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Aroway Energy Inc
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July 2014 Corporate Presentation
| Chris Cooper | Page 10 of 11 |
May 03, 2024
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"July 2014 Corporate Presentation"
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TSX-V: ARW | OTCQX:ARWJF West Hazel - Saskatchewan • Heavy Oil (12-16 ?API oil) in Lloydminster area, Saskatchewan; production railed to market. • 0.3 sections (5 LSD’s), 100% working interest. • Acquired 265 bbls/day in November 2012 for $2,769,000 or $10,450 per flowing barrel. • Multiple horizons in Mannville Sands (General Petroleum, Sparky & Waseca, Dina disposal zone). • Well depth under 800 meters. • All season access, three phase power and 1.5 hours trucking time to rail loading facility. • Current production 300 bbls/day (100% oil). 2013 Reserves Before Tax NPV10 (in millions) Proved (P): $3.91 Million Proved plus Probable (P+P): $6.75 Million 2014 Development Plans: • Installed water injection/disposal well and gathering system to reduce operating costs and extend reserve life. • Worked over 1 of the suspended wells and sped up all pumps on the existing producing wells. • Drilled 1 of 4 infill well locations. An additional infill well location will be drilled before year end 2014. • Waterflood application submission pending. • Expected Risked Results: – Production: 400 bbls/day – Operating Costs: $14.00 per barrel – Field Cash Flow Net Back: $40.00 per barrel – Capital Spent: $2.65 million 10