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02.05.2011
Aroway Energy Inc. Announces Operations Update
Aroway Energy Inc. Announces Operations Update
Calgary, Alberta, May 2, 2011 – AROWAY ENERGY INC. (TSX-V:ARW; PINK:ARWJF) (www.arowayenergy.com) (the “Company”) The Company is pleased to announce the following update on its operations in the Peace River Arch area of Alberta.
The company's first well of the 2011 exploration program has been drilled, completed and tested and will begin producing from the Leduc formation in approximately three weeks. Production tie-in operations on this well were suspended as a result of “spring break-up” weather conditions commonly experienced at this time of the year in the area. The tie in construction will immediately commence once “spring break-up” has come to an end. The company is pleased to report that the regulatory approvals are all in place and the equipment, pipe and crews are prepared. Testing on the Company’s second well of the 2011 drill program will also continue when road bans in the area are lifted and results will be released at that time.
Chris Cooper, President commented "Spring Break-up puts our industry at an operations standstill for a month or so each year. We look forward to continued positive results when operations begin again in a couple of weeks."
Upon completion of the tie-in to its joint venture partner's pipeline and facilities, stabilized production numbers for this first well of the 2011 drill program will be released.
These are the first two of a possible six to eight wells planned for the joint venture partnership's 2011 drill program. All of the planned exploration and/or development wells to be drilled are defined by 3-D seismic, have multi-zone prospectivity and are close to infrastructure.
About Aroway Energy Inc.
Aroway Energy Inc. is a Western Canadian junior oil and gas production and exploration company participating in “non-operated” Peace River Arch oil and gas exploration prospects, through a joint venture partnership. Aroway is currently producing approximately 225 boe/day of oil, gas liquids and gas net to Aroway.
ON BEHALF OF AROWAY ENERGY INC.
“Chris Cooper”
President
For further information, please call:
Aroway Energy Inc.:
Judy-Ann Pottinger
Telephone: (604) 304-4090
Cell: (604) 617-5290
Fax: (604) 909-2679
E-mail: jpottinger@arowayenergy.com
Investor Cubed Inc.:
Telephone: (647) 258-3311,
Toll Free: (888) 258-3323
Fax: (416) 363-7977
E-mail: info@investor3.ca
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. BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
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Calgary, Alberta, May 2, 2011 – AROWAY ENERGY INC. (TSX-V:ARW; PINK:ARWJF) (www.arowayenergy.com) (the “Company”) The Company is pleased to announce the following update on its operations in the Peace River Arch area of Alberta.
The company's first well of the 2011 exploration program has been drilled, completed and tested and will begin producing from the Leduc formation in approximately three weeks. Production tie-in operations on this well were suspended as a result of “spring break-up” weather conditions commonly experienced at this time of the year in the area. The tie in construction will immediately commence once “spring break-up” has come to an end. The company is pleased to report that the regulatory approvals are all in place and the equipment, pipe and crews are prepared. Testing on the Company’s second well of the 2011 drill program will also continue when road bans in the area are lifted and results will be released at that time.
Chris Cooper, President commented "Spring Break-up puts our industry at an operations standstill for a month or so each year. We look forward to continued positive results when operations begin again in a couple of weeks."
Upon completion of the tie-in to its joint venture partner's pipeline and facilities, stabilized production numbers for this first well of the 2011 drill program will be released.
These are the first two of a possible six to eight wells planned for the joint venture partnership's 2011 drill program. All of the planned exploration and/or development wells to be drilled are defined by 3-D seismic, have multi-zone prospectivity and are close to infrastructure.
About Aroway Energy Inc.
Aroway Energy Inc. is a Western Canadian junior oil and gas production and exploration company participating in “non-operated” Peace River Arch oil and gas exploration prospects, through a joint venture partnership. Aroway is currently producing approximately 225 boe/day of oil, gas liquids and gas net to Aroway.
ON BEHALF OF AROWAY ENERGY INC.
“Chris Cooper”
President
For further information, please call:
Aroway Energy Inc.:
Judy-Ann Pottinger
Telephone: (604) 304-4090
Cell: (604) 617-5290
Fax: (604) 909-2679
E-mail: jpottinger@arowayenergy.com
Investor Cubed Inc.:
Telephone: (647) 258-3311,
Toll Free: (888) 258-3323
Fax: (416) 363-7977
E-mail: info@investor3.ca
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. BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA04268T1057">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA04268T1057</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.