Arrow Announces Asset Acquisition

摘要

Arrow Energy Ltd. intends to enter into an asset acquisition from a company controlled by Robyn Lore, president of the company.The company plans to acquire a 50% working interest in a wellbore at 11-26-29-27 W4M. Subject to regulatory approval, the company intends to issue 1.46 million common shares at a price of five cents per share for total consideration of $73,000. The value paid for this asset is supported by a proved plus probable net present value 10% valuation completed by the company's independent reserve engineers effective as of June 30, 2009.