobilized to the first location of the summerdrill program and drilling has commenced.
The Company and its Joint Venture Partner plan to drill up to eight(8) oil wells as part of a two stage drill program. Each stage willconsist of four (4) consecutive vertical wells targeting 3Dseismically defined Leduc and Triassic prospects. Drilling andsubsequent testing of the first four (4) wells will beginimmediately. Stage 2 of the drill program will begin after testing ofthe first four (4) wells.
Chris Cooper, President & CEO of Aroway Energy commented, "The longwait for road bans to be lifted is finally over and we have puttogether an excellent drill program to carry us through the fall. Ourextensive 3D seismic has provided strategic data for us in thedevelopment of our upcoming drill program."
Results of the drill program will be released as they becomeavailable.
ABOUT AROWAY ENERGY INC.
Aroway Energy Inc. is a Western Canadian junior oil and gasproduction and exploration company participating in oil explorationprospects, through a joint venture partnership. Aroway and itsPartner have assembled an impressive land package of 121 sections(77,440 acres) with 3D seismic coverage over 75% of its lands, allwithin its core area, the Peace River Arch. All of the Company'sexploration and development targets are in close proximity to tie-in,gathering and plant infrastructure, controlled and owned by Aroway'sJoint Venture Partner. Aroway is currently producing approximately650 boe/d (90% oil) and has an additional 200 boe/d of shut innatural gas. Aroway expects to exit 2012 with total production ofapproximately 1200 boe/d.
ON BEHALF OF AROWAY ENERGY INC.
Chris Cooper, President & CEO
A conversion ratio of 1 barrel of oil equivalent ("boe"); 6 Mcf hasbeen used, which is based on an energy equivalency conversion methodprimarily applicable at the burner tip and does not necessarilyrepresent a value equivalency at the wellhead. Boes may bemisleading, particularly if used in isolation.
Contacts:
Aroway Energy Inc.
Chris Cooper
President& CEO
Toll Free: 1-855-427-6929
cooper@arowayenergy.com
Aroway Energy Inc.
Judy-Ann Pottinger
Toll Free: 1-855-427-6929
jpottinger@arowayenergy.com
www.arowayenergy.com
Investor Cubed Inc.
Toll Free: (888) 258-3323
info@investor3.ca
SOURCE: Aroway Energy Inc.
mailto:cooper@arowayenergy.com
mailto:jpottinger@arowayenergy.com
http://www.arowayenergy.com
mailto:info@investor3.ca
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