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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.

Proved Reserves:

- 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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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