Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/aroway-energy-executes-farm-in-at-kerrobert-area-o.shtmlAroway Energy executes farm-in at Kerrobert area of Central Saskatchewan
Aroway Energy has entered into a Farmout Agreement dated August 30, 2013 with a private oil and gas Company (Privco),
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Aroway Energy has entered into a Farmout Agreement dated August 30, 2013 with a private oil and gas Company (Privco), pursuant to which Privco has agreed to Farmout a 100% interest in 9 sections (5,760 acres) (the "Farmout Lands") in the Kerrobert area of Central Saskatchewan.
Pursuant to the Farmout Agreement Aroway will fund 100% of the costs to shoot, process and interpret a 3D seismic program and drill a vertical test well. Upon favorable results of the vertical test well, Aroway has agreed to drill, case and complete two (2) horizontal wells. Aroway Energy will earn a 100% working interest in the Farmout Lands subject to a 12% Gross Overriding Royalty payable to the Privco.
