Oil and Gas Stocks; AROWAY MINERALS INC. (TSX-V:ARW; PINK:ARWJF) ANNOUNCES DRILLING OPERATIONS UPDATE
Vancouver, B.C., December 1, 2010 (Investorideas.com energy stocks newswire) � AROWAY MINERALS INC. (TSX-V:ARW; PINK:ARWJF) (www.arowayenergy.com) (the "Company") is pleased to announce the following update on the Company�s joint venture drilling operations in the Peace River Arch area of Alberta. The Company�s first well remains on production and is producing oil, gas liquids and gas at a stabilized rate of approximately 100boe/day net to Aroway.
The second well of the exploration program has been drilled and cased and is awaiting the arrival of a service rig and related equipment to begin the well completion program. This multi prospect exploration well was drilled to an approximate depth of 2200 meters targeting the Leduc formation.
Drilling operations on the third well commenced November 25th and is expected to reach total depth by mid December.
About Aroway Minerals Inc.
Aroway Minerals Inc. is a Western Canadian junior oil and gas production and exploration company focused on participating in "non-operated" Peace River Arch oil and gas exploration prospects, through a joint venture partnership.
Aroway is currently participating in exploration wells which are programmed to a total depth into the Leduc formation in the Peace River Arch area of Alberta. The Company will pay 75% of all costs to earn 50% of all revenues in the exploration program. The first well has been drilled and produces approximately 100 boe/day of oil, gas liquids and gas net to Aroway.
ON BEHALF OF AROWAY MINERALS INC.
"Chris Cooper"
President
For further information, please call:
Aroway Minerals Inc.:
Judy-Ann Pottinger
Telephone: (604) 617-5290
Fax: (604) 909-2679
E-mail: jpottinger@arowayenergy.com
Investor Cubed Inc.:
Alan Huycke
Telephone: (647) 258-3311, (888) 258-3323
Fax: (416) 363-7977
E-mail: ahuycke@investor3.ca
This news release may include forward-looking statements based on assumptions and judgements of management of the Company regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements except as may be required by law.
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.
Disclosure: ARW is a paid advertising client on Investorideas.com and our energy, natural gas, and oil and gas portals.
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