Arrow Announces Operational Update
Summary by AI BETAClose X
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OPERATIONAL UPDATE
RCE HZ10, CN HZ12, CN HZ13 and AB3 on production
CALGARY, September 9, 2025 - Arrow Exploration Corp. (AIM: AXL; TSXV: AXL) ("Arrow" or the "Company"), the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, is pleased to provide an update on recent operational activity on the Tapir Block in the Llanos Basin of Colombia where Arrow holds a 50 percent beneficial interest.
Highlights
- Four wells brought on production: so far in H2 2025:
o AB-3 vertical well recompletion brought on production on September 5, 2025, and currently producing 840 BOPD gross (420 BOPD net).
o CN HZ13 brought on production on August 28, 2025, and currently producing 1,002 BOPD gross (501 BOPD net).
o CN HZ12 brought on production on August 5, 2025, and currently producing 532 BOPD gross (266 BOPD net).
o RCE HZ10 brought on production on July 16, 2025, and currently producing 200 BOPD gross (100 BOPD net).
- Strong balance sheet, no debt or drilling commitments. Arrow has flexibility in its work program, with multiple drill ready pads, and is actively exploring potential acquisition opportunities.
Production
Total corporate production is currently over 4,800 boe/d net reflecting contributions from wells that have recently been brought on production from the RCE, AB and CN pads.
Additional production is expected to be added during the third and fourth quarters as Arrow focuses on a low-risk exploration activity which has the potential to increase Arrow's reserves base and build up drilling inventory. During Q2 the Company invested significantly in water disposal infrastructure with Tapir block water disposal capability now over 130,000 barrels of water per day, further enabling the Company to increase production.
Drilling Operations - Tapir Block
Carrizales Norte field
On the Carrizales Norte field, the Company has recently drilled two development wells from the CN pad.
The Carrizales Norte HZ12 (CN HZ12) well was spud on July 18, 2025, and reached target depth on August 2, 2025. CN HZ12 targeted the Ubaque zone at Carrizales Norte field. The well was drilled to a total measured depth of 10,929 MD feet (8,419 feet true vertical depth).
On August 5, 2025, Arrow put the CN HZ12 well on production in the Ubaque formation with a total horizontal oil-bearing section of 423 MD feet. CN HZ12 is producing at a stabilized rate of 532 BOPD gross (266 BOPD net) with a water cut of 75%.
The Carrizales Norte HZ13 (CN HZ13) well was spud on August 6, 2025, and reached target depth on August 23, 2025. CN HZ13 targeted the Ubaque zone at Carrizales Norte field. The well was drilled to a total measured depth of 11,232 MD feet (8,500 feet true vertical depth).
On August 28, 2025, Arrow put the CN HZ13 well on production in the Ubaque formation with a total horizontal oil-bearing section of 797 MD feet. CN HZ13 is producing at a stabilized rate of 1,002 BOPD gross (501 BOPD net) with a water cut of 32%.
RCE Field
The Rio Cravo Este 10 horizontal (RCE HZ10) well was spud on June 24, 2025, and reached target depth on July 12, 2025. RCE HZ10 targeted the Ubaque zone at Carrizales Norte field. The well was drilled to a total measured depth of 10,940 MD feet (8,014 feet true vertical depth).
On July 16, 2025, Arrow put the RCE HZ10 well on production in the Ubaque formation with a total oil- bearing section of 1,040 MD feet. RCE HZ10 is producing at a stabilized rate of 200 BOPD gross (100 BOPD net) with a water cut of 72%.
Alberta Llanos field
At the Alberta Llanos field, the Company has recently recompleted the AB-3 vertical well targeting the C7 formation.
On September 5, 2025, Arrow put the AB-3 well on production in the C7 formation which has approximately 20 feet (true vertical depth) of oil charged sandstone. AB-3 is producing 840 BOPD gross (420 BOPD net) with a water cut of 73% and continues to clean up load fluid.
Drilling Schedule
Currently the drilling rig is moving to the Mateguafa Oeste field to drill an exploration vertical well (MO-1). The well is expected to spud mid-September and is targeting the Ubaque reservoir. On the basis of a successful exploration well at MO-1, the Company plans to drill four additional horizonal wells on the prospect. The exploration of Mateguafa Attic, Icaco, Macoya and the Capullo prospects are expected to follow the Mateguafa Oeste development.
Marshall Abbott, CEO of Arrow commented:
"The Carrizales Norte field continues to deliver with successful wells CN HZ12 and CN HZ13. Both horizontal wells have further developed the Carrizales Norte field. The success of these two horizontal wells proves future development potential at Carrizales Norte."
"The RCE HZ10 well drilled into the Ubaque was a successful exploration target. The well is on production, however, the reservoir is tighter than at Carrizales Norte. The Company is exploring completion techniques that could results in higher production results in the Ubaque at RCE."
"The AB-3 recompletion at the Company's Alberta Llanos field is on production from the C7 and continuing to clean up. The original vertical well targeted the Ubaque and proved up the reservoir for the AB HZ4 and AB HZ5 wells. The C7 production is highly encouraging for future C7 development at both Alberta Llanos and the northern extent of the CN field."
"We appreciate the support of our longstanding shareholder base as well as the dedication of our talented staff."
For further Information, contact:
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Arrow Exploration |
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Marshall Abbott, CEO |
+1 403 651 5995 |
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Joe McFarlane, CFO |
+1 403 818 1033 |
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Canaccord Genuity (Nominated Advisor and Joint Broker) |
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Henry Fitzgerald-O'Connor James Asensio George Grainger |
+44 (0)20 7523 8000 |
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Auctus Advisors (Joint Broker) |
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Jonathan Wright |
+44 (0)7711 627449 |
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Rupert Holdsworth Hunt |
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Camarco (Financial PR) |
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Owen Roberts |
+44 (0)20 3781 8331 |
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Rebecca Waterworth |
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About Arrow Exploration Corp.
Arrow Exploration Corp. (operating in Colombia via a branches of its 100% owned subsidiary Arrow Exploration Switzerland GmbH) is a publicly traded company with a portfolio of premier Colombian oil assets that are underexploited, under-explored and offer high potential growth. The Company's business plan is to expand oil production from some of Colombia's most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin. The asset base is predominantly operated with high working interests, and the Brent-linked light oil pricing exposure combines with low royalties to yield attractive potential operating margins. Pursuant to certain private agreements entered between Arrow and its partner, Arrow is entitled to receive 50% of the production from the Tapir block and has the right to request approval to Ecopetrol S.A. for the assignment of 50% of all rights, interests and obligations under the Tapir Association Contract. Arrow is listed on the AIM market of the London Stock Exchange and on TSX Venture Exchange under the symbol "AXL".
Forward-looking Statements
This news release contains certain statements or disclosures relating to Arrow that are based on the expectations of its management as well as assumptions made by and information currently available to Arrow which may constitute forward-looking statements or information ("forward-looking statements") under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that Arrow anticipates or expects may, could or will occur in the future (in whole or in part) should be considered forward-looking statements. In some cases, forward-looking statements can be identified by the use of the words "continue", "expect", "opportunity", "plan", "potential" and "will" and similar expressions. The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of Arrow, including without limitation, Arrow's evaluation of the impacts of global pandemics, the potential of Arrow's Colombian and/or Canadian assets (or any of them individually), the prices of oil and/or natural gas, and Arrow's business plan to expand oil and gas production and achieve attractive potential operating margins. Arrow believes the expectations and assumptions reflected in the forward-looking statements are reasonable at this time, but no assurance can be given that these factors, expectations, and assumptions will prove to be correct.
The forward-looking statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Glossary
API: A specific gravity scale developed by the American Petroleum Institute (API) for measuring the relative density of various petroleum liquids, expressed in degrees.
BOPD: barrels of oil per day
boe/d: barrels of oil equivalent per day
MD Measured Depth
Qualified Person's Statement
The technical information contained in this announcement has been reviewed and approved by Grant Carnie, senior non-executive director of Arrow Exploration Corp. Mr. Carnie was formerly a member of the Canadian Society of Petroleum Geologists, holds a B.Sc. in Geology from the University of Alberta and has over 35 years' experience in the oil and gas industry.
This Announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").
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