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M-5 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 property throughout key Colombian hydrocarbon basins, is happy to supply an replace on the operational exercise on the Mateguafa area on the Tapir Block within the Llanos Basin of Colombia the place Arrow holds a 50 % useful curiosity.
Mateguafa 5 nicely
The Mateguafa 5 nicely (M-5) nicely was spud on October 24th, 2025, and reached goal depth on October 30th, 2025. The M-5 nicely was the primary to be drilled into the Mateguafa Attic area after the procurement of the 3D seismic program shot in 2024, and outcomes from this nicely have confirmed the productive potential of the multi-pool area. The nicely was drilled, on time and on price range, to a complete measured depth of 10,560 MD toes (9,334 toes true vertical depth) and encountered a number of hydrocarbon-bearing intervals.
Arrow put the M-5 nicely on manufacturing within the Guadalupe formation, which has roughly 26 toes of internet oil pay (true vertical depth). The pay zone is a clear sandstone exhibiting a mean porosity of twenty-two% with excessive resistivities. An electrical submersible pump (ESP) has been inserted within the nicely after perforating.
The M-5 nicely additionally encountered roughly 11 toes of internet oil pay (true vertical depth) within the Carbonera C7 formation. Arrow plans to check this formation in future wells.
The nicely was placed on manufacturing at very restrictive operational parameters to permit the nicely clean-up and a correct water reduce analysis. Presently, the nicely is working at a pump frequency of 30 Hz and a choke aperture of 17/128.
Within the last 72 hours of the check, M-5 produced at a closely restricted fee, 17/128 choke and 30 Hz pump frequency, of roughly 570 BOPD gross (285 BOPD internet). The oil high quality is 31° API and there’s an 8% water reduce (completion fluid and formation water). The water reduce has been lowering all through the testing.
The testing outcomes point out the nicely is able to larger charges and the final word movement fee might be decided within the first few weeks of manufacturing.
Preliminary manufacturing outcomes are usually not essentially indicative of long-term efficiency or final restoration.
The nicely additionally encountered the Ubaque and Gacheta formations, nevertheless, these sands weren’t deemed to be business at this location.
Mateguafa 6
The Mateguafa 6 (M-6) nicely was spud on November 8th, 2025. The M-6 nicely will additional delineate the C7 and Guadalupe formations to develop a horizontal nicely program. The drilling, testing and completion of the nicely is anticipated to take three to 4 weeks from spud. The M-7 nicely is scheduled to be drilled instantly upon completion of the M-6 nicely.
2025 3D Program
The 2025 3D program has recognized a number of prospects with the Icaco prospect, within the southeast nook of the Tapir block, the primary one to be drilled in 2026. The Firm continues to progress the required licenses, permits and drilling pad with the expectation that the Icaco prospect might be drilled in mid Q1 2026. A number of hydrocarbon reservoirs are being focused on the Icaco prospect.
Manufacturing
Together with the restricted manufacturing from the M-5 nicely, whole company manufacturing is roughly 4,000 boe/d, in keeping with firm modeling.
Money Stability
On November 1, 2024, the Firm’s money stability was US$8.2 million reflecting the intensive, two rig drilling program that Arrow operated through the second quarter. The corporate continues to haven’t any debt.
Marshall Abbott, CEO of Arrow commented:
“Preliminary manufacturing from the M-5 discovery has exceeded expectations and is an thrilling occasion for Arrow. Along with the thick pay zones encountered on the Guadalupe formation, a further pay zone presently behind pipe, the C7, offers additional alternatives for manufacturing and reserves will increase.”
“The Mateguafa Attic discovery is materials to Arrow and we’re wanting ahead to the M-6 and M-7 outcomes which can additional develop this discovery and assist decide the extent of the swimming pools and the potential reserves additions. Preliminary outcomes point out that the invention will grow to be one other core space for Arrow with the potential for horizontal drilling improvement.”
“We look ahead to offering additional updates on this low-risk improvement drilling program.”
For additional Data, contact:
About Arrow Exploration Corp.
Arrow Exploration Corp. (working in Colombia by way of a department of its 100% owned subsidiary Carrao Power S.A.) is a publicly traded firm with a portfolio of premier Colombian oil property which might be underexploited, under-explored and provide excessive potential development. The Firm’s marketing strategy is to increase 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 gentle oil pricing publicity combines with low royalties to yield enticing potential working margins. By the use of a personal business 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 workforce is led by a hands-on govt workforce supported by an skilled board. Arrow is listed on the AIM market of the London Inventory Change and on TSX Enterprise Change underneath the image “AXL”.
Ahead-looking Statements
This information launch comprises sure statements or disclosures referring to Arrow which might be based mostly on the expectations of its administration in addition to assumptions made by and knowledge presently obtainable to Arrow which can represent forward-looking statements or data (“forward-looking statements”) underneath relevant securities legal guidelines. All such statements and disclosures, aside from these of historic truth, 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 might be recognized by way of the phrases “proceed”, “count on”, “alternative”, “plan”, “potential” and “will” and related expressions. The forward-looking statements contained on this information launch replicate 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 property (or any of them individually), the costs of oil and/or pure gasoline, and Arrow’s marketing strategy to increase oil and gasoline manufacturing and obtain enticing potential working margins. Arrow believes the expectations and assumptions mirrored within the forward-looking statements are cheap at the moment, however no assurance might be on condition that these components, expectations, and assumptions will show to be appropriate.
The forward-looking statements included on this information launch are usually 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 that 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, until so required by relevant securities legal guidelines.
Neither TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Change) accepts duty 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 Particular person’s Assertion
The technical data contained on this announcement has been reviewed and permitted 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 business.
This Announcement comprises inside data 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 legislation 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/274068
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