Toronto, June 11, 2025 - Argo Gold Inc.'s. (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("Argo" or the "Company") April 2025 oil production was a total of 2,805 barrels for the month, averaging 93.5 barrels per day. Oil prices averaged CDN$60 per barrel and Argo's March oil revenue was $167,959 and net operating cash flow was $95,374.
April 2025
Oil Production
Argo's interest
Argo's Oil Revenue
Argo's net operating cash flow
Lindbergh 1 (37.5% interest)
98 bbl/day
37 bbl/day
$66,173
$39,084
Lloyd 1 (18.75% interest)
131 bbl/day
25 bbl/day
$44,057
$26,331
Lindbergh 2 (37.5% interest)
47 bbl/day
18 bbl/day
$31,833
$17,968
Lloyd 2 (23.077% interest)
5 bbl/day
1 bbl/day
$1,628
-$546
Lindbergh 3 (18.75% interest)
72 bbl/day
13.5 bbl/day
$24,268
$12,537
April 2025 Total
93.5 bbl/day
$167,959
$95,374
Argo recently increased its operating interest at Lloyd 2 to 23.077% from 18.75% whereby Argo's 23.077% interest now encompasses the entire General Petroleum oil formation at Lloyd. The partnership has paid the seller $75,000 for its 18.75% interest in the General Petroleum oil formation at Lloyd, of which Argo has participated in the purchase for its pro-rata share. After cumulative production of 45,000 barrels of oil, the partnership would pay the seller a one-time bonus of $25,000 where Argo would pay its pro-rata share.
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) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (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.
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