Argo's April 2025 Oil Production

Argo Gold reported its April 2025 oil production results, achieving a total output of 2,805 barrels for the month, averaging 93.5 barrels per day.

Rhea-AI Summary

Argo Gold reported its April 2025 oil production results, achieving a total output of 2,805 barrels for the month, averaging 93.5 barrels per day. With oil prices at CDN$60 per barrel, the company generated oil revenue of $167,959 and net operating cash flow of $95,374. The company's portfolio includes interests in multiple wells: Lindbergh 1 (37.5% interest), Lloyd 1 (18.75% interest), Lindbergh 2 (37.5% interest), Lloyd 2 (23.077% interest), and Lindbergh 3 (18.75% interest). Notably, Argo increased its operating interest in Lloyd 2 from 18.75% to 23.077%, now covering the entire General Petroleum oil formation, with the partnership paying $75,000 for the additional interest and a potential future bonus payment of $25,000 after 45,000 barrels of cumulative production.

Positive

• Generated positive net operating cash flow of $95,374 in April 2025
• Increased operating interest in Lloyd 2 to 23.077%, expanding coverage of the General Petroleum oil formation
• Maintained steady production across multiple wells with 93.5 bbl/day average

Negative

• Lloyd 2 well showed negative operating cash flow of -$546
• Relatively low oil price environment at CDN$60 per barrel
• Additional payment obligation of pro-rata share of $25,000 bonus after 45,000 barrels production

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Toronto, Ontario--(Newsfile Corp. - 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/255235

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What was Argo Gold's (ARBTF) oil production in April 2025?

Argo Gold produced 2,805 barrels of oil in April 2025, averaging 93.5 barrels per day.

How much revenue did ARBTF generate from oil production in April 2025?

Argo Gold generated oil revenue of $167,959 with net operating cash flow of $95,374 in April 2025.

What is Argo Gold's interest in the Lloyd 2 well after the recent increase?

Argo Gold increased its operating interest in Lloyd 2 to 23.077% from 18.75%, now covering the entire General Petroleum oil formation.

How much did Argo Gold pay for the increased interest in Lloyd 2?

The partnership paid $75,000 for the 18.75% interest, with Argo paying its pro-rata share, plus a potential $25,000 bonus after 45,000 barrels production.

What was the average oil price received by ARBTF in April 2025?

The average oil price received was CDN$60 per barrel in April 2025.