Argo's September 2024 Oil Production and Update
Argo Gold reported its September 2024 oil production results, achieving a total of 3,565 barrels for the month, averaging 118 barrels per day. The company generated oil revenue of $241,198 with net operating cash flow of $163,738 at average oil prices of CDN$68 per barrel. Production came from four wells: Lindbergh 1 (37.5% interest), Lloyd 1 (18.75% interest), Lindbergh 2 (37.5% interest), and Lloyd 2 (18.75% interest). Lloyd 2 began production in mid-September, and the company participated in a third Lindbergh well (18.75% interest) that started production in late October.
Argo Gold ha riportato i risultati della produzione di petrolio di settembre 2024, raggiungendo un totale di 3.565 barili per il mese, con una media di 118 barili al giorno. L'azienda ha generato ricavi da petrolio pari a $241.198 con un flusso di cassa operativo netto di $163.738 a prezzi medi del petrolio di CDN$68 per barile. La produzione proviene da quattro pozzi: Lindbergh 1 (interesse del 37,5%), Lloyd 1 (interesse del 18,75%), Lindbergh 2 (interesse del 37,5%) e Lloyd 2 (interesse del 18,75%). Lloyd 2 ha iniziato la produzione a metà settembre, e l'azienda ha partecipato a un terzo pozzo Lindbergh (interesse del 18,75%) che ha iniziato la produzione a fine ottobre.
Argo Gold informó sus resultados de producción de petróleo de septiembre de 2024, logrando un total de 3,565 barriles para el mes, promediando 118 barriles por día. La compañía generó ingresos por petróleo de $241,198 con un flujo de caja operativo neto de $163,738 a precios promedio del petróleo de CDN$68 por barril. La producción provino de cuatro pozos: Lindbergh 1 (interés del 37.5%), Lloyd 1 (interés del 18.75%), Lindbergh 2 (interés del 37.5%) y Lloyd 2 (interés del 18.75%). Lloyd 2 comenzó la producción a mediados de septiembre, y la empresa participó en un tercer pozo de Lindbergh (interés del 18.75%) que comenzó su producción a finales de octubre.
Argo Gold는 2024년 9월 석유 생산 결과를 보고했습니다. 이 회사는 해당 월에 총 3,565 배럴을 생산했으며, 하루 평균 118 배럴을 기록했습니다. 회사는 $241,198의 석유 수익을 창출하였고, 평균 석유 가격이 배럴당 CDN$68일 때 순 운영 현금 흐름은 $163,738에 달했습니다. 생산은 네 개의 유정에서 이루어졌습니다: Lindbergh 1(지분 37.5%), Lloyd 1(지분 18.75%), Lindbergh 2(지분 37.5%), Lloyd 2(지분 18.75%). Lloyd 2는 9월 중순에 생산을 시작했으며, 회사는 10월 말에 생산을 시작한 세 번째 Lindbergh 유정(지분 18.75%)에도 참여했습니다.
Argo Gold a rapporté ses résultats de production de pétrole pour septembre 2024, atteignant un total de 3 565 barils pour le mois, avec une moyenne de 118 barils par jour. L'entreprise a généré des recettes pétrolières de $241 198 avec un flux de trésorerie d'exploitation net de $163 738 à des prix moyens du pétrole de CDN$68 par baril. La production provient de quatre puits : Lindbergh 1 (intérêt de 37,5 %), Lloyd 1 (intérêt de 18,75 %), Lindbergh 2 (intérêt de 37,5 %) et Lloyd 2 (intérêt de 18,75 %). Lloyd 2 a commencé la production à la mi-septembre, et l'entreprise a participé à un troisième puits Lindbergh (intérêt de 18,75 %) qui a commencé sa production fin octobre.
Argo Gold hat seine Ergebnisse zur Ölproduktion im September 2024 veröffentlicht und dabei insgesamt 3.565 Barrel für den Monat erreicht, was einem Durchschnitt von 118 Barrel pro Tag entspricht. Das Unternehmen erzielte Öl-Einnahmen von $241.198 mit einem Nettobetrieb-Cashflow von $163.738 bei durchschnittlichen Ölpreisen von CDN$68 pro Barrel. Die Produktion stammt aus vier Bohrlöchern: Lindbergh 1 (37,5% Anteil), Lloyd 1 (18,75% Anteil), Lindbergh 2 (37,5% Anteil) und Lloyd 2 (18,75% Anteil). Lloyd 2 begann Mitte September mit der Produktion, und das Unternehmen war an einem dritten Lindbergh-Bohrloch (18,75% Anteil) beteiligt, das Ende Oktober in Produktion ging.
- Monthly oil revenue of $241,198
- Net operating cash flow of $163,738
- Expansion of production with new Lloyd 2 well
- Additional production capacity with new Lindbergh well
- None.
Toronto, Ontario--(Newsfile Corp. - November 7, 2024) - Argo Gold Inc's. (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("Argo" or the "Company") September 2024 oil production was a total of 3,565 barrels for the month, averaging 118 barrels per day. Oil prices averaged CDN
| September 2024 | Oil Production | Argo's interest | Argo's Oil Revenue | Argo's net operating cash flow |
| Lindbergh 1 ( | 102 bbl/day | 38 bbl/day | ||
| Lloyd 1 ( | 166 bbl/day | 31 bbl/day | ||
| Lindbergh 2 ( | 83 bbl/day | 31 bbl/day | ||
| Lloyd 2 ( | 97 bbl/day | 18 bbl/day | ||
| September 2024 Total | 118 bbl/day | |||
Lloyd 2 was drilled in late August, equipped in early September, and on production since mid-September. In October 2024, Argo participated for an
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.
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