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 > News from CFO

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Comment by EagleHasLandedon Jun 03, 2023 11:22am

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Post# 35478427

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:News from CFO

From helpful Joe:

We looked at a second rig as well and it is a possibility. We need to make sure we keep operating within cash flow as we do not want to dilute shareholders.

After we complete the 3 wells at Carizales Norte we will need to extend the pad and dig additional cellars. Once those are complete we hope to move the rig back to CN and begin a drilling campaign which will extend into 2024.

Updates to come.

Thanks

Joe

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