energy stock news

Friday, March 4, 2011

Oil and Gas Stocks; Aroway Energy Inc. (TSX-V:ARW; PINK:ARWJF) Begins 2011 Drill Program

CALGARY, ALBERTA - March 3, 2011 ( energy stocks newswire) – Aroway Minerals Inc. (TSX-V:ARW; PINK:ARWJF) ( (the "Company") is pleased to announce that the Company has begun drilling operations on its first well of the Company's 2011 Peace River Arch exploration drilling program. The 3D seismically defined multi-zone prospective well is located on the newly acquired lands announced by the Company on February 14, 2011. The well is targeting the Leduc formation at a depth of approximately 2,300 meters. The drilling operations of this well are being operated by the Company's joint venture farm in partner with the Company paying 50% of all costs associated with this well to earn a 50% interest in the well. This exploration well is expected to take approximately 17 days to reach total depth.
This is the first of a possible six wells planned for the 2011 drill program. All of the planned exploration and / or development wells to be drilled are defined by seismic, have multi-zone prospectivety, and are close to infrastructure.
About Aroway Energy Inc.
Aroway Energy Inc. is a Western Canadian junior oil and gas production and exploration company participating in "non-operated" Peace River Arch oil and gas exploration prospects, through a joint venture partnership. Aroway is currently producing approximately 225 boe/day of oil, gas liquids and gas net to Aroway
Chris Cooper, President
BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
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.
Judy-Ann Pottinger
Aroway Energy Inc.
(604) 304-4090 or Cell: (604) 617-5290
(604) 909-2679 (FAX)
(647) 258-3311 or Toll Free: (888) 258-3323
Investor Cubed Inc.
(416) 363-7977 (FAX)
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  1. It says that they expect 17 days from when they started drilling to hit paydirt. We'll see how that materializes. Small oil and gas stocks like this one are typically bought out or merged into their parents as soon as they hit something substantial.

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