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ARW

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0.00 (0.00%)
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. Prepares to Complete First Oil Well at Kirkpatrick Lake

20/12/2012 12:30pm

Marketwired Canada


Aroway Energy Inc. (TSX VENTURE:ARW)(OTCQX:ARWJF) (www.arowayenergy.com) (the
"Company") is pleased to announce it has drilled, cased and logged its first
well on its 100% owned and operated Kirkpatrick Lake property in Central,
Alberta. The well was drilled to a total depth of 1,132 meters targeting the
Ellerslie formation. The rig will soon move on to the Company's second
exploration location also targeting oil in the Ellerslie formation with drilling
operations expected to begin in the next few days. Drilling is expected to be
completed before year end with completion in early January 2013. Production
rates will be reported once the Company has adequately flow tested the wells and
can report stabilized production rates. Aroway anticipates disclosing these
results along with Company production by mid-January of 2013.


Chris Cooper, President & CEO of Aroway Energy commented, "We are very
encouraged with the initial results from our first well and look to close out
our 2012 exploration program with successful results upon completion of our
final well of the year."


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 123 sections (78,720 acres) with 3D seismic coverage over 75% 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. 


Aroway plans to exit 2012 with total production of approximately 1200 boe/day.

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
1-855-427-6929
jpottinger@arowayenergy.com
www.arowayenergy.com


Investor Cubed Inc.
(888) 258-3323
info@investor3.ca

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