January 23, 2014 08:30 ET
CALGARY, ALBERTA--(Marketwired - Jan. 23, 2014) - AROWAY ENERGY INC. (TSX VENTURE:ARW)(OTCQX:ARWJF) (www.arowayenergy.com) (the "Company") is pleased to announce that operations are well underway on a 3D seismic acquisition program over its farmin lands in the Kerrobert area of central Saskatchewan. Aroway will carry out the seismic operations over a 21 section area (13,440 acres) covering the lands on both of Aroway's farmin agreements. Aroway's contiguous farmin lands consist of 18 sections or portions of sections of freehold land (approximately 8,800 acres) held by a major independent oil producer and approximately 11.5 sections (7360 acres) held by a private oil and gas company. The 3D seismic program is the initial step towards completing certain commitments under both of Aroway's farmin agreements under which Aroway can elect to earn a 100% working interest subject to a royalty.
Chris Cooper, President & CEO commented, "We have now commenced material activity at Kerrobert with a program which is a priority to Aroway as it satisfies our initial work commitments under both of our farmin agreements. The results of the 3D survey will dictate the forward drilling program, and most importantly provide insight into the conventional targets that we feel are rife in this exploration area."
ABOUT AROWAY ENERGY INC.
Aroway Energy Inc. is a western Canadian junior oil production and exploration company participating in oil development & exploration prospects in Alberta and Saskatchewan. Aroway operates and owns a highly economic heavy oil producing property in West Hazel, Saskatchewan, owns a 100% working interest in a light oil producing property in Kirkpatrick Lake in Central Alberta as well as a large contiguous land base in the Kerrobert area of West Central Saskatchewan. Through a joint venture partnership, Aroway also owns a 50% working interest in the Peace River Arch of Northern, Alberta with 90 sections (57,600 acres) of land with 3D seismic coverage on the majority of the land base, with the area infrastructure controlled and owned by Aroway's Joint Venture Partner.
ON BEHALF OF AROWAY ENERGY INC
Chris Cooper, President & CEO
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.
Aroway Energy Inc.Chris CooperPresident & CEOToll Free: firstname.lastname@example.orgAroway Energy Inc.Judy-Ann PottingerToll Free: email@example.com
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