Argo's August 2024 Oil Production
Argo's August 2024 Oil Production
Toronto, Ontario--(Newsfile Corp. - October 7, 2024) - Argo Gold Inc's. (CSE: ARQ) (OTC
Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("
Argo
" or the
"
Company
") August 2024 oil production was a total of 3,154 barrels for the month, averaging 102
barrels per day.
Oil prices averaged CDN$73 per barrel and Argo's August oil revenue was $230,111
net operating cash flow was $156,699.
August 2024
Oil Production
Argo's interest
Argo's Oil Revenue
Argo's net operating
cash flow
Lindbergh 1
(37.5% interest)
103 bbl/day
39 bbl/day
$87,793
$60,578
Lloyd 1
(18.75% interest)
168 bbl/day
31.5 bbl/day
$71,198
$46,834
Lindbergh 2
(37.5% interest)
84 bbl/day
31.5 bbl/day
$71,120
$49,287
August 2024 Total
102 bbl/day
$230,111
$156,699
Argo participated at its pro rata interest of 18.75% in a second horizontal oil well at Lloyd.
Lloyd 2 was
drilled in late August, equipped in early September, and on production since mid-September.
Development drilling of a third oil well at Lindbergh is planned for October 2024 where Argo will
participate for a 18.75% interest.
About Argo Gold
Argo Gold is a Canadian mineral exploration and development company, and an oil producer.
Information on Argo Gold can be obtained from SEDAR at
www.sedarplus.ca
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 OTC:
ARBTF
and XFRA, XSTU, XBER:
A2ASDS.
Judy Baker, CEO
(416) 786-7860
www.argogold.com
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 the financing not being completed in its entirety, or at all, delays or uncertainties with drilling
and surface preparation work, and not achieving hoped for exploration success.
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.
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