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ARW

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Share Name Share Symbol Market Type
TSXV:ARW TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Aroway Energy Inc. Announces 2012 Year-End Production

13/02/2013 12:30pm

Marketwired Canada


AROWAY ENERGY INC. (TSX VENTURE:ARW)(OTCQX:ARWJF) (www.arowayenergy.com) (the
"Company") is pleased to announce the Company's 2012 year-end production rate of
1,020 barrels of oil equivalent per day ("boe/d") with 90% oil weighting and an
additional 100 boe/d of natural gas currently behind pipe.


Chris Cooper, President & CEO commented, "Today's production announcement is a
remarkable achievement and a reflection of the hard work by both our joint
venture partner and the Aroway Energy team to grow the Company's production from
0 to a major milestone of 1,020 boe/d in just 27 months. 2012 was a year of
success as our exit production rate was up 53% from last year; we increased
interest in assets and new oil discoveries coupled with strategic acquisitions.
We are confident our endeavors from 2012 will result in increased reserve value
and increased shareholder confidence."  


Moving forward into 2013 operations, Aroway will continue with its joint venture
partner on its 110 sections of land in Northern Alberta's Peace River Arch. We
have a large inventory of 3D seismically defined exploration and development
targets identified throughout our entire land base which we will aggressively
pursue throughout 2013. The Peace River Arch is one of the most desirable light
oil and natural gas liquids drilling areas in North America. 


At our West Hazel property in Saskatchewan, Aroway Energy plans to drill two new
wells and upgrade its facilities as management believes it can almost double the
current production of approximately 300 bbls/d. Furthermore, Aroway is pleased
to report that is has begun transporting its existing production from its West
Hazel property via rail, resulting in an additional $9 per barrel being added to
its monthly netback. 


Aroway plans to leverage its strong cash flow and will be active in the
acquisition market capitalizing on the opportunities the Company believes will
become available throughout 2013. 


ABOUT AROWAY ENERGY INC. 

Aroway Energy Inc. is a Western Canadian junior oil focused production and
Exploration Company participating in oil development & exploration prospects in
Alberta and Saskatchewan, Canada. Through a joint venture partnership in the
Peace River Arch of Northern, Alberta, Aroway and its Partner have assembled a
land package of 110 sections (70,400 acres) with 3D seismic coverage over almost
all of its lands. All 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 also has 100% operated working interest on a 3D
seismically defined exploration property in Central Alberta and a highly
economic heavy oil producing property in West Hazel Saskatchewan.  


ON BEHALF OF AROWAY ENERGY INC

Chris Cooper, President & CEO

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Aroway Energy Inc.
Chris Cooper
President & CEO
1-855-427-6929
cooper@arowayenergy.com


Aroway Energy Inc.
Judy-Ann Pottinger
Director of Communications
1-855-427-6929
jpottinger@arowayenergy.com
www.arowayenergy.com

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