Skip to content

Argo Update – 2023 is a Wrap – March 1 2024 [EN]

Argo finished calendar 2023 with an ownership interest in 3 operating oil wells in the Lloydminster area of Alberta, Canada.

During 2023, Argo invested capital of CDN $1.8 million to participate in the development drilling of 3 new horizontal oil wells into the Sparky formation.

All 3 oil wells were successfully drilled, completed, equipped, and brought on production.

Argo’s total oil production for 2023 was 17,533 barrels oil generating 2023 oil revenue of $1.17 million and a net operating cash flow total of $ 0.82 million for 2023.

Argo’s 2023 monthly oil revenue and net operating cash flow is summarized below.  Net operating cash flow is net of royalties and production costs.

 

LINDBERGH 1 Lindbergh 1 Oil Production Argo’s 37.5% interest Argo’s Oil Revenue Argo’s net operating cash flow
March 2023 26.5 bbl/day 10 bbl/day $16,180 $6,921
April 2023 97 bbl/day 36.3 bbl/day $75,622 $44,964
May 2023 110 bbl/day 41.3 bbl/day $84,327 $55,817
June 2023 132 bbl/day 49.6 bbl/day $97,483 $70,696
July 2023 130 bbl/day 48.7 bbl/day $115,890 $80,262
August 2023 130.5 bbl/day 48.9 bbl/day $130,461 $91,292
September 2023 115 bbl/day 43.4 bbl/day $115,536 $83,068
October 2023 124.5 bbl/day 46.7 bbl/day $114,189 $76,384
November 2023 88 bbl/day 33 bbl/day $60,562 $37,586
December 2023 110 bbl/day 41.2 bbl/day $53,832 $31,928
LLOYD Lloyd Oil Production Argo’s 18.75% interest Argo’s Oil Revenue Argo’s net operating cash flow
October 2023 217.3 bbl/day 40.7 bbl/day $103,648 $91,266
November 2023 242 bbl/day 45.3 bbl/day $89,209 $78,752
December 2023 227 bbl/day 42.5 bbl/day $61,388 $52,758
LINDBERGH 2 Lindbergh 2 Oil Production Argo’s 37.5% interest Argo’s Oil Revenue Argo’s net operating cash flow
December 2023 119 bbl/day 44.6 bbl/day $57,806 $21,842
ARGO’s 2023 SUMMARY
2023 Capital Investment 2023 Total Oil Production 2023 Oil Revenue 2023 Net Operating Cash Flow
CDN $1.8 Million 17,533 barrels $ 1.17 Million $ 0.82 Million
  • Argo is participating at Lindbergh and Lloyd with Croverro Energy – An Expert Oil Explorer and Operator
  • Expert Oil & Gas Consultants based in Calgary
  • Argo is an Alberta Energy Licensee
  • Significant Oil Opportunities in Canada
  • Argo has a Growth Agenda with plans to continue to participate in development drilling of oil wells in the second half of 2024.

Argo Gold is also the 100% owner of two gold projects in northwestern Ontario; the Uchi Gold Project and the Talbot Lake Gold Project.

Argo Gold currently has 72 M shares outstanding.  Institutions and insiders own 50% of the shares outstanding.  The current $6 million market capitalization is a compelling opportunity.

CSE: ARQ, OTC: ARBTF and XFRA, XSTU, XBER: A2ASDS

www.argogold.com

Judy Baker
CEO, Argo
(416) 786-7860
jbaker@argogold.ca

Pourquoi investir à Argo Gold ?

Argo Gold recherche des projets pétroliers et gaziers économiquement intéressants dans l’Ouest canadien

Argo Gold fait progresser son projet aurifère Uchi Lake détenu à 100% dans le district de Red Lake

À l’issue du dernier financement, Eric Sprott est désormais le premier actionnaire d’Argo Gold avec un capital de 19%

Argo Gold (CSE: ARQ) possède 69,7 millions d’actions en circulation et une capitalisation boursière de sept millions de dollars US

Back To Top