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02.02.2012
AROWAY ENERGY INC. TO INCREASE 3D SEISMIC COVERAGE BY 75%
AROWAY ENERGY INC. TO INCREASE 3D SEISMIC COVERAGE BY 75%
Calgary, Alberta, February 2, 2012 – AROWAY ENERGY INC. (TSX-V: ARW) (PINK: ARWJF) (www.arowayenergy.com) (the “Company”) is pleased to report that Aroway and its Joint Venture Partner have commenced field work on an approximate 55 square kilometer 3D seismic program. The 3D data acquisition will shoot over a portion of company lands recently acquired at crown land sales and lands acquired through acquisitions. The 3D program within the Company’s core area will image Triassic and deeper Leduc structures typically evident along the Peace River arch. The company expects the 3D data will identify numerous new Leduc features that will significantly increase the Partnerships inventory of drill prospects.
Chris Cooper, President & CEO commented, “This 55 square kilometer 3D seismic program is a tremendous undertaking for Aroway and our Joint Venture Partner. The 3D program will increase our seismic coverage on our 101 sections of land in our core area by 75%. Interpretation of the new seismic data will significantly increase our drilling prospect inventory and reduce our exploration risk as we execute on our 2012 drill program.”
Further to the Company’s news release of December 14, 2011, Aroway anticipated having production results by the end of January 2012. As a result of the recent two week cold weather snap in the Company’s core area, the company has been delayed in certain completion operations on its new wells. The Company will release results once it has obtained reliable information on the new wells.
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. The Joint Venture Partnership gives Aroway a rolling option on 101 sections of land. The Company is currently producing approximately 669 boe/day net to Aroway.
ON BEHALF OF AROWAY ENERGY INC.
(signed) “Chris Cooper”
President & CEO
For further information, please contact:
Aroway Energy Inc.: Aroway Energy Inc.: Investor Cubed Inc.:
Chris Cooper, President & CEO Judy-Ann Pottinger Toll Free: (888) 258-3323
Toll Free: 1-855-427-6929 Toll Free: 1-855-427-6929 E-mail: info@investor3.ca
E-mail: cooper@arowayenergy.com E-mail: jpottinger@arowayenergy.com
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:
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Calgary, Alberta, February 2, 2012 – AROWAY ENERGY INC. (TSX-V: ARW) (PINK: ARWJF) (www.arowayenergy.com) (the “Company”) is pleased to report that Aroway and its Joint Venture Partner have commenced field work on an approximate 55 square kilometer 3D seismic program. The 3D data acquisition will shoot over a portion of company lands recently acquired at crown land sales and lands acquired through acquisitions. The 3D program within the Company’s core area will image Triassic and deeper Leduc structures typically evident along the Peace River arch. The company expects the 3D data will identify numerous new Leduc features that will significantly increase the Partnerships inventory of drill prospects.
Chris Cooper, President & CEO commented, “This 55 square kilometer 3D seismic program is a tremendous undertaking for Aroway and our Joint Venture Partner. The 3D program will increase our seismic coverage on our 101 sections of land in our core area by 75%. Interpretation of the new seismic data will significantly increase our drilling prospect inventory and reduce our exploration risk as we execute on our 2012 drill program.”
Further to the Company’s news release of December 14, 2011, Aroway anticipated having production results by the end of January 2012. As a result of the recent two week cold weather snap in the Company’s core area, the company has been delayed in certain completion operations on its new wells. The Company will release results once it has obtained reliable information on the new wells.
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. The Joint Venture Partnership gives Aroway a rolling option on 101 sections of land. The Company is currently producing approximately 669 boe/day net to Aroway.
ON BEHALF OF AROWAY ENERGY INC.
(signed) “Chris Cooper”
President & CEO
For further information, please contact:
Aroway Energy Inc.: Aroway Energy Inc.: Investor Cubed Inc.:
Chris Cooper, President & CEO Judy-Ann Pottinger Toll Free: (888) 258-3323
Toll Free: 1-855-427-6929 Toll Free: 1-855-427-6929 E-mail: info@investor3.ca
E-mail: cooper@arowayenergy.com E-mail: jpottinger@arowayenergy.com
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.