Argo Gold Reports April 2025 Oil Production and Revenue

Argo Gold Inc. reported April 2025 oil production of 2,805 barrels, averaging 93.5 barrels per day. Oil prices averaged CDN$60 per barrel, resulting in revenue of $167,959 and net operating cash flow of $95,374. The company recently increased its operating interest at Lloyd 2 to 23.077% from 18.75%.

Title: Argo Gold Inc. Reports April 2025 Oil Production and Revenue

Toronto, Ontario—Argo Gold Inc. (CSE: ARQ, OTC Pink: ARBTF, XFRA: A2ASDS, XSTU: A2ASDS, XBER: A2ASDS) recently reported its April 2025 oil production, achieving a total output of 2,805 barrels for the month, averaging 93.5 barrels per day. The company's oil revenue for the period was $167,959, with a net operating cash flow of $95,374. Notably, Argo Gold increased its operating interest at Lloyd 2 to 23.077% from 18.75%, now encompassing the entire General Petroleum oil formation at Lloyd [1].

Key Highlights

- Oil Production: Argo Gold's April 2025 oil production totaled 2,805 barrels, with an average daily production of 93.5 barrels.
- Revenue: The company generated $167,959 in oil revenue, with oil prices averaging CDN$60 per barrel.
- Net Operating Cash Flow: Argo Gold reported a net operating cash flow of $95,374 for the month.
- Operating Interest: The company increased its operating interest at Lloyd 2 to 23.077%, covering the entire General Petroleum oil formation. The partnership paid $75,000 for the additional interest, with Argo participating in the purchase for its pro-rata share. A one-time bonus of $25,000 is expected after 45,000 barrels of cumulative production [1].

Market Performance

Argo Gold's stock performance has been robust over the past few years. As of April 17, 2025, the company's trailing total returns stood at 23.08%, significantly outperforming the S&P/TSX Composite index's 1.74% return. Over the past year, Argo Gold's stock returned 5.88%, compared to the S&P/TSX Composite index's 11.71% return [3].

Forward-Looking Information

Argo Gold's management has indicated that the company is committed to expanding its oil production and exploring new opportunities. However, investors are cautioned that the company's forward-looking statements are subject to risks and uncertainties, including financing issues, drilling delays, and exploration success [1, 2].

Conclusion

Argo Gold Inc.'s April 2025 oil production and revenue figures reflect a strong performance in the oil sector. The company's strategic move to increase its operating interest at Lloyd 2 signals a commitment to growth and expansion. Investors should closely monitor the company's progress and consider the risks associated with forward-looking statements.

References

1. [1] https://www.theglobeandmail.com/investing/markets/stocks/ARQ-CN/pressreleases/28917396/argo-s-august-2024-oil-production/
2. [2] https://www.theglobeandmail.com/investing/markets/stocks/ARBTF/pressreleases/28437778/argo-s-july-2024-oil-production/
3. [3] https://au.finance.yahoo.com/quote/EDG.V/