2009-08-10-2008-05-01

To buy assets in Gift Lake area, gaining 97 BOE/d.

Arrow Energy Ltd., Calgary, (Toronto Venture: AOF) plans to acquire a producing property near its Peavine core area in northern Alberta from an undisclosed private company for C$4.1 million. The assets are in the Gift Lake area. Production is approximately 97 barrels of oil equivalent per day (94% oil). This will bring Arrow's current output to approximately 300 barrels of oil equivalent per day.