Aroway Energy (TSX.V:ARW) (OTCQX:ARWJF) (Frankfurt: A7X1) CEO Chris Cooper is the guest on Midas Letter Money in this segment shot in Vancouver, BC. Cooper describes how Aroway's goal of achieving production of 2,000 barrels of oil per day is right on track. The company has met or exceeded its stated milestones virtually every step of the way.
Aroway is focused on the Peace Arch basin of north central Alberta, and is surrounded on all sides by much larger intermediate and major producers such as Birchcliff Energy Ltd. (TSX:BIR), Canadian Natural Resources (TSX:CNQ), Crescent Point Energy (TSX:CPG) and Shell Canada (NYSE:RDSA). Aroway expects to exit 2012 with production of at least 1,200 BOE/d.
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About Aroway Energy
Aroway Energy Inc. is a western Canadian junior oil and gas production and exploration company participating in oil exploration prospects through a joint venture partnership. Aroway and its Partner have assembled an impressive land package of 121 sections (77,440 acres) with 3D seismic coverage over 75% of its lands, all within its core area, the Peace River Arch. All of the Company's exploration and development targets are in close proximity to tie-in, gathering and plant infrastructure, controlled and owned by Aroway's Joint Venture Partner. Aroway is currently producing approximately 650 boe/d (90% oil) and an additional 200 boe/d of shut in natural gas.The Company's 2012 drill and recompletion program will resume after spring break up. Aroway expects to exit 2012 with total production of approximately 1,200 boe/d.
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