The Peace River Arch
Worsley Project Overview
When Aroway began its operations in the Peace River Arch in 2010, land in the Peace River Arch was purchased for $50-$100 per hectare at crown land sales. Today, land is being purchased in the $300 to $900 per hectare range and prices continue to rise.
Key players surrounding Aroway’s lands include; Birchcliff Energy Ltd., Crescent Point Energy Corp., Canadian Natural Resources Limited and Shell Canada.
The Peace River Arch is located in Northern Alberta and is renowned for its large wells (oil, gas liquids and gas). These large wells have long reserve lives and can produce for up to 15 to 20 years.
The Peace River Arch is one of the most desirable light oil and natural gas liquids drilling areas in North America.
Our Land Package is Surrounded by Majors that include:
|Birchcliff Energy Ltd||BIR.T|
|Crescent Point Energy||CPG.T|
|Guide Exploration Ltd||GO.T|
Aroway Energy Inc. ("Aroway or the "Company") is a publicly held Canadian junior oil focused exploration, acquisition and production company participating in non-operated Peace River Arch oil exploration prospects, through a Joint Venture Partnership.
On April 18, 2012, the company announced production of 650 boe/day (90% oil), and has an additional 200 boe/day of shut-in natural gas.
Aroway is an active Tier 2 oil and gas issuer listed on the TSX-V Exchange under the symbol ARW; also listed on the US OTCQX market and Frankfurt (FRA) stock exchange.
The current drill program is 100% oil focused with several prospective zones penetrated down to the target zone.
Highly Prospective Inventory / Significant Asset Base
- Over 110 Sections (70,400 acres) surrounded by five majors in the Peace River Arch
- Extensive 3D Seismic coverage adding to prospect inventory for drill programs
2011 Material Exploration Success
- Grew production by 235% (Jan 2011 – 200 boe/d – Dec 2011 – 669 boe/d)
Joint Venture Relationship
- Low G&A due to non-operatorship
- Access to an established and experienced technical team with expertise and success in the core area of the Peace River Arch
- Access to gathering & compression infrastructure, owned by the Joint Venture Partner/Operator
- Ownership and control of infrastructure contributes to low operating costs and reduced timelines from drilling to production
Exposure to the right commodity
- Current production oil weighted (90% Oil)
- Current drill program 100% oil focused
- Success in current Oil focused drill program – new light oil pool discovery