Argo's January Oil Production

Rhea-AI Summary

Argo Gold (OTC: ARBTF) reported January 2026 oil production of 2,254 barrels, averaging 73 bbl/day. Oil prices averaged CAD$57 per barrel, generating $129,344 revenue and $80,891 net operating cash flow for the month.

The partial redrill of Lloyd 2 (Argo interest 23.077%) restored a collapsed well to production. Argo granted 500,000 options exercisable at $0.12 until March 18, 2029, and added Alex H. Falconer, CPA, CA, to its advisory board.

Positive

• January production totaled 2,254 barrels (73 bbl/day)
• Oil revenue of $129,344 with net operating cash flow $80,891
• Partial Lloyd 2 redrill successfully brought collapsed well back online
• Added Alex H. Falconer, CPA, CA to the advisory board

Negative

• Average oil price CAD$57 may limit near-term revenue upside
• Granted 500,000 options exercisable at $0.12, creating potential dilution

Toronto, Ontario--(Newsfile Corp. - March 18, 2026) - Argo Gold Inc's. (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("Argo" or the "Company") January 2026 oil production was 2,254 barrels, averaging 73 barrels per day. Oil prices averaged CAD$57 per barrel, and Argo's oil revenue was $129,344 and net operating cash flow was $80,891.

January 2026	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	$63,759	$42,685
Lloyd 1 (18.75% interest)	73 bbl/day	14 bbl/day	$23,529	$14,415
Lindbergh 2 (37.5% interest)	26 bbl/day	10 bbl/day	$19,444	$10,363
Lindbergh 3 (18.75% interest)	66 bbl/day	12 bbl/day	$22,612	$13,428
January 2026 Total		73 bbl/day	$129,344	$80,891

 

The partial redrill of Lloyd 2 (Argo's interest 23.077%) was recently completed and the collapsed oil well was successfully brought back online.

Argo Gold also announces that Alex H. Falconer, CPA, CA, has been appointed to the Advisory Board. Mr. Falconer has extensive board-level experience with public companies, particularly in the mineral resource and energy sectors. Mr. Falconer has been instrumental in guiding many private companies to public listings and has served as a Director and Chairman of Audit Committees for many publicly traded companies.

Argo Gold also announces that effective March 18, 2026, it has granted an aggregate of 500,000 options to purchase common shares of the Company exercisable at a price of $0.12 per share and expiring on March 18, 2029, to a consultant of the Company. The common shares issuable upon exercise of the options, are subject to a four-month hold period from the date of grant.

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 as well as OTC: ARBTF and XFRA, XSTU, 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/288980

FAQ

What was Argo Gold's (ARBTF) total oil production in January 2026?

Argo produced 2,254 barrels in January 2026, averaging 73 barrels per day. According to the company, the total reflects combined interests across Lindbergh and Lloyd properties and per-well contributions listed in the monthly breakdown.

How much revenue and cash flow did ARBTF generate from oil in January 2026?

Argo reported $129,344 in oil revenue and $80,891 net operating cash flow for January 2026. According to the company, those amounts result from January production at an average realized price of CAD$57 per barrel.

What happened with the Lloyd 2 well for Argo (ARBTF) in March 2026?

A partial redrill of Lloyd 2 (Argo interest 23.077%) was completed and the collapsed well was brought back online. According to the company, the work restored production capacity at that well.

What are the terms of the options Argo (ARBTF) granted on March 18, 2026?

Argo granted an aggregate of 500,000 options exercisable at $0.12 per share, expiring March 18, 2029, with a four-month hold period on underlying shares. According to the company, the grant was made to a consultant.

Who is Alex H. Falconer and why was he added to Argo's advisory board (ARBTF)?

Alex H. Falconer, CPA, CA, was appointed to Argo's advisory board for his public company and energy sector experience. According to the company, he brings board-level and audit committee expertise relevant to Argo's mineral and energy operations.