Aroway Energy Inc ARWJF

RE:RE:RE:RE:RE:davpro

[davpro]

Are you saying that they accomplished all this in the last two weeks?





Aroway Energy Inc. has executed a farm-out agreement with two private companies that will jointly construct and install a water-disposal facility to service Aroway Energy's owned-and-operated West Hazel heavy oil property in western Saskatchewan. The private companies will begin building the disposal facility immediately, including the drilling of a new disposal well into the Dina formation. These new facilities will provide Aroway Energy with sufficient water-handling capacity to facilitate the recompletion of two existing shut-in wells, new infill drilling, as well as the company's planned optimization on the existing producing wells. Current heavy oil production at West Hazel will be temporarily shut in during construction to accommodate the safe installation of the facilities. The two private companies will own and operate the facilities until a certain payout is reached, when Aroway then becomes the majority-working-interest owner and operator.