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M-HZ7 efficiently drilled and on manufacturing
Arrow Exploration Corp. (AIM: AXL) (TSXV: AXL,OTC:CSTPF) (“Arrow” or the “Firm”), the high-growth operator with a portfolio of belongings throughout key Colombian hydrocarbon basins, is happy to offer an replace on the operational exercise on the Mateguafa Attic subject on the Tapir Block within the Llanos Basin of Colombia the place Arrow holds a 50 p.c helpful curiosity.
Mateguafa HZ7 nicely
The Mateguafa HZ7 (M-HZ7) nicely was spud on November twenty second, 2025, and reached goal depth on December 4th, 2025. The M-HZ7 nicely was drilled, on time and on finances, to a complete measured depth of 14,253 MD ft (8,440 ft true vertical depth) and encountered a number of hydrocarbon-bearing intervals.
Arrow has put the M-HZ7 nicely on manufacturing within the Carbonera C9 formation (“C9”), which has roughly 4,053 ft of horizontal oil pay. The pay zone is a clear sandstone exhibiting a median porosity of 23% with excessive resistivities. An electrical submersible pump (ESP) has been inserted within the nicely after perforating.
The M-HZ7 nicely additionally encountered roughly 20 ft of internet oil pay (true vertical depth) within the Carbonera C7 formation (“C7”).
The nicely was placed on manufacturing at a closely restricted price, 25/128 choke and 30 Hz pump frequency, of roughly 1,694 BOPD gross (847 BOPD internet). The oil high quality is 30.6° API and there’s a 4% water reduce (completion fluid and formation water). The nicely is constant to scrub up.
The testing outcomes point out the nicely is able to increased charges and the final word circulation price can be decided within the first few weeks of manufacturing.
Preliminary manufacturing outcomes usually are not essentially indicative of long-term efficiency or final restoration.
Mateguafa 6 nicely
The Mateguafa 6 nicely (M-6) continues to provide at roughly 772 BOPD gross (386 BOPD internet) with a 4% water reduce. The M-6 nicely is producing from the C7 formation. The nicely has skilled very low decline charges throughout this preliminary manufacturing part.
Mateguafa 5 nicely
The Mateguafa 5 nicely (M-5) is presently shut in for a 7-day mandated stress check. Earlier than being shut in, the nicely was producing at roughly 800 BOPD gross (400 BOPD internet) with a 30% water reduce. The M-5 nicely is producing from the C9 formation. Administration’s expectations are that the nicely will resume manufacturing at related charges after the stress check is full. The rise within the manufacturing price from this nicely for the reason that nicely outcomes have been introduced in November is because of the nicely cleansing up after the unique manufacturing interval.
Mateguafa 8 nicely
The Mateguafa 8 (M-8) nicely was spud on December 14th, 2025. This nicely is focusing on the C7 formation, which all wells drilled at Mateguafa have encountered. Expectations are that the nicely will take roughly two weeks to drill and full and can be put onto manufacturing in late December.
Ahead Drilling Plans
After the M-8 nicely is placed on manufacturing the corporate plans to drill the Mateguafa 9 (M-9) nicely which can be drilled as a delineation nicely for use for water disposal. Arrow then plans to drill further horizontal and vertical improvement wells into the Mateguafa subject earlier than transferring the rig to Icaco for a primary exploration nicely.
Manufacturing
Together with the restricted manufacturing from the M-HZ7 nicely, complete company manufacturing is roughly 4,510 boe/d. This doesn’t embody any manufacturing from the M-5 nicely which was flowing at roughly 800 BOPD gross (400 BOPD internet) earlier than being shut in and is anticipated to renew manufacturing shortly.
Marshall Abbott, CEO of Arrow, commented:
“The M-HZ7 nicely was drilled on time and on finances and preliminary manufacturing has exceeded expectations. Along with the thick pay zone encountered within the C7 formation, presently behind pipe, the C9 formation has confirmed to be a wonderful producing zone into which the Firm plans to drill further horizontal wells.
“The M-HZ7 nicely reinforces the materiality that the Mateguafa Attic discovery represents for Arrow. Future wells will assist decide the extent of the swimming pools and the potential reserves additions. The world has positively was one other core space for Arrow with the potential for additional horizontal drilling improvement.
“M-9 would be the closing nicely drilled within the 2025 program. This huge step-out nicely’s main function is to turn into a water disposal nicely for the Mateguafa space. The nicely is being situated exterior the estimated extent of the pool, however may turn into a producing nicely if the pool extends past seismic interpretation. We stay up for offering additional updates on the low-risk ongoing improvement of the Mataguafa Attic subject.”
About Arrow Exploration Corp.
Arrow Exploration Corp. (working in Colombia through a department of its 100% owned subsidiary Carrao Vitality S.A.) is a publicly traded firm with a portfolio of premier Colombian oil belongings which can be underexploited, under-explored and supply excessive potential development. The Firm’s marketing strategy is to develop oil manufacturing from a few of Colombia’s most energetic 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 enticing potential working margins. By means of a personal industrial contract with the acknowledged curiosity holder earlier than Ecopetrol S.A., Arrow is entitled to obtain 50% of the manufacturing from the Tapir block. The formal task to the Firm is topic to Ecopetrol’s consent. Arrow’s seasoned crew is led by a hands-on government crew supported by an skilled board. Arrow is listed on the AIM market of the London Inventory Trade and on TSX Enterprise Trade below the image “AXL”.
Ahead-Trying Statements
This information launch incorporates 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 presently out there to Arrow which can represent forward-looking statements or info (“forward-looking statements”) below relevant securities legal guidelines. All such statements and disclosures, apart from these of historic truth, which deal with actions, occasions, outcomes, outcomes or developments that Arrow anticipates or expects could, may or will happen sooner or later (in entire or partly) ought to be thought-about forward-looking statements. In some instances, forward-looking statements might be recognized by way of the phrases “proceed”, “anticipate”, “alternative”, “plan”, “potential” and “will” and related 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 COVID-19, the potential of Arrow’s Colombian and/or Canadian belongings (or any of them individually), the costs of oil and/or pure gasoline, and Arrow’s marketing strategy to develop oil and gasoline manufacturing and obtain enticing potential working margins. Arrow believes the expectations and assumptions mirrored within the forward-looking statements are affordable right now, however no assurance might be on condition that these components, expectations, and assumptions will show to be right.
The forward-looking statements included on this information launch usually are not ensures of future efficiency and shouldn’t be unduly relied upon. Such forward-looking statements contain recognized 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 because of new info, future occasions or in any other case, until so required by relevant securities legal guidelines.
Neither TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this launch.
Glossary
| API: | A particular gravity scale developed by the American Petroleum Institute (API) for measuring the relative density of varied petroleum liquids, expressed in levels. |
| BOPD: | barrels of oil per day |
| boe/d: | barrels of oil equal per day |
Certified Individual’s Assertion
The technical info contained on this announcement has been reviewed and authorized by Grant Carnie, senior non-executive director of Arrow Exploration Corp. Mr. Carnie was previously a member of the Canadian Society of Petroleum Geologists, holds a B.Sc. in Geology from the College of Alberta and has over 35 years’ expertise within the oil and gasoline trade.
This Announcement incorporates inside info for the needs of the UK model of the market abuse regulation (EU No. 596/2014) because it varieties a part of United Kingdom home regulation by advantage of the European Union (Withdrawal) Act 2018 (“UK MAR“).
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/278405
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