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Arrow Announces Appraisal Well M-HZ7 Results
M-HZ7 successfully drilled and on production Calgary, Alberta--(Newsfile Corp. - December 18, 20...
About this update from Arrow Exploration Corp.
[{"type":"text","content":"Arrow Announces Appraisal Well M-HZ7 ResultsM-HZ7 successfully drilled and on productionCalgary, Alberta--(Newsfile Corp. - December 18, 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 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 HZ7 wellThe Mateguafa HZ7 (M-HZ7) well was spud on November 22nd, 2025, and reached target depth on December 4th, 2025. The M-HZ7 well was drilled, on time and on budget, to a total measured depth of 14,253 MD feet (8,440 feet true vertical depth) and encountered multiple hydrocarbon-bearing intervals.Arrow has put the M-HZ7 well on production in the Carbonera C9 formation (\"C9\"), which has approximately 4,053 feet of horizontal 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 M-HZ7 well also encountered approximately 20 feet of net oil pay (true vertical depth) in the Carbonera C7 formation (\"C7\"). The well was put on production at a heavily restricted rate, 25/128 choke and 30 Hz pump frequency, of approximately 1,694 BOPD gross (847 BOPD net). The oil quality is 30.6° API and there is a 4% water cut (completion fluid and formation water). The well is continuing to clean up.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 6 wellThe Mateguafa 6 well (M-6) continues to produce at approximately 772 BOPD gross (386 BOPD net) with a 4% water cut. The M-6 well is producing from the C7 formation. The well has experienced very low decline rates during this initial production phase.Mateguafa 5 wellThe Mateguafa 5 well (M-5) is currently shut in for a 7-day mandated pressure test. Before being shut in, the well was producing at approximately 800 BOPD gross (400 BOPD net) with a 30% water cut. The M-5 well is producing from the C9 formation. Management's expectations a...