Argo's January 2025 Oil Production

Rhea-AI Summary

Argo Gold (OTC: ARBTF) reported its oil production figures for early 2025. In January 2025, the company produced 3,541 barrels of oil, averaging 114 barrels per day, with oil prices averaging CDN$77.65 per barrel. This resulted in January oil revenue of $274,990 and net operating cash flow of $186,454.

For February 2025, Argo's oil production decreased to approximately 2,971 barrels, with a daily average of 106 barrels.

Positive

• Strong January oil revenue of $274,990
• Healthy January net operating cash flow of $186,454
• Stable oil production averaging over 100 barrels per day

Negative

• February oil production declined by 16% compared to January
• Daily production dropped from 114 to 106 barrels per day

Toronto, Ontario--(Newsfile Corp. - March 19, 2025) - Argo Gold Inc's. (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("Argo" or the "Company") January 2025 oil production was a total of 3,541 barrels for the month, averaging 114 barrels per day. Oil prices averaged CDN$77.65 per barrel and Argo's January oil revenue was $274,990 and net operating cash flow was $186,454.

January 2025	Oil Production	Argo's interest	Argo's Oil Revenue	Argo's net operating cash flow
Lindbergh 1 (37.5% interest)	112 bbl/day	42 bbl/day	$101,831	$73,793
Lloyd 1 (18.75% interest)	154 bbl/day	29 bbl/day	$70,058	$46,801
Lindbergh 2 (37.5% interest)	62 bbl/day	23 bbl/day	$54,898	$35,892
Lloyd 2 (18.75% interest)	13 bbl/day	2.5 bbl/day	$5,957	$2,428
Lindbergh 3 (18.75% interest)	93 bbl/day	17.5 bbl/day	$42,246	$27,540
January 2025 Total		114 bbl/day	$274,990	$186,454

 

Argo's February oil production was approximately 2,971 barrels averaging 106 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245239

FAQ

What was Argo Gold's (ARBTF) oil production volume in January 2025?

Argo Gold produced 3,541 barrels in January 2025, averaging 114 barrels per day.

How much revenue did ARBTF generate from oil sales in January 2025?

Argo Gold generated revenue of $274,990 from oil sales in January 2025.

What was ARBTF's net operating cash flow for January 2025?

The net operating cash flow for January 2025 was $186,454.

How did Argo Gold's (ARBTF) February 2025 oil production compare to January?

February production decreased to 2,971 barrels (106 barrels/day) compared to January's 3,541 barrels (114 barrels/day).