Aroway Minerals Inc.

November 22, 2010 09:00 ET

Aroway Executes Rolling Option Agreement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 22, 2010) -


Aroway Minerals Inc. (TSX VENTURE:ARW) (the "Company") is pleased to report that the Company has executed an amending agreement with its joint venture partner that incorporates a rolling option to facilitate the desire of Aroway to continue to drill earning wells with its current joint venture partner, ("Partner") on its Partner's approximate 45 sections (28,800 acres) land base in the Peace River Arch area of northern Alberta. Upon completion of Aroway's initial four (4) well commitment, the amending agreement will allow Aroway to participate in the drilling of additional earning well(s) on its Partners lands and / or the option to commit to participate in the shooting or acquisition of seismic program(s).

Chris Cooper, President of Aroway commented, "The execution of this agreement gives Aroway a large fairway to grow with our joint venture farm-in partner, and allows us to continue to drill similar wells to our first successful well enabling us to build on our current production, cash flow and grow through the drill bit."

Operations on the drilling of the Company's second joint venture well of its Peace River Arch exploration program continues, and the well is expected to reach total depth within days. The Company will release material information with respect to this well as necessary, and as the exploration strategy permits.

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 produces approximately 100 boe/day of 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.

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