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Arrow Exploration Corp 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

Comment by EagleHasLandedon Oct 19, 2023 1:15pm
146 Views
Post# 35691213

RE:RE:RE:RE:RE:RE:From Joe

RE:RE:RE:RE:RE:RE:From Joe In Colombia there is a moratorium on fracking.  The Petro government is also pushing through new anti-fracking legislation that will make fracking in Colombia illegal.  This may change in the future with new governments; however, we are not pursuing any unconventional plays in Colombia at this time.
 
Currently, we do not have plans to test zones other than the Umir with the two 2023 Oso Pardo drills.  Exploration may take place once Arrow is granted an extension.  We met again with the ANH on this matter earlier this month in Bogota.  The ANH is very positive on the extension, and they want the investment in the community.  The holdup seems to be finalizing the anti-fracking legislation.  It does seem that the legislation is moving forward, it is just taking time. 
 
Hope that helps.
 
Thanks
Joe
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