Aroway Energy Inc ARWJF

RE:RE:RE:RE:RE:RE:news

[whitehorn1]

louel, yes I agree with your comments. It is going to be tough slugging in the oil industry for the next year in my opinion. and the next quarter will probably be worse than this quarter as I'm being told. Small juniors are probably going to disappear. I read an article where 400 oil companies existed in Canada prior to 2008 with 300 at present. I think after this downturn, will probably lose another 100 either through bankruptcy or merging activity. The days where 5 guys quit there oil job to from an oil company will be the think of the past in my opinion as to capital intensive and risk. Anyways, CC has apparently has lots of money in this anywhere from 300-700k by my estimate - will see how he comes out. I think we will know as Davepro, mentioned before end of Nov or not much later. The biggest fault or critique I have of CC is just would not drill at all, if he would of drilled those disposal wells in April 2013ish when I first bought, instead of Jan 2014. This company may have been able to avoid the crunch as would of been through their debt, as that was his strategy overall. Now, all their production costs more to produce than what they get out of it, but they are at the mercy of their operator. ARW may have a chance of surviving if they could get a bridge loan for another year of operation, as oil should be higher. Anyways, does not look good at this stage. There are some scary stories in the patch, like the 2 houses in high end luxury area near Calgary selling for 60 percent less i.e. 4.7 to 1.7 million. I'm sure those guys needed money to solve some financial issues related to work. Does CC have a mansion, maybe he may have to sell that or abandon ship? That said, loosing 400k minimum is not easy however you look at it, the plot thickens.....