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Aroway Energy Inc. (TSXV:ARW, OTCQX:ARWJF) started operations on a new development oil well on its 100% owned and operated Kirkpatrick Lake property in Central Alberta.
Aroway Energy Inc. (TSXV:ARW, OTCQX:ARWJF) started operations on a new development oil well on its 100% owned and operated Kirkpatrick Lake property in Central Alberta.
According to the company’s press release:
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.
Click here to view the full press release.