Aroway Energy Reports West Hazel Property Reserves; Shares Up 2%
Aroway Energy Inc. (ARW.V) announced the results of its independent reserves evaluation on its newly acquired 100% owned and operated West Hazel property in Western Saskatchewan as at December 1, 2012.
- 46.7% Increased Proved reserves to 168,600 bbls (100% oil)
- NPV of Proved reserves is $4.062 million (before tax, discounted at 10%)
Proved plus Probable Reserves
- 83.8% Increased Proved plus Probable reserves to 258,300 bbls (100% oil).
- NPV of Proved plus Probable reserves is $6.423 million (before tax, discounted at 10%)
ARW was up more than 2% to $0.445, trading near 52-week low 40 cents.
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