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Arrow Exploration Corp T.AXL


Primary Symbol: V.AXL Alternate Symbol(s):  CSTPF

Arrow Exploration Corp. is a junior oil and gas company engaged in the acquisition, exploration and development of oil and gas properties in Colombia and Western Canada. The Company operates in Colombia via a branch of its wholly owned subsidiary Carrao Energy S.A., with a portfolio of Colombian oil assets that are underexploited and under-explored. It focuses on expanding oil production from Colombia's active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin. Its assets include Tapir Block, Santa Isabel (Oso Pardo), Capella Field, Pepper, and Fir. The Company owns a 50% working interest (WI) in Tapir Block with approximately 65,154 gross acres (32,577 acres net). The Oso Pardo Field is located in the Santa Isabel Block in the MMV Basin. Its 10% interest in the Ombu Block contains the Capella discovery. The Company holds a 100% operated WI in 37 sections of Montney P&NG rights on its Pepper asset in West Central Alberta.


TSXV:AXL - Post by User

Post by BuyUrShareson Sep 17, 2013 8:47am
338 Views
Post# 21744976

AXL will Now be Debt Free - Gotta Like That Now....

AXL will Now be Debt Free - Gotta Like That Now....Back in 2011....They Floated $46M in Debentures to s Syndicate of Underwriters to Pay Down Debt.

 $46 million principal amount of 7.25% convertible unsecured subordinated debentures due June 30, 2017 (the "Debentures"). The Debentures are convertible at the holder's option into common shares of the Company ("Common Shares") at a conversion price of $1.70 per Common Share, subject to adjustment in certain events. The Offering was underwritten by a syndicate of underwriters co-led by BMO Capital Markets and RBC Capital Markets, and which included Cormark Securities Inc., National Bank Financial Inc. and Scotia Capital Inc. The Offering includes the $40 million initial offering plus the exercise in full of a 15% over-allotment option by the Underwriters.

Net proceeds of the Offering will be approximately $43.86 million after commissions and expenses and will be initially used to pay down bank debt


Now Guess What ...AXL has Just Eliminated its Debt with the $82 Million asset sale....Looking Mighty Prospective from My Vantage Point Going Forward @ $0.18 per share.

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