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Arrow Announces Appraisal Well M-8 Results
M-8 successfully drilled and on production Calgary, Alberta--(Newsfile Corp. - January 28, 2026)...
About this update from Arrow Exploration Corp.
[{"type":"text","content":"Arrow Announces Appraisal Well M-8 ResultsM-8 successfully drilled and on productionCalgary, Alberta--(Newsfile Corp. - January 28, 2026) - 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 the operational activity at the Mateguafa Attic field on the Tapir Block in the Llanos Basin of Colombia where Arrow holds a 50 percent beneficial interest. Mateguafa 8 wellThe Mateguafa 8 (M-8) well was spud on December 14, 2025, and reached target depth on December 18, 2025. The M-8 well was drilled, on time and on budget, to a total measured depth of 9,764 MD feet (9,308 feet true vertical depth) and encountered multiple hydrocarbon-bearing intervals, including the Gacheta, the Carbonera C9 formation (\"C9\") and three sands in the Carbonera C7 formation (\"C7\").Arrow began a testing program on the three C7 sands by initially putting all three sands on production and later isolating the top C7 sand. The two tests had uneconomic results, and the decision was made to complete the well in the C9 formation.Arrow has put the M-8 well on production in the C9 formation, which has approximately 30 feet of oil pay. The pay zone is a clean sandstone exhibiting an average porosity of 23% with high resistivities. An electric submersible pump (ESP) has been inserted in the well after perforating.The well was put on production at a heavily restricted rate, 21/128 choke and 30 Hz pump frequency, of approximately 230 BOPD gross (115 BOPD net). The oil quality is 31° API and there is a 78% water cut (completion fluid and formation water). The M-8 well also encountered approximately 12 feet of net oil pay (true vertical depth) in the Gacheta formation that has not been tested and will be exploited in future wells. The testing results indicate the well is capable of higher rates and the ultimate flow rate will be determined in the first few weeks of production. Initial production results are not necessarily indicative of long-term performance or ultimate recovery. Mateguafa HZ7 wellThe Mateguafa HZ7 (M-HZ7) continues to produce at a current rate of approximately 1,300 BOPD gross (650 BOPD net) with an 8% water cut. The M-HZ7 well is producing from the C9 formation. The well has experienced very low...