Business
Operational Update and 2025 Year-End Reserves
Calgary, Alberta--(Newsfile Corp. - March 20, 2026) - Arrow Exploration Corp. (AIM: AXL) (TSXV: A...
About this update from Arrow Exploration Corp.
[{"type":"text","content":"Operational Update and 2025 Year-End ReservesCalgary, Alberta--(Newsfile Corp. - March 20, 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 give an operations update and announce the results of its 2025 year-end reserves evaluation by Boury Global Energy Consultants Ltd. (\"BouryGEC\").All reserves volume figures stated below are on a Working Interest Gross Reserve basis. Currency amounts are in United States dollars (unless otherwise indicated) and comparisons refer to December 31, 2024.Operational UpdateCurrent Drilling ScheduleThe Mateguafa 11 (M-11) well has been drilled to a total measured depth of 11,455 MD feet (9,328 feet true vertical depth) and has encountered oil bearing sands in the C7 and C9 Carbonera formations. The well encountered 18 feet (TVD) of net pay in the C7 and 30 feet (TVD) of net pay in the C9. Management is planning to perforate these sands and initially produce from the C7. Expectations are that the well will be on production in the coming weeks. The M-11 well found the two zones structurally higher than any of the other Mateguafa Attic wells. The M-11 results have extended the Mateguafa Attic structure to the south where more development wells will be drilled in the future. Due to the continued success at Mateguafa, Arrow now plans to continue development on the Mateguafa Attic field with a horizontal well targeting the C9 formation (M-12Hz). M-12Hz is expected to spud by the end of March. Following M-12Hz, the rig will then move to the Icaco pad to drill the Icaco 1 (I-1) exploration well. Arrow continues discussions on the Tapir license extension with regulatory authorities. Management believes these discussions are positive and beneficial to all parties and that the extension will ultimately be awarded to Arrow and our partner.ProductionCorporate production is approximately 5,325 boe/d. Arrow expects additional production from the M-11 well which is expected to come online in the coming weeks. 2025 Reserve OverviewArrow's 2025 reserves report shows steady performance with a significant amount of Arrow's produced volumes having been replaced by the Company's drilling campaign through the year. Importantly, BouryGEC reserves report's conservative oil price ...