During the remainder of 2011, the Company and its joint venture partner will continue its exploration and development program with an additional 2 wells to be drilled before year-end pending regulatory approval and rig availability. The partnership continues to be active pursuing land acquisition opportunities which will increase the Company's strategic foot print in the Peace River Arch core area.
The Company will release material information with respect to new wells and future land acquisitions as the exploration strategy permits.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements relating to the Company's plans and other aspects of the Company's anticipated future operations, management focus, strategies, financial and operating results and business opportunities. Forward-looking statements typically use words such as "anticipate", "believe", "project", "expect", "goal", "plan", "intend" or similar words suggesting future outcomes, statements that actions, events or conditions "may", "would", "could" or "will" be taken or occur in the future. In particular, this press release contains forward-looking statements relating, but not limited to:
- drilling and development plans including the timing of drilling and completion of wells;
- recompletion prospects and amounts therefrom;
- Aroway's business strategy;
- Aroway's future prospects for development and growth;
- anticipated future production.
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 Company is currently producing approximately 530 boe/day of oil, gas liquids and gas net to Aroway.
ON BEHALF OF AROWAY ENERGY INC.
Chris Cooper, President & CEO
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.
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.
Aroway Energy Inc.
President & CEO
Toll Free: 1-855-427-6929
Aroway Energy Inc.
(604) 304-4090 or Cell: (604) 617-5290
(604) 909-2679 (FAX)
Toll Free: (888) 258-3323
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