Aroway Energy Inc. announced that the company has entered into an agreement to acquire oil producing assets from certain private vendors in Western Saskatchewan. The acquisition includes production of 265 barrels of oil per day, the wells and all surface facilities on 200 acres of land of which Aroway will own 100%. The purchase price for the producing assets is $2,769,000 with a scheduled closing of the acquisition on November 27, 2012.

The acquisition will be funded through the Company's credit facility and its current cash with an effective date of November 1, 2012. Key attributes of the acquisition: immediate production add of 265 barrels of oil per day; acquisition price of $10,450 per flowing barrel oil versus 2012 average of $44,083 per flowing barrel; upside potential through drilling 3 to 5 additional wells and facility upgrades; 100% Aroway owned & operated lands & production; and long term stable production.