Arrow Exploration Corp V.AXL

Alternate Symbol(s): CSTPF

Energy Oil & Gas E&P

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.

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Arrow Exploration Corp > From cfo

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Comment by EagleHasLandedon Apr 06, 2023 1:26pm

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Post# 35383431

RE:From cfo

Joe is always helpful, seems not bad, recovery of 53% is good.

I am including Giovanni (VP Engineering) on this email in case you have any follow up well/reserve questions.

EUR (well life) it is estimated at 550 MBbls of oil according to the reserves analysis (official values). That represents a recovery factor of 36%.

However, management’s estimates are a bit more optimistic with decline analysis, showing 750 MBbls with the actual data we have. We do not have much historical data but the data we have shows a 53% recovery factor.

In terms of years of production, average decline analysis shows production until 2042. 20 year wells more or less.

For your records

RCE-1 has recovered 341,000 bbls to date

RCE-2 has recovered 317,000 bbls to date

RCS-1 has recovered 155,000 bbls to date

Hope that helps.

Thanks

Joe

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