Arq-Argo's November 2024 Oil Production

Company Overview - Argo Gold Inc. is a Canadian mineral exploration and development company, also involved in oil production [3] Oil Production Summary - In November 2024, Argo Gold produced a total of 3,597 barrels of oil, averaging 120 barrels per day [1] - The average oil price in November 2024 was CDN $72 per barrel, resulting in oil revenue of$ 258,042 and net operating cash flow of $153,014 [1] - December 2024 oil production was approximately 3,367 barrels, averaging 109 barrels per day [2] Production Breakdown - Lindbergh 1 (37.5% interest): 119 bbl/day production,$ 95,885 revenue, $66,832 net operating cash flow [1] - Lloyd 1 (18.75% interest): 159 bbl/day production,$ 64,230 revenue, $42,880 net operating cash flow [1] - Lindbergh 2 (37.5% interest): 65 bbl/day production,$ 52,177 revenue, $21,142 net operating cash flow [1] - Lloyd 2 (18.75% interest): 14 bbl/day production,$ 5,687 revenue, with a net operating cash flow of ( $4,861) [1] - Lindbergh 3 (18.75% interest): 99 bbl/day production,$ 40,063 revenue, $27,021 net operating cash flow [1] Operational Challenges - Lloyd 2 experienced a collapse in the horizontal well bore, leading to a significant drop in production to near zero after producing about 8,000 barrels from mid-September to late October [1] - Repair attempts for the operational well in November and December have not been successful, resulting in very low production levels [1]