Argo's March 2025 Oil Production

Rhea-AI Summary

Argo Gold Inc (ARBTF) reported its March 2025 oil production results, achieving a total output of 3,249 barrels for the month, averaging 105 barrels per day. With oil prices averaging CDN$65 per barrel, the company generated revenue of $211,595 and net operating cash flow of $112,770.

The company's production came from five wells: Lindbergh 1 (37.5% interest), Lloyd 1 (18.75% interest), Lindbergh 2 (37.5% interest), Lloyd 2 (18.75% interest), and Lindbergh 3 (18.75% interest). In April 2025, Argo paid an annual Alberta tax of $130,619 on its 2024 oil production on freehold lands.

Positive

• Revenue generation of $211,595 from oil production
• Positive net operating cash flow of $112,770
• Steady production across multiple wells with 105 bbl/day average

Negative

• Lloyd 2 well operating at a loss with negative cash flow of $1,440
• Significant annual tax payment of $130,619 on freehold lands
• Relatively low oil price environment at CDN$65 per barrel

News Market Reaction – ARBTF

-9.60%

1 alert

-9.60% News Effect

On the day this news was published, ARBTF declined 9.60%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Toronto, Ontario--(Newsfile Corp. - May 12, 2025) - Argo Gold Inc's. (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("Argo" or the "Company") March 2025 oil production was a total of 3,249 barrels for the month, averaging 105 barrels per day. Oil prices averaged CDN$65 per barrel and Argo's March oil revenue was $211,595 and net operating cash flow was $112,770.

March 2025	Oil Production	Argo's interest	Argo's Oil Revenue	Argo's net operating cash flow
Lindbergh 1 (37.5% interest)	103 bbl/day	39 bbl/day	$78,114	$43,967
Lloyd 1 (18.75% interest)	142 bbl/day	27 bbl/day	$53,608	$28,131
Lindbergh 2 (37.5% interest)	64.5 bbl/day	24 bbl/day	$48,860	$24,407
Lloyd 2 (18.75% interest)	5 bbl/day	1 bbl/day	$1,915	($1,440)
Lindbergh 3 (18.75% interest)	77 bbl/day	14 bbl/day	$29,097	$17,704
March 2025 Total		105 bbl/day	$211,595	$112,770

 

In April 2025, Argo paid an annual Alberta tax on its 2024 oil production on freehold lands of $130,619.

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/251731

FAQ

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

Argo Gold produced 3,249 barrels of oil in March 2025, averaging 105 barrels per day.

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

Argo Gold generated revenue of $211,595 with a net operating cash flow of $112,770 in March 2025.

What was the average oil price for Argo Gold in March 2025?

The average oil price for Argo Gold was CDN$65 per barrel in March 2025.

How many oil wells does Argo Gold (ARBTF) operate and what are their interests?

Argo Gold operates five wells: Lindbergh 1 and 2 (37.5% interest each), Lloyd 1 and 2 (18.75% interest each), and Lindbergh 3 (18.75% interest).

What was the Alberta tax payment made by ARBTF for 2024 oil production?

Argo Gold paid an annual Alberta tax of $130,619 in April 2025 for its 2024 oil production on freehold lands.