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Argo Gold Intends to Enter into Letters of Intent for Oil & Gas Exploration and Development06.06.2022 | 17:36 Uhr | Newsfile
Toronto, June 6, 2022 - As a result of an increase in oil and gas prices, world energy supply issues, and the abundance of oil and gas exploration and development opportunities in Canada, Argo Gold Inc. (CSE: ARQ) (OTCQB: ARBTF) (XFRA, XSTU, XBER: A2ASDS) ("Argo Gold") intends to enter into two letters of intent to earn into oil and gas exploration and development mineral lands. The mineral lands are two separate oil prospects in southern Alberta. Argo Gold will earn a 100% working interest in the prospect lands, subject to a gross overriding royalty (GOR) to the holder of the mineral lands, in exchange for drilling one test well per prospect. The oil prospects are seismically defined and are located within in a well-known producing trend with proven oil zones and surrounding infrastructure. Four additional well locations have been identified on the two prospects. Estimated yield on the two initial test well is estimated to be 100 bbl/day to 150 bbl/day in range and the estimated ultimate recovery (EUR) of the two initial wells is expected to be 275,000 bbl oil and 300,000 bbl oil respectively. About Argo Gold Argo Gold is a Canadian mineral exploration and development company. Information on Argo Gold can be obtained from SEDAR at www.sedar.com 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 (OTCQB: ARBTF) and (XFRA, XSTU, XBER: A2ASDS). For more information please contact: Judy Baker, CEO 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 To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126631 Dieser Artikel stammt von Rohstoff-Welt.de
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