Argo's January Oil Production

Executive Summary

• Argo Gold reported January 2026 oil production of 2,254 barrels (73 bbl/day) with revenue of $129,344 CAD and net operating cash flow of $80,891 CAD.
• The company completed a partial redrill of the collapsed Lloyd 2 well (23.077% interest), successfully bringing it back online.
• Argo Gold appointed Alex H. Falconer, CPA, CA, to its Advisory Board and granted 500,000 stock options at $0.12 per share to a consultant, exercisable through March 18 2029.

Key Details

• January 2026 Production & Financials
• Total oil production: 2,254 barrels (73 bbl/day).
• Average oil price: CAD $57/barrel.
• Oil revenue: $129,344 CAD.

• Net operating cash flow: $80,891 CAD.

• Well‑by‑Well Breakdown (Argo’s Interest)

• Lindbergh 1 – 37.5% interest → 98 bbl/day total; Argo’s share 37 bbl/day; revenue $63,759; cash flow $42,685.
• Lloyd 1 – 18.75% interest → 73 bbl/day total; Argo’s share 14 bbl/day; revenue $23,529; cash flow $14,415.
• Lindbergh 2 – 37.5% interest → 26 bbl/day total; Argo’s share 10 bbl/day; revenue $19,444; cash flow $10,363.

• Lindbergh 3 – 18.75% interest → 66 bbl/day total; Argo’s share 12 bbl/day; revenue $22,612; cash flow $13,428.

• Operational Update

• Completed partial redrill of Lloyd 2 (Argo interest 23.077%). The previously collapsed well is now back online and producing.

• Advisory Board Appointment

• Alex H. Falconer, CPA, CA, appointed to Argo Gold’s Advisory Board. He brings extensive board‑level experience in mineral resource and energy sectors.

• Equity Incentive Grant

• Granted an aggregate of 500,000 stock options to a company consultant.
• Exercise price: $0.12 per common share.
• Expiration date: March 18 2029.
• Shares issuable upon exercise are subject to a four‑month hold period from the grant date.

Notable Quotes

• Judy Baker, CEO: “Our January production and cash flow results demonstrate the resilience of our oil operations, while the successful redrill at Lloyd 2 underscores our commitment to maintaining asset integrity.”