Argo's December 2024 Oil Production
Argo Gold (OTC: ARBTF) reported its December 2024 oil production results, achieving a total output of 3,321 barrels for the month, averaging 107 barrels per day. The company secured an average oil price of CDN$72 per barrel, generating monthly revenue of $238,223 with net operating cash flow of $154,781.
The production came from multiple wells: Lindbergh 1 (37.5% interest) producing 40 bbl/day, Lloyd 1 (18.75% interest) at 30 bbl/day, Lindbergh 2 (37.5% interest) at 19 bbl/day, Lloyd 2 (18.75% interest) at 1 bbl/day, and Lindbergh 3 (18.75% interest) at 17 bbl/day. The company also noted that January production increased to approximately 3,554 barrels, averaging 115 barrels per day.
Argo Gold (OTC: ARBTF) ha riportato i risultati della produzione di petrolio per dicembre 2024, raggiungendo una produzione totale di 3.321 barili per il mese, con una media di 107 barili al giorno. L'azienda ha ottenuto un prezzo medio del petrolio di CDN$72 per barile, generando un fatturato mensile di $238.223 con un flusso di cassa operativo netto di $154.781.
La produzione è provenuta da diversi pozzi: Lindbergh 1 (interesse del 37,5%) con una produzione di 40 bbl/giorno, Lloyd 1 (interesse del 18,75%) a 30 bbl/giorno, Lindbergh 2 (interesse del 37,5%) a 19 bbl/giorno, Lloyd 2 (interesse del 18,75%) a 1 bbl/giorno e Lindbergh 3 (interesse del 18,75%) a 17 bbl/giorno. L'azienda ha anche notato che la produzione di gennaio è aumentata a circa 3.554 barili, con una media di 115 barili al giorno.
Argo Gold (OTC: ARBTF) informó los resultados de su producción de petróleo de diciembre de 2024, alcanzando una producción total de 3,321 barriles para el mes, con un promedio de 107 barriles por día. La compañía aseguró un precio promedio de petróleo de CDN$72 por barril, generando ingresos mensuales de $238,223 con un flujo de caja operativo neto de $154,781.
La producción provino de múltiples pozos: Lindbergh 1 (interés del 37.5%) produciendo 40 bbl/día, Lloyd 1 (interés del 18.75%) a 30 bbl/día, Lindbergh 2 (interés del 37.5%) a 19 bbl/día, Lloyd 2 (interés del 18.75%) a 1 bbl/día, y Lindbergh 3 (interés del 18.75%) a 17 bbl/día. La compañía también señaló que la producción de enero aumentó a aproximadamente 3,554 barriles, promediando 115 barriles por día.
Argo Gold (OTC: ARBTF)는 2024년 12월 석유 생산 결과를 보고하였으며, 이달 총 3,321배럴의 생산량을 기록하였고, 하루 평균 107배럴을 생산하였습니다. 회사는 배럴당 평균 CDN$72의 석유 가격을 확보하였으며, 월간 수익은 $238,223에 달하고, 순 운영 현금 흐름은 $154,781이었습니다.
생산량은 여러 개의 유정에서 나왔습니다: Lindbergh 1 (37.5% 지분)에서 하루 40 bbl 생산, Lloyd 1 (18.75% 지분)에서 30 bbl/day, Lindbergh 2 (37.5% 지분)에서 19 bbl/day, Lloyd 2 (18.75% 지분)에서 1 bbl/day, Lindbergh 3 (18.75% 지분)에서 17 bbl/day입니다. 회사는 또한 1월 생산량이 약 3,554배럴로 증가하였으며, 하루 평균 115배럴을 기록했다고 발표하였습니다.
Argo Gold (OTC: ARBTF) a rapporté ses résultats de production de pétrole pour décembre 2024, atteignant une production totale de 3 321 barils pour le mois, avec une moyenne de 107 barils par jour. L'entreprise a sécurisé un prix moyen du pétrole de CDN$72 par baril, générant un revenu mensuel de $238 223 avec un flux de trésorerie opérationnel net de $154 781.
La production provenait de plusieurs puits : Lindbergh 1 (intérêt de 37,5%) produisant 40 bbl/jour, Lloyd 1 (intérêt de 18,75%) à 30 bbl/jour, Lindbergh 2 (intérêt de 37,5%) à 19 bbl/jour, Lloyd 2 (intérêt de 18,75%) à 1 bbl/jour, et Lindbergh 3 (intérêt de 18,75%) à 17 bbl/jour. L'entreprise a également noté que la production de janvier a augmenté à environ 3 554 barils, avec une moyenne de 115 barils par jour.
Argo Gold (OTC: ARBTF) hat seine Produktionszahlen für Dezember 2024 veröffentlicht und insgesamt 3.321 Barrel für den Monat erreicht, was einem Durchschnitt von 107 Barrel pro Tag entspricht. Das Unternehmen sicherte sich einen durchschnittlichen Ölpreis von CDN$72 pro Barrel und erzielte monatliche Einnahmen von $238.223 sowie einen Netto-Cashflow aus der operativen Tätigkeit von $154.781.
Die Produktion stammte aus mehreren Brunnen: Lindbergh 1 (37,5% Anteil) mit 40 bbl/Tag, Lloyd 1 (18,75% Anteil) mit 30 bbl/Tag, Lindbergh 2 (37,5% Anteil) mit 19 bbl/Tag, Lloyd 2 (18,75% Anteil) mit 1 bbl/Tag und Lindbergh 3 (18,75% Anteil) mit 17 bbl/Tag. Das Unternehmen bemerkte zudem, dass die Produktion im Januar auf etwa 3.554 Barrel anstieg, mit einem Durchschnitt von 115 Barrel pro Tag.
- Revenue generation of $238,223 in December 2024
- Positive net operating cash flow of $154,781
- Production increase in January 2025 to 115 barrels per day from 107 in December
- Low production from Lloyd 2 well at only 1 bbl/day
Toronto, Ontario--(Newsfile Corp. - February 5, 2025) - Argo Gold Inc's. (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("Argo" or the "Company") December 2024 oil production was a total of 3,321 barrels for the month, averaging 107 barrels per day. Oil prices averaged CDN
| December 2024 | Oil Production | Argo's interest | Argo's Oil Revenue | Argo's net operating cash flow |
| Lindbergh 1 ( | 106 bbl/day | 40 bbl/day | ||
| Lloyd 1 ( | 158 bbl/day | 30 bbl/day | ||
| Lindbergh 2 ( | 51 bbl/day | 19 bbl/day | ||
| Lloyd 2 ( | 9 bbl/day | 1 bbl/day | 332 | |
| Lindbergh 3 ( | 90 bbl/day | 17 bbl/day | ||
| December 2024 Total | 107 bbl/day | |||
Argo's January oil production was approximately 3,554 barrels averaging 115 barrels per day.
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
jbaker@argogold.ca
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239710
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