Aroway Minerals Inc.
TSX VENTURE : ARW

November 16, 2010 09:00 ET

Aroway Announces Spudding of 2nd Well

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 16, 2010) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

AROWAY MINERALS INC. (TSX VENTURE:ARW) (the "Company") is pleased to report drilling operations on the second well of its Peace River Arch exploration program with its farm-in partner have begun. The 3D seismically defined multi-zone prospective well is targeting the Leduc formation at a depth of approximately 2,100 meters. The drilling operations of this well are operated by the Company's joint venture farm-in partner with the Company paying 75% of all costs associated with the well to earn a 50% interest in the well. The exploration well is expected to take approximately 17 days to reach total depth.

This is the second of two or possibly three exploration wells planned before year end. All of the exploration wells are defined by 3D seismic and all have prospectivity in at least 10 different zones throughout the well-bore with each well penetrating the Leduc formation in the Peace River Arch area of Alberta. 

About Aroway Minerals Inc.

Aroway Minerals Inc. is a Western Canadian junior oil and gas production and exploration company focused on participating in "non-operated" Peace River Arch oil and gas exploration prospects, through a joint venture partnership. 

Aroway is currently participating in two exploration wells which are programmed to a total depth into the Leduc formation in the Peace River Arch area of Alberta. The Company will pay 75% of all costs to earn 50% of all revenues in the exploration program. The first well has been drilled and continues to stabilize and is producing oil, gas liquids and gas.

This news release may include forward-looking statements based on assumptions and judgements of management of the Company regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements except as may be required by law.

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.

Contact Information

  • Investor Cubed Inc.
    Alan Huycke
    (647) 258-3311 or (888) 258-3323
    (416) 363-7977 (FAX)
    ahuycke@investor3.ca
    or
    Aroway Minerals Inc.
    Chris Cooper
    President & CEO
    (604) 304-4087
    (604) 909-2679 (FAX)
    cooper@arowayenergy.com