Aroway Energy Inc. Completes Facility and Resumes Production at West Hazel
March 27, 2014 (Source: Accesswire) — AROWAY ENERGY INC. (TSX-V: ARW) (OTCQX: ARWJF) (www.arowayenergy.com) (the “Company”) is pleased to announce that the facility installation and drilling of the produced water disposal well at its 100% owned and operated West Hazel property is now complete. Aroway’s existing wells have been tied-in via pipeline to the new disposal well, oil battery and water disposal facility which has also been completed. Production from the property has begun and all wells are expected to be up and running with stable production over the next 2 weeks.
Chris Cooper, President & CEO commented, “I am extremely pleased with the Aroway team’s ability to complete the West Hazel project on time and on budget. The new facility will immediately cut our operating costs per barrel in half, to approximately $14 per barrel or better in conjunction with extending the economic and reserve life of the wells. Furthermore, we plan on optimizing the production of this property with infill drilling over the coming months”
ABOUT AROWAY ENERGY INC.
Aroway Energy Inc. is a western Canadian junior oil production and exploration company participating in oil development & exploration prospects in Alberta and Saskatchewan. Aroway operates and owns a 100% working interest, operated heavy oil producing property in West Hazel, Saskatchewan, and a 100% working interest, operated light oil producing property in Kirkpatrick Lake in Central Alberta, as well as it has access to a large contiguous prospective land base in the Kerrobert area of West Central Saskatchewan. Through a joint venture partnership, Aroway also owns a 50% working interest property in the Peace River Arch of Northern, Alberta with 80 sections (51,200 acres) of land with 3D seismic coverage on the majority of the land base, with the area infrastructure controlled and owned by Aroway’s Joint Venture Partner.
ON BEHALF OF AROWAY ENERGY INC
President & CEO
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. 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.
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