CALGARY, ALBERTA--(Marketwired - Dec. 4, 2013) - AROWAY ENERGY INC. (TSX VENTURE:ARW)(OTCQX:ARWJF) (www.arowayenergy.com) (the "Company") announces that it has commenced operations on a new development oil well on its 100% owned and operated Kirkpatrick Lake property in Central Alberta. The new development oil well will be drilled to an approximate depth of 1,400 meters into the Ellerslie formation. This new well is classified as a development well, and offsets Aroway's original discovery well which went into production under a Special MRL (Maximum Rate Limitation) in July 2013 at a rate of 240 bbls per day. The new well will be tied-in to existing infrastructure approximately 200 meters away immediately upon completion and a short term production test.
Chris Cooper, President & CEO of Aroway Energy, commented, "Provided this well is successful, the anticipated increase in oil production from this well will bolster our current production, strengthen our cash flow and continue to build on our profitability as an operating oil Company."
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 highly economic heavy oil producing property in West Hazel, Saskatchewan and has a 100% working interest in a light oil producing property in Kirkpatrick Lake in Central Alberta. Through a joint venture partnership, Aroway has a 50% working interest in the Peace River Arch of Northern Alberta with 90 sections (57,600 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.
Chris Cooper, 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.