Aroway Energy (TSXV:ARW, OTCQX:ARWJF) a production rate for 2012 of 100 boe/d.
As quoted in the press release:
Moving forward into 2013 operations, Aroway will continue with its joint venture partner on its 110 sections of land in Northern Alberta’s Peace River Arch. We have a large inventory of 3D seismically defined exploration and development targets identified throughout our entire land base which we will aggressively pursue throughout 2013. The Peace River Arch is one of the most desirable light oil and natural gas liquids drilling areas in North America.
Aroway’s President and CEO, Chris Cooper, said:
Today’s production announcement is a remarkable achievement and a reflection of the hard work by both our joint venture partner and the Aroway Energy team to grow the Company’s production from 0 to a major milestone of 1,020 boe/d in just 27 months. 2012 was a year of success as our exit production rate was up 53% from last year; we increased interest in assets and new oil discoveries coupled with strategic acquisitions. We are confident our endeavors from 2012 will result in increased reserve value and increased shareholder confidence.
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