Argo's April 2025 Oil Production

2025-06-11 10:06:44

(MENAFN- Newsfile Corp) 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 and on Argo Gold's website at . Argo Gold is listed on the Canadian Securities Exchange ( ) (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) .

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