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Arrow Exploration Corp. (AIM: AXL) (TSXV: AXL,OTC:CSTPF) (“Arrow” or the “Firm”), the high-growth operator with a portfolio of property throughout key Colombian hydrocarbon basins, is happy to announce the submitting of its Interim Condensed (unaudited) Consolidated Monetary Statements and Administration’s Dialogue and Evaluation (“MD&A”) for the three and 9 months ended September 30, 2025, which can be found on SEDAR (www.sedar.com) and also will be accessible shortly on Arrow’s web site at www.arrowexploration.ca.
Q3 2025 Highlights:
- Common company manufacturing of 4,214 boe/d (Q3 2024: 4,124 boe/d).
- Recorded $18.5 million of complete oil and pure fuel income, internet of royalties.
- Realized company oil working netbacks(1) of $38.21/bbl.
- Money place of $6.3 million on the finish of Q3 2025.
- YTD generated working cashflows of $25 million.
- Drilled two extra growth wells within the Carrizales Norte (CN) area within the Tapir block, and an exploration nicely in Mateguafa Oeste (MO).
- Internet YTD earnings of $4.8 million.
(1)Non-IFRS measures – see “Non-IFRS Measures” part inside the MD&A
Publish Interval Finish Highlights:
- Drilled the Mateguafa Attic wells: Mateguafa-5 (M-5) and Mateguafa-6 (M-6), and spud the Mateguafa-7 Horizontal nicely (M-HZ7)
Money Stability:
On November 1, 2025, the Firm’s money steadiness was US$8.2 million. This displays an intensive interval of capital outlay because the Firm contracted a second rig throughout Q2 and Q3 and constructed entry roads and drill pads at Carrizales Norte, Mataguafa Oeste, Mataguafa Attic and preliminary works on the extremely potential Icaco challenge. The Firm has now reverted to working one rig, and the location preparation and seismic prices are largely met, this gives a basis for future growth and exploration actions., Each manufacturing and internet backs stay sturdy at present market costs.
Tapir Extension and COR-39 Block
The Firm is engaged in persevering with discussions with authorities on the Tapir block extension. Arrow considers that each one necessities for the extension have been met. Moreover, the Firm is in discussions with regulatory our bodies on the termination of COR-39 Block license obligations (the place exercise has been suspended since November 2017). Discussions with authorities are going nicely and Arrow will preserve the market up to date in future releases.
Upcoming Drilling
The Firm has spud the M-HZ7 nicely, which is predicted to be placed on manufacturing in mid-December 2025. Thereafter, the Firm expects to drill one other nicely at its Mateguafa Attic area and provoke civil works in preparation to drill its first exploration nicely within the Icaco prospect in Q1 2026.
Marshall Abbott, CEO of Arrow Exploration Corp., commented:
“The third quarter of 2025 has been very busy for Arrow. We accomplished two growth wells in Carrizales Norte and drilled the Mateguafa Oeste exploration nicely in addition to organising infrastructure for the invention at Mateguafa Attic and the upcoming exploration nicely at Icaco. The Mateguafa Attic discovery might change into a significant manufacturing platform and have a cloth influence on the Firm, and the Icaco prospect is one other close to time period catalyst that we anticipate will likely be drilled within the first quarter of 2026.”
“The Firm continues to work with regulatory authorities on the extension of the Tapir block. The Firm considers it has met the entire necessities for an extension and discussions with regulatory officers proceed to progress.”
“Arrow has invested closely into roads, pads and water infrastructure in each Q2 and Q3 and the outcomes could be seen with a major lower within the Firm’s working price in Q3 when in comparison with Q2 2025. This funding will proceed to payback over the lifetime of the Tapir pads.”
“The main target for the rest of 2025 will likely be to drill low danger wells on the Mateguafa Attic pad within the Tapir block and to get all preliminary works in place to drill our first exploratory nicely on the Icaco prospect.”
FINANCIAL AND OPERATING HIGHLIGHTS
| (in United States {dollars}, besides as in any other case famous) | Three months ended September 30, 2025 | 9 months ended September 30, 2025 |
Three months ended September 30, 2024 | ||||||
| Complete pure fuel and crude oil revenues, internet of royalties | 18,543,974 | 53,919,037 | 21,300,115 | ||||||
| Funds move from operations | 9,374,301 | 23,114,380 | 9,233,972 | ||||||
| Funds move from operations per share – | |||||||||
| Fundamental($) | 0.02 | 0.07 | 0.03 | ||||||
| Diluted ($) | 0.02 | 0.07 | 0.03 | ||||||
| Internet earnings | 3,089,684 | 4,818,714 | 6,668,493 | ||||||
| Internet earnings per share – | |||||||||
| Fundamental ($) | 0.01 | 0.02 | 0.02 | ||||||
| Diluted ($) | 0.01 | 0.02 | 0.02 | ||||||
| Adjusted EBITDA (1) | 10,843,377 | 28,644,904 | 15,961,900 | ||||||
| Weighted common shares excellent – | |||||||||
| Fundamental ($) | 285,864,348 | 285,864,348 | 285,864,348 | ||||||
| Diluted ($) | 289,719,564 | 292,991,907 | 288,921,950 | ||||||
| Frequent shares finish of interval | 285,864,348 | 285,864,348 | 285,864,348 | ||||||
| Capital expenditures | 9,287,571 | 35,437,959 | 6,945,779 | ||||||
| Money and money equivalents | 6,370,539 | 6,370,539 | 16,536,801 | ||||||
| Present Property | 17,259,451 | 17,259,451 | 23,230,243 | ||||||
| Present liabilities | 17,085,588 | 17,085,588 | 13,608,118 | ||||||
| Adjusted working capital(1) | 173,863 | 173,863 | 9,622,125 | ||||||
| Lengthy-term portion of restricted money | 152,617 | 152,617 | 176,094 | ||||||
| Complete property | 93,684,265 | 93,684,265 | 73,535,397 | ||||||
| Working | |||||||||
| Pure fuel and crude oil manufacturing, earlier than royalties | |||||||||
| Pure fuel (Mcf/d) | 1,306 | 1,579 | 461 | ||||||
| Pure fuel liquids (bbl/d) | 6 | 8 | 5 | ||||||
| Crude oil (bbl/d) | 3,990 | 3,752 | 4,042 | ||||||
| Complete (boe/d) | 4,214 | 4,023 | 4,124 | ||||||
| Working netbacks ($/boe) | |||||||||
| Pure fuel ($/Mcf) | ($1.76 | ) | ($1.36 | ) | ($1.48 | ) | |||
| Crude oil ($/bbl) | $ | 38.21 | $ | 37.08 | $ | 52.00 | |||
| Complete ($/boe) | $ | 35.72 | $ | 34.13 | $ | 50.76 |
DISCUSSION OF OPERATING RESULTS
Throughout Q3 2025, the Firm’s manufacturing has elevated, in comparison with the earlier two quarters, as a consequence of wells drilled within the Alberta Llanos and Rio Cravo Este fields approaching manufacturing. Manufacturing development is predicted to proceed because the Firm executes on the 2025 price range. In the course of the quarter, the Firm maintained good working outcomes and wholesome EBITDA.
Common Manufacturing by Property
| Common Manufacturing Boe/d | Q3 2025 | Q2 2025 | Q1 2025 | This fall 2024 | Q3 2024 | Q2 2024 | Q1 2024 | ||||||||||||||
| Oso Pardo | 103 | 131 | 126 | 154 | 180 | 113 | 166 | ||||||||||||||
| Ombu (Capella) | – | – | – | – | – | – | – | ||||||||||||||
| Rio Cravo Este (Tapir) | 1,065 | 996 | 1,118 | 1,178 | 1,078 | 1,283 | 1,644 | ||||||||||||||
| Carrizales Norte (Tapir) | 1,879 | 2,070 | 2,321 | 3,153 | 2,784 | 991 | 622 | ||||||||||||||
| Alberta Llanos | 943 | 296 | 205 | 26 | – | – | – | ||||||||||||||
| Complete Colombia | 3,990 | 3,493 | 3,770 | 4,511 | 4,042 | 2,387 | 2,432 | ||||||||||||||
| Fir, Alberta | 85 | 100 | 105 | 88 | 82 | 77 | 78 | ||||||||||||||
| Pepper, Alberta | 139 | 170 | 210 | 139 | – | 82 | 220 | ||||||||||||||
| KEHO, Alberta | – | 5 | – | – | – | – | – | ||||||||||||||
| TOTAL (Boe/d) | 4,214 | 3,768 | 4,085 | 4,738 | 4,124 | 2,546 | 2,730 |
The Firm’s common manufacturing for the three months ended September 30, 2025 was 4,214 boe/d which consisted of crude oil manufacturing in Colombia of three,990 bbl/d, pure fuel manufacturing of 1,306 Mcf/d, and minor quantities of pure fuel liquids. The Firm’s Q3 2025 manufacturing was marginally larger than its Q3 2024 manufacturing and 12% larger than Q2 2025 as a consequence of improve in manufacturing within the Alberta Llanos area.
DISCUSSION OF FINANCIAL RESULTS
Throughout Q3 2025,the Firm has skilled a discount in realized crude oil and fuel costs in contrast with the identical interval in 2024, as summarized under:
| Three months ended September 30 | |||||||||
| 2025 | 2024 | Change | |||||||
| Benchmark Costs | |||||||||
| AECO (C$/Mcf) | $ | 0.64 | $ | 0.70 | 146% | ||||
| Brent ($/bbl) | $ | 69.80 | $ | 72.87 | (4%) | ||||
| West Texas Intermediate ($/bbl) | $ | 64.95 | $ | 75.15 | (15%) | ||||
| Realized Costs | |||||||||
| Pure fuel, internet of transportation ($/Mcf) | $ | 0.50 | $ | 0.56 | (72%) | ||||
| Pure fuel liquids ($/bbl) | $ | 45.69 | $ | 61.24 | (19%) | ||||
| Crude oil, internet of transportation ($/bbl) | $ | 56.67 | $ | 65.35 | (13%) | ||||
| Company common, internet of transport ($/boe)(1) | $ | 53.90 | $ | 64.04 | (6%) | ||||
(1)Non-IFRS measure
OPERATING NETBACKS
The Firm additionally continued to understand good oil working netbacks, as summarized under:
| Three months ended September 30 | ||||||
| 2025 | 2024 | |||||
| Pure Fuel ($/Mcf) | ||||||
| Income, internet of transportation expense | $ | 0.50 | $ | 0.56 | ||
| Royalties | ($0.05 | ) | ($0.09 | ) | ||
| Working bills | ($2.22 | ) | ($1.95 | ) | ||
| Pure Fuel working netback(1) | ($1.76 | ) | ($1.48 | ) | ||
| Crude oil ($/bbl) | ||||||
| Income, internet of transportation expense | $ | 56.67 | $ | 65.35 | ||
| Royalties | ($6.57 | ) | ($7.44 | ) | ||
| Working bills | ($11.88 | ) | ($5.91 | ) | ||
| Crude Oil working netback(1) | $ | 38.21 | $ | 52.00 | ||
| Company ($/boe) | ||||||
| Income, internet of transportation expense | $ | 53.90 | $ | 64.04 | ||
| Royalties | ($6.24 | ) | ($7.28 | ) | ||
| Working bills | ($11.94 | ) | ($6.00 | ) | ||
| Company Working netback(1) | $ | 35.72 | $ | 50.76 | ||
(1)Non-IFRS measure
The working netbacks of the Firm have been affected in 2025 as a consequence of elevated water manufacturing from its Colombian property and decreased crude oil and pure fuel costs. Throughout Q3 2025, the Firm incurred $9 million of capital expenditure, primarily in reference to the drilling of extra growth wells within the Tapir block. This tempo is predicted to proceed through the the rest of 2025, funded by money readily available and cashflow.
About Arrow Exploration Corp.
Arrow Exploration Corp. (working in Colombia through a branches of its 100% owned subsidiary Arrow Exploration Switzerland GmbH) is a publicly traded firm with a portfolio of premier Colombian oil property which can be underexploited, under-explored and provide excessive potential development. The Firm’s marketing strategy is to develop oil manufacturing from a few of Colombia’s most lively basins, together with the Llanos, Center Magdalena Valley (MMV) and Putumayo Basin. The asset base is predominantly operated with excessive working pursuits, and the Brent-linked mild oil pricing publicity combines with low royalties to yield engaging potential working margins. Pursuant to sure non-public agreements entered between Arrow and its companion, Arrow is entitled to obtain 50% of the manufacturing from the Tapir block and has the proper to request approval to Ecopetrol S.A. for the project of fifty% of all rights, pursuits and obligations underneath the Tapir Affiliation Contract. Arrow is listed on the AIM market of the London Inventory Alternate and on TSX Enterprise Alternate underneath the image “AXL”.
Ahead-looking Statements
This information launch accommodates sure statements or disclosures regarding Arrow which can be primarily based on the expectations of its administration in addition to assumptions made by and knowledge at the moment accessible to Arrow which can represent forward-looking statements or data (“forward-looking statements”) underneath relevant securities legal guidelines. All such statements and disclosures, apart from these of historic reality, which tackle actions, occasions, outcomes, outcomes or developments that Arrow anticipates or expects could, might or will happen sooner or later (in entire or partly) ought to be thought of forward-looking statements. In some instances, forward-looking statements could be recognized by way of the phrases “proceed”, “anticipate”, “alternative”, “plan”, “potential” and “will” and comparable expressions. The forward-looking statements contained on this information launch mirror a number of materials components and expectations and assumptions of Arrow, together with with out limitation, Arrow’s analysis of the impacts of worldwide pandemics, the potential of Arrow’s Colombian and/or Canadian property (or any of them individually), the costs of oil and/or pure fuel, and Arrow’s marketing strategy to develop oil and fuel manufacturing and obtain engaging potential working margins. Arrow believes the expectations and assumptions mirrored within the forward-looking statements are cheap presently, however no assurance could be on condition that these components, expectations, and assumptions will show to be right.
The forward-looking statements included on this information launch will not be ensures of future efficiency and shouldn’t be unduly relied upon. Such forward-looking statements contain identified and unknown dangers, uncertainties and different components which will trigger precise outcomes or occasions to vary materially from these anticipated in such forward-looking statements. The forward-looking statements contained on this information launch are made as of the date hereof and the Firm undertakes no obligations to replace publicly or revise any forward-looking statements, whether or not on account of new data, future occasions or in any other case, except so required by relevant securities legal guidelines.
Neither TSX Enterprise Alternate nor its Regulation Providers Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this launch.
Glossary
Bbl/d or bop/d: Barrels per day
$/Bbl: {Dollars} per barrel
Mcf/d: Thousand cubic toes of fuel per day
Mmcf/d: Million cubic toes of fuel per day
$/Mcf: {Dollars} per thousand cubic toes of fuel
Mboe: Hundreds of barrels of oil equal
Boe/d: Barrels of oil equal per day
$/Boe: {Dollars} per barrel of oil equal
MMbbls: Million of barrels
BOE’s could also be deceptive notably if utilized in isolation. A BOE conversion ratio of 6 Mcf: 1 bblis primarily based on an vitality equivalency conversion methodology primarily relevant on the burner tip and doesn’t symbolize a price equivalency on the wellhead.
This Announcement accommodates inside data for the needs of the UK model of the market abuse regulation (EU No. 596/2014) because it kinds a part of United Kingdom home regulation by advantage of the European Union (Withdrawal) Act 2018 (“UK MAR”).
Non‐IFRS Measures
The Firm makes use of non-IFRS measures to guage its efficiency that are measures not outlined in IFRS. Working capital, funds move from operations, realized costs, working netback, adjusted EBITDA, and internet debt as offered do not need any standardized that means prescribed by IFRS and due to this fact might not be comparable with the calculation of comparable measures for different entities. The Firm considers these measures as key measures to display its capability to generate the money move essential to fund future development by means of capital funding, and to repay its debt, because the case could also be. These measures shouldn’t be thought of as a substitute for, or extra significant than internet earnings (loss) or money offered by working actions or internet loss and complete loss as decided in accordance with IFRS as an indicator of the Firm’s efficiency. The Firm’s willpower of those measures might not be akin to that reported by different corporations.
NOT FOR RELEASE, DISTRIBUTION, PUBLICATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.
To view the supply model of this press launch, please go to https://www.newsfilecorp.com/launch/276097
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