Argo's Oil Update

Rhea-AI Summary

Argo Gold (OTC: ARBTF) reported oil production for Jan 1–Sep 30, 2025 of 24,003 barrels, averaging 88 barrels per day. Oil prices averaged CAD$68 per barrel, generating $1,631,714 in oil revenue and $913,157 in net operating cash flow for the period.

The company said Lloyd 2 collapsed after six weeks of Q4 2024 production and was shut down in June 2025 after months of minimal output. Low oil prices prevented a partial re‑drill of Lloyd 2 and delayed planned drilling of Lloyd 3 in 2025. Monthly totals show June–September production and revenue volatility, with July peak daily interest at 80 bbl/day and declines in August–September.

Positive

• Jan–Sep 2025 production of 24,003 barrels
• Average 88 barrels per day (Jan–Sep 2025)
• Oil revenue of $1,631,714 (Jan–Sep 2025)
• Net operating cash flow $913,157 (Jan–Sep 2025)

Negative

• Lloyd 2 collapsed and was shut down in June 2025
• Production dropped 18% from July to August (80 to 65.5 bbl/day)
• July–September oil revenue declined about 31% ($178,304 to $123,733)

Toronto, Ontario--(Newsfile Corp. - November 11, 2025) - Argo Gold Inc's. (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("Argo" or the "Company") 2025 oil production – January 1, 2025 to September 30, 2025 – was a total of 24,003 barrels, averaging 88 barrels per day. Oil prices averaged CAD$68 per barrel, and Argo's oil revenue was $1,631,714 and net operating cash flow was $913,157.

Lloyd 2 collapsed after six weeks of production in Q4 2024 and after 6 months of almost no oil production was shut down in June 2025. As a result of low oil prices, the partial re-drill of Lloyd 2 and the planned drilling of Lloyd 3 were not completed in 2025.

Monthly oil production for June, July, August and September 2025 are below.

June 2025	Oil Production	Argo's interest	Argo's Oil Revenue	Argo's net operating cash flow
Lindbergh 1 (37.5% interest)	72 bbl/day	27 bbl/day	$57,633	$28,394
Lloyd 1 (18.75% interest)	79 bbl/day	15 bbl/day	$31,603	$3,685
Lindbergh 2 (37.5% interest)	43 bbl/day	16 bbl/day	$33,343	$3,283
Lindbergh 3 (18.75% interest)	89 bbl/day	17 bbl/day	$33,490	$22,127
June 2025 Total		75 bbl/day	$156,069	$57,489

 

July 2025	Oil Production	Argo's interest	Argo's Oil Revenue	Argo's net operating cash flow
Lindbergh 1 (37.5% interest)	74 bbl/day	28 bbl/day	$62,098	$30,933
Lloyd 1 (18.75% interest)	81 bbl/day	15 bbl/day	$33,934	$27,754
Lindbergh 2 (37.5% interest)	56 bbl/day	21 bbl/day	$46,402	$29,699
Lindbergh 3 (18.75% interest)	86 bbl/day	16 bbl/day	$35,868	$23,956
July 2025 Total		80 bbl/day	$178,304	$112,342

 

August 2025	Oil Production	Argo's interest	Argo's Oil Revenue	Argo's net operating cash flow
Lindbergh 1 (37.5% interest)	47 bbl/day	18 bbl/day	$33,436	$7,106
Lloyd 1 (18.75% interest)	76 bbl/day	14 bbl/day	$28,896	$16,389
Lindbergh 2 (37.5% interest)	46.5 bbl/day	17.5 bbl/day	$37,982	$24,105
Lindbergh 3 (18.75% interest)	86 bbl/day	16 bbl/day	$32,647	$20,267
August 2025 Total		65.5 bbl/day	$132,961	$67,867

 

September 2025	Oil Production	Argo's interest	Argo's Oil Revenue	Argo's net operating cash flow
Lindbergh 1 (37.5% interest)	53 bbl/day	20 bbl/day	$37,333	$22,579
Lloyd 1 (18.75% interest)	76 bbl/day	14 bbl/day	$26,789	$14,740
Lindbergh 2 (37.5% interest)	43 bbl/day	16 bbl/day	$30,297	$17,955
Lindbergh 3 (18.75% interest)	83 bbl/day	15.5 bbl/day	$29,314	$18,202
September 2025 Total		65.5 bbl/day	$123,733	$73,475

 

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/273980

FAQ

What was Argo (ARBTF) total oil production Jan–Sep 2025?

Argo reported 24,003 barrels produced from January 1 to September 30, 2025.

How much oil revenue did Argo (ARBTF) record for Jan–Sep 2025?

Argo reported $1,631,714 in oil revenue for the period.

Why was Lloyd 2 shut down in June 2025 for Argo (ARBTF)?

Lloyd 2 collapsed after six weeks of Q4 2024 production and, after months of low output, was shut down in June 2025.

How did Argo's monthly production trend change in July–September 2025?

Argo's interest daily production peaked at 80 bbl/day in July then fell to 65.5 bbl/day in August and September.

What cash flow did Argo (ARBTF) generate from oil Jan–Sep 2025?

Argo reported $913,157 in net operating cash flow from oil for Jan–Sep 2025.

Did Argo complete re‑drill or Lloyd 3 drilling in 2025 (ARBTF)?

No; the partial re‑drill of Lloyd 2 and the planned Lloyd 3 drilling were not completed in 2025 due to low oil prices.