Aroway Energy, Inc. (ARWJF: Grey Market) | Aroway Energy Inc. to Increase 3D Seismic Coverage by 75%

Aroway Energy Inc. to Increase 3D Seismic Coverage by 75%

Feb 03, 2012

OTC Disclosure News Service

Vancouver, BC, Canada –

 

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.:
Chris Cooper, President CEO
Toll Free: 1-855-427-6929
E-mail: cooper@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. A conversion ratio of 1 barrel of oil equivalent (“boe”); 6 Mcf has been used, which is based on an energy equivalency conversion method primarily applicable at the burner tip and does not necessarily represent a value equivalency at the wellhead.  Boes may be misleading, particularly if used in isolation.

 

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/ARWJF/news?id=42106

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