Aroway Energy Inc. Acquires Land
(firmenpresse) - CALGARY, ALBERTA -- (Marketwire) -- 07/21/11 -- AROWAY ENERGY INC. (TSX VENTURE: ARW)(PINK SHEETS: ARWJF) () (the "Company") Reports that the Company together with its Joint Venture Partner (the "Partnership") was successful in acquiring fifteen (15) sections of land, consisting of thirteen (13) sections of shallower rights with drill depths to 1,500 meters and two (2) sections of deeper rights, at a recent Alberta crown land sale. The newly acquired lands are adjoining the Partnership's existing core area land holdings and approximately half the lands are covered with seismic data. Aroway now has access to approximately 90 sections of rights.
Due to heavy rains in the area, testing on the Company's third well of the 2011 drill program has been delayed. Testing operations on the third well will therefore begin later this week followed by a re-completion program on the various recently acquired wellbores. Production results will be released on this well, and the recompletions when the wells have produced at reliable, economic rates.
Chris Cooper, President & CEO, commented, "We are extremely pleased with the results at the recent land sale. The addition of the new lands compliment the already impressive and highly prospective land package that we have access to in our core area in the Peace River Arch."
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. 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 the joint venture partner's owned and operated infrastructure.
ON BEHALF OF AROWAY ENERGY INC.
Chris Cooper, President & CEO
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.
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.
Contacts:
Aroway Energy Inc.
Chris Cooper
President & CEO
1-855-427-6929
Aroway Energy Inc.
Judy-Ann Pottinger
Corporate Communications
1-855-427-6929
Investor Cubed Inc.
1-888-258-3323
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Datum: 21.07.2011 - 12:30 Uhr
Sprache: Deutsch
News-ID 36637
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contact information:
Town:
CALGARY, ALBERTA
Kategorie:
Mining & Metals
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"Aroway Energy Inc. Acquires Land"
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