Argo Obtains General Eligibility for Energy in Alberta
Argo Obtains General Eligibility for Energy in
Alberta
Toronto, Ontario--(Newsfile Corp. - December 20, 2022) - Argo Gold Inc. (CSE:
ARQ
) (OTCQB:
ARBTF
) (
XFRA
,
XSTU
, XBER:
A2ASDS
) ("
Argo Gold
" or "
Argo
")
is pleased to announce that the
Alberta Energy Regulator (AER) has
approved Argo Gold for General Eligibility for Energy under AER
Directive 067 to hold and acquire energy licenses in the province of Alberta.
This is an important step for
Argo Gold to be able to be an oil and gas producer.
Croverro Energy has recently updated Argo that its winter drilling program has had some delays and the
Sparky oil well that Argo is participating in will be initiated in mid Q1 2023.
Also, Croverro Energy now
estimates that Argo's 50% of capital costs has been decreased to ~ $800,000.
Argo's 50% capital cost
contribution entitles Argo to 37.5% of the oil well production estimated to be 90 bbl/day oil to Argo.
About Argo Gold
Argo Gold is a Canadian mineral exploration and development company.
Information on Argo Gold can
be obtained from SEDAR at
www.sedar.com
and on Argo Gold's website at
www.argogold.com
.
Argo
Gold is listed on the Canadian Securities Exchange (
www.thecse.com
) CSE:
ARQ
as well as OTCQB:
ARBTF
and XFRA, XSTU, XBER:
A2ASDS.
For more information please contact:
Judy Baker, CEO
(416) 786-7860
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES
PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information"
within the meaning of applicable securities law.
Forward-looking information is frequently characterized
by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar
words, or statements that certain events or conditions "may" or "will" occur.
Forward-looking statements
are based on the opinions and estimates at the date the statements are made, and are subject to a
variety of risks and uncertainties and other factors that could cause actual events or results to differ
materially from those anticipated in the forward-looking statements including, but not limited to delays or
uncertainties with regulatory approvals, including that of the CSE.
There are uncertainties inherent in
forward-looking information, including factors beyond the Company's control.
The Company undertakes
no obligation to update forward-looking information if circumstances or management's estimates or
opinions should change except as required by law.
The reader is cautioned not to place undue reliance
on forward-looking statements.
Additional information identifying risks and uncertainties that could affect
financial results is contained in the Company's filings with Canadian securities regulators, which filings
are available.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/148811