Argo's January 2024 Oil Production

Rhea-AI Summary

Argo Gold Inc. reports January 2024 oil production of 3622 barrels, with an average of 117 barrels per day. Oil prices averaged CDN$59.23 per barrel, resulting in $214,537 in revenue and $124,483 in net operating cash flow for the month.

Toronto, Ontario--(Newsfile Corp. - March 11, 2024) - Argo Gold Inc's. (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("Argo" or the "Company") January 2024 oil production was a total of 3622 barrels for the month, averaging 117 barrels per day. Oil prices averaged CDN$59.23 per barrel and Argo's January oil revenue was $214,537 and net operating cash flow was $124,483.

January 2024	Oil Production	Argo's interest	Argo's Oil Revenue	Argo's net operating cash flow
Lindbergh 1 (37.5% interest)	108 bbl/day	40.4 bbl/day	$72,973	$40,281
Lloyd (18.75% interest)	207 bbl/day	39 bbl/day	$74,398	$49,606
Lindbergh 2 (37.5% interest)	100 bbl/day	37.4 bbl/day	$67,166	$34,606

 

About Argo Gold
Argo Gold is a Canadian mineral exploration and development company. 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) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (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/201214

FAQ

What was Argo Gold Inc.'s total oil production in January 2024?

Argo Gold Inc.'s total oil production in January 2024 was 3622 barrels.

What was the average daily oil production for Argo Gold Inc. in January 2024?

Argo Gold Inc. averaged 117 barrels per day in oil production for January 2024.

What was the average oil price per barrel for Argo Gold Inc. in January 2024?

The average oil price per barrel for Argo Gold Inc. in January 2024 was CDN$59.23.

How much revenue did Argo Gold Inc. generate from oil in January 2024?

Argo Gold Inc. generated $214,537 in revenue from oil in January 2024.

What was Argo Gold Inc.'s net operating cash flow in January 2024?

Argo Gold Inc.'s net operating cash flow in January 2024 was $124,483.