Aroway Energy Inc. (TSXV:ARW) filed a notice of intention and received approval from the TSX Venture Exchange for a normal course issuer bid on March 12, 2012. Under the program, the company will repurchase up to 2,715,058 shares, representing up to 5% of the common stock issued and outstanding as at February 27, 2012. The company will pay the market price of the shares at the time of acquisition. The repurchases will be made by way of open market purchases through the facilities of the TSX Venture Exchange. All shares purchased by the company will be subsequently cancelled. The program will be valid till March 11, 2013 or earlier if the number of shares sought in the normal course issuer bid has been obtained. The company reserves the right to terminate the bid earlier if it determines such action to be appropriate. Till December 31, 2012, the company has repurchased 375,000 shares, representing 0.69% for CAD 0.21 million. Jordon Capital markets Inc. acted as the broker on the buyback transaction.

Aroway Energy Inc.'s normal course issuer bid expired on March 11, 2013.