CALGARY, ALBERTA — (Marketwired) — 11/25/13 — AROWAY ENERGY INC. (TSX VENTURE: ARW) (OTCQX: ARWJF) () (the “Company”) is pleased to announce it has filed on SEDAR its interim financial statements and related management discussion and analysis (“MD&A”) for the three months ended September 30, 2013. Selected financial and operational information is outlined below and should be read in conjunction with the financial statements and related MD&A which are available for review on SEDAR.
FINANCIAL HIGHLIGHTS
Chris Cooper, President & CEO of Aroway Energy commented, “We are very pleased with our positive net income and cash flow for the quarter. We have significantly strengthened our balance sheet with the significant reduction in the amount owing on our credit facility and our positive earning. We are making arrangements to resume operations immediately”
Q1 2014 FINANCIAL & OPERATING HIGHLIGHTS
ABOUT AROWAY ENERGY INC.
Aroway Energy Inc. is a western Canadian junior oil production and exploration company participating in oil development & exploration prospects in Alberta and Saskatchewan. Aroway operates and owns a highly economic heavy oil producing property in West Hazel, Saskatchewan and has a 100% working interest in a light oil producing property in Kirkpatrick Lake in Central Alberta. Through a joint venture partnership, Aroway has a 50% working interest in the Peace River Arch of Northern, Alberta with 90 sections (57,600 acres) of land with 3D seismic coverage on the majority of the land base, with the area infrastructure controlled and owned by Aroway–s Joint Venture Partner.
ON BEHALF OF AROWAY ENERGY INC
Chris Cooper, President & CEO
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. A conversion ratio of 1 barrel of oil equivalent (“boe”); 6 Mcf has been used, which is based on an energy equivalency conversion method primarily applicable at the burner tip and does not necessarily represent a value equivalency at the wellhead. Boes may be misleading, particularly if used in isolation.
Contacts:
Aroway Energy Inc.
Chris Cooper
President & CEO
Toll Free: 1-855-427-6929
Aroway Energy Inc.
Judy-Ann Pottinger
Director of Communications
Toll Free: 1-855-427-6929