Aroway Energy Inc. Provides Drilling Update & Announces Brokered Financing

AROWAY ENERGY INC. (TSX VENTURE:ARW)(OTCQX:ARWJF) (www.arowayenergy.com) (the
"Company") is pleased to provide the following operations update on drilling
scheduled for its joint venture operated core area Peace River Arch Property and
its 100% owned and operated Kirkpatrick Lake Property.


At the Company's 100% owned and operated Kirkpatrick Lake property, the
scheduled two exploration oil wells have been surveyed and are in the final
stages of the regulatory approval process, at which time they will be
immediately licensed and a rig contracted to drill both wells . The wells were
selected from proprietary 3D seismic and are nearby significant oil production
from the company's target Ellerslie formation. All the services are in place to
equip the wells assuming the initial test results confirm the productivity of
the wells.


At the company's core property in the Peace River Arch, the operating partner is
in the final stages of obtaining regulatory approvals on an initial two well
shallow oil program to be drilled before year end with a larger program planned
for 2013 based on the success on these initial wells. Additionally, the operator
is just finishing installing pipe and equipment to tie-in one of the three year
end program wells, which resulted in one Leduc well which have yet to stabilize
in terms of production, and a Triassic oil well nearing a stabilized rate of
production. 


Chris Cooper, President & CEO commented, "We are pleased to begin drilling on
our 100% owned and operated Kirkpatrick lake prospect. Judging by the recent
success of other operators in and around the area, we are very optimistic about
our initial 2 prospects in this oil play. Furthermore, we are excited to be back
drilling in our core area with our Joint Venture Partner and look forward to a
busy drilling campaign going forward through the balance of 2012 and into 2013.


Aroway is also pleased to announce that it has engaged Secutor Capital
Management Corp. (the "Agent") to conduct a brokered private placement offering
of securities of the Company (the "Offering") to raise gross proceeds of up to
$6,000,000 through the sale of flow-through units (the "FT Units") at a price of
$0.55 per FT Unit and through the sale of non-flow-through units (the "Units")
at a price of $0.50 per Unit.


Each FT Unit will consist of one (1) common share of the Company issued on a
"flow-through" basis and one-half (1/2) of one common share purchase warrant
(each such whole common share purchase warrant, a "FT Warrant") to be issued on
a "non-flow-through" basis. Each Unit will consist of one (1) common share of
the Company and one (1) common share purchase warrant (a "Warrant"). Each FT
Warrant entitles its holder to purchase one non-flow through common share at a
price of $0.65 per share for a period of twelve (12) months from the date of
issue. Each Warrant entitles its holder to purchase one common share at a price
of $0.60 per share for a period of twelve (12) months from the date of issue.


The proceeds of the sale of the Units and FT Units will be used primarily for
costs associated with the exploration of the Company's core property in the
Peace River Arch and its recently acquired Kirkpatrick Lake property in central
Alberta. A portion of the proceeds of the sale of the Units will also be used
for general working capital purposes.


In connection with the Offering, the Company will pay to the Agent a fee equal
to 7% of the gross proceeds of the Offering and issue non-transferable
compensation options ("Compensation Options") to the Agent equal to 7% of the
total number of FT Units and Units sold in the Offering. Each Compensation
Option is exercisable to acquire one common share of the Company at the price of
$0.50 per share for a period of twelve months from the date of issue. It is
expected that insiders of the Company will be subscribing for securities in the
Offering, on the same terms as arm's length investors, constituting a "related
party transaction" as defined under Multilateral Instrument 61-101 - Protection
of Minority Security Holders in Special Transactions ("MI 61-101"). The
transaction will be exempt from the formal valuation and minority shareholder
approval requirements of MI 61-101 as neither the fair market value of any
shares issued to or the consideration paid by such persons will exceed 25% of
the Company's market capitalization.


All securities to be issued in connection with the Offering are subject to a
hold period of four months and one day from the date of issuance. Closing of the
Offering is conditional on the receipt of all required regulatory approvals,
including the approval of the TSX Venture Exchange.


ABOUT AROWAY ENERGY INC.

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 123 sections (78,720 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 plans to exit 2012 with total production of approximately 1200
boe/d.


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
Toll Free: 1-855-427-6929
[e-mail]


Aroway Energy Inc.:
Judy-Ann Pottinger
Toll Free: 1-855-427-6929
[e-mail]
www.arowayenergy.com


Investor Cubed Inc.:
Toll Free: [phone]
[e-mail]