SOURCE: Century Capital Markets

November 28, 2011 07:00 ET

Aroway Energy Grows in Alberta's Lucrative Peace River Arch Area

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the CENTURY CAPITAL MARKETS.

NEW YORK, NY--(Marketwire - Nov 28, 2011) - Aroway Energy, Inc. (TSX-V: ARW) (PINKSHEETS: ARWJF) which has property in The Peace River Arch in Northern Alberta has seen land prices in the area move upward as major players move in. Aroway Energy Inc. is a Canadian based exploration, acquisition and production company undertaking the development of light oil, natural gas liquids and natural gas within the prolific Peace River Arch region of northern Alberta, Canada, the Company's core area.

The Company's exploration program centers on a contiguous land base totaling 61,440 acres (96 gross sections) within Alberta's Peace River Arch. The Peace River Arch is one of the most active exploration and development areas in Alberta with exploration heavy weights such as Crescent Point Energy (TSX: CPG), Canadian Natural Resources (TSX: CNQ), and Birchcliff Energy (TSX: BIR) who has received unsolicited expressions of interest for a buyout in the 4th quarter of this year.

The Peace River Arch is one of the most prolific natural gas and oil producing areas of the Western Canadian Sedimentary Basin and is generally characterized by multiple horizons with a number of structural, stratigraphic and hydrodynamic traps. There is an abundance of prolific resource plays, related in part to the proximity of the area to the deep basin, where generation and trapping of hydrocarbons preferentially occurs. The Peace River Arch provides all-season access that allows companies to drill, equip and tie-in wells on an almost continuous basis, excluding the spring break-up period.

Aroway Energy Inc. is the fastest growing junior in the area starting from a small 4 section (2,560 acres) land base in September 2010, to an increased access to a contiguous land base of 96 sections (61,440 acres) in just 14 months. Aroway is on schedule towards its 2011 year end production target of 600 boe/day with current net production of 530 boe/day, 76% of which is oil. Aroway expects to surpass its 2011 production target in advance of year-end as the Company continues its recompletion program and latest drilled wells are tested and brought online. For more information on Aroway Energy and the Peace River Arch area please visit

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