Argo Gold Reports 71 BBL/Day Oil Production in July

Argo Gold Inc., a Canadian mineral exploration and development company that also produces oil, released its June oil production figures. The company's total oil production for July was 2,203 barrels, averaging 71 barrels per day at an average price of CAD$83 per barrel.

The breakdown by project shows Argo's interest in each well: Lindbergh 1 (37.5% interest) produced 39 bbl/day with revenue of $36,067 and net operating cash flow of $21,880; Lloyd 1 (18.75% interest) averaged 63 bbl/day with revenue of $30,480 and net operating cash flow of $15,037; Lindbergh 2 (37.5% interest) produced 9 bbl/day with revenue of $8,636 and net operating cash flow of $5,107; Lindbergh 3 (18.75% interest) averaged 72 bbl/day with revenue of $35,759 and net operating cash flow of $22,132; and Lloyd 2 (23.077% interest) produced 120 bbl/day with revenue of $71,509 and net operating cash flow of $55,573.

Overall, Argo's oil revenue for July was $182,443, while its net operating cash flow was $109,516.