AveragePenny
1 month ago
$ARBTF $ARQ.C Argo's September 2024 Oil Production and Update
https://www.newsfilecorp.com/release/229167
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$68 per barrel and Argo's September oil revenue was $241,198 and net operating cash flow was $163,738.
Lloyd 2 was drilled in late August, equipped in early September, and on production since mid-September. In October 2024, Argo participated for an 18.75% interest in development drilling of a third oil well at Lindbergh that came on production in late October.
AveragePenny
2 months ago
$ARBTF $ARQ.C Argo's August 2024 Oil Production
https://www.newsfilecorp.com/release/225796/Argos-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.
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.
AveragePenny
3 months ago
$ARBTF Argo Oil Update
https://www.newsfilecorp.com/release/223596/Argo-Oil-Update
Toronto, Ontario--(Newsfile Corp. - September 17, 2024) - Argo Gold Inc. (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("Argo" or the "Company") participated at its pro rata interest of 18.75% in a second horizontal oil well at Lloyd in the General Petroleum (GP) Formation. Lloyd 2 was drilled in late August, equipped in early September, and is now on production. Lloyd 2 is participation in a fourth oil well for Argo; in addition to Lindbergh 1, Lloyd 1 and Lindbergh 2. Development drilling of a third oil well at Lindbergh is planned for Q4 2024.
AveragePenny
3 months ago
$ARBTF $ARQ.C Argo's July 2024 Oil Production
https://www.newsfilecorp.com/release/222641/Argos-July-2024-Oil-Production
Toronto, Ontario--(Newsfile Corp. - September 9, 2024) - Argo Gold Inc's. (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("Argo" or the "Company") July 2024 oil production was a total of 2,947 barrels for the month, averaging 95 barrels per day. Oil prices averaged CDN$81.79 per barrel and Argo's June oil revenue was $241,065 net operating cash flow was $161,982.
In late August, a second horizontal oil well at Lloyd was drilled and completed in the General Petroleum (GP) Formation. Argo's interest in the second oil well at Lloyd is 18.75%. Development drilling of a third oil well at Lindbergh is planned for Q4 2024.
AveragePenny
6 months ago
$ARBTF $ARQ.C Argo Announces Normal Course Issuer Bid
https://www.newsfilecorp.com/release/214294/Argo-Announces-Normal-Course-Issuer-Bid
Toronto, Ontario--(Newsfile Corp. - June 25, 2024) - Argo Gold Inc. (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("Argo" or the "Company") announces that it intends to initiate a normal course issuer bid ("NCIB") to purchase for cancellation, from time to time over a 12-month period starting June 27, 2024, common shares ("Common Shares") of the Company in an aggregate amount of up to 3,617,692 Common Shares, representing 5 percent of Argo's issued and outstanding Common Shares. The NCIB will end on June 26, 2025, unless the maximum number of Common Shares is purchased before then or Argo provides earlier notice of termination.
The board and management of the Company believes that the market price of the Common Shares may not fully reflect the value of its business and prospects, and as such believes that purchasing the Common Shares for cancellation is an appropriate strategy for increasing long-term shareholder value and represents an appropriate use of the Company's financial resources.
The purchase and payment for the Common Shares will be made by Argo through the facilities of the Canadian Securities Exchange ("CSE") or alternative trading systems. The price paid for the Common Shares will be, subject to the applicable laws, the prevailing market price of such Common Shares on the CSE at the time of such purchase. Any Common Shares purchased by the Company will be cancelled.
QuicKtip
10 months ago
#PressRelease: $ARQ.C $ARBTF Argo December 2023 Oil Production
Argo Gold Corp CEO Judy Baker joined Steve Darling from Proactive to discuss the company's strategic shift to the Canadian oil sector during a recent interview.
Facing evolving market dynamics and a lack of interest in the gold sector at the end of 2021, Argo Gold made a strategic decision to explore opportunities in the Canadian oil patch in early 2022.
The company recognized significant potential in the Canadian oil sector, particularly as major oil players were leaving the country. Argo Gold decided to focus on near-term oil production and actively pursued participation deals with Croverro Energy in the Lindbergh and Lloyd areas.
Baker highlighted the successful partnerships and collaborations that resulted in oil wells generating revenue and cash flow by the fall of 2023. This shift to the oil sector proved to be a strategic and prudent move for Argo Gold, aligning with market conditions and delivering tangible results.
Looking ahead to 2024, Argo Gold intends to maintain its involvement in the oil sector, with the potential for additional wells in the Lindbergh area. The company's commitment to the oil market is evident, and it plans to continue capitalizing on opportunities in this thriving sector.
Despite holding mining assets with gold potential, Baker emphasized the company's current emphasis on the oil market. Argo Gold's cautious approach to returning to gold projects reflects its commitment to making strategic decisions based on market dynamics and investor interest. Argo Gold's ability to adapt to changing market conditions and explore opportunities in different sectors demonstrates its agility and commitment to delivering value to its stakeholders.
Contact Details
Proactive Canada
Proactive Canada
+1 604-688-8158
action@proactiveinvestors.com
View source version on newsdirect.com: https://newsdirect.com/news/argo-golds-ceo-judy-baker-unveils-oil-sector-success-thriving-production-revenue-and-2024-plans-115969059
AveragePenny
1 year ago
$ARBTF $ARQ.C Argo's Lindbergh Oil Production for the Second Quarter 2023
https://www.newsfilecorp.com/release/176470
Toronto, Ontario--(Newsfile Corp. - August 8, 2023) - Argo Gold Inc.(CSE: ARQ) (OTCQB: ARBTF) (XFRA, XSTU, XBER: A2ASDS) ("Argo") announces its oil production results for the Lindbergh oil well including April, May and June 2023. Drilling commenced at the Lindbergh in mid-March 2023 and the oil well came online in late March 2023.
Argo also has a mutual area of interest at Lindbergh, whereby Argo can participate in additional oil wells for 37.5% of the production for 37.5% of the oil well cost. In the area proximal to the current Lindbergh oil well, there are drilling locations for five oil wells based on current seismic coverage.
Argo is currently completing a private placement of 12,000,000 shares at a price of $0.10 per share, for gross proceeds of up to $1,200,000. The proceeds of the financing will be used for participation in the Sparky oil wells at Lloyd and Lindbergh, and for general corporate purposes. Finder's fees may be payable to qualified individuals pursuant to which the finder may receive a finder's fee equal to 8% of the gross proceeds of the financing attributable to such finder.
AveragePenny
2 years ago
$ARBTF $ARQ.C Argo's Lindbergh Oil Production
https://www.newsfilecorp.com/release/168370/Argos-Lindbergh-Oil-Production
Toronto, Ontario--(Newsfile Corp. - June 1, 2023) - Argo Gold Inc. (CSE: ARQ) (OTCQB: ARBTF) (XFRA, XSTU, XBER: A2ASDS) ("Argo") announces that Argo's 37.5% share of the Lindbergh oil well in the Sparky started production in late March 2023. In April 2023, the Lindbergh well produced 115 barrels of oil per day, and Argo's 37.5% share of the production was 43.4 barrels of oil per day, generating revenue of $90,334 and $57,491 operating cash flow net to Argo.
Argo also has a mutual area of interest at Lindbergh, whereby Argo can participate in additional oil wells for 37.5% of the production for 37.5% of the oil well cost. In the area proximal to the current Lindbergh oil well, there are drilling locations for five oil wells based on current seismic coverage.
Argo is currently completing a private placement of 12,000,000 shares at a price of $0.10 per share, for gross proceeds of up to $1,200,000. The proceeds of the financing will be used for participation in the Sparky oil wells at Lloyd and Lindbergh, and for general corporate purposes. Finder's fees may be payable to qualified individuals pursuant to which the finder may receive a finder's fee equal to 8% of the gross proceeds of the financing attributable to such finder.
AskMuncher
4 years ago
$ARBTF Argo Gold Enters into Agreement to Sell the McVicar Lake Gold Project
Press Release | 11/13/2020
November 13, 2020
OTC Disclosure & News Service
Toronto, ONT, Canada —
This release includes additional documents. Select the link(s) below to view.
2020-11-12-Argo Gold Enters into Agreement to Sell the McVicar Lake Gold Project.pdf
Toronto, CANADA, November 12, 2020 Argo Gold Inc. (Argo Gold or the Company) (CSE: ARQ) has entered into an agreement with Cross River Ventures Corp. ("Cross River") pursuant to which Argo Gold has agreed to sell its 100% interest in 133 unpatented mining claims comprising its McVicar Lake Gold Property located in the Patricia Mining Division to Cross River. Pursuant to the terms of the agreement the Company has agreed to sell the McVicar Lake Gold Property in exchange for CDN$200,000, 2.5 million shares of Cross River issued to Argo Gold, and a 2% net smelter return royalty (the "Royalty") in favour of Argo Gold on the McVicar Lake Gold Property. Cross River can purchase 1% of the Royalty (so that the remaining Royalty is equal to 1%) from Argo Gold for the sum of CDN$1,000,000. Completion of the transaction will be subject to receipt of all necessary consents and regulatory approvals.
About Argo Gold Inc.
Argo Gold is a Canadian mineral exploration and development company, focused on gold exploration projects in central and northwestern Ontario. Argo Gold recently added the Talbot Lake Gold Project to its portfolio. (Argo Gold PR, June 11 2020). Information on Argo Gold can be obtained from SEDAR at www.sedar.com and on the Companys website at www.argogold.ca. Argo Gold is listed on the Canadian Securities Exchange (www.thecse.com) under the ticker ARQ, on the OTC under the ticker ARBTF and on the FSE under P3U.
For more information please contact:
Judy Baker, CEO
(416) 786-7860
jbaker@argogold.ca
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 delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Companys 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
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