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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.


TSXV:AXL - Post by User

Arrow Exploration Corp > From Joe
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Comment by EagleHasLandedon Nov 29, 2023 11:52am
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Post# 35758745

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

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:From Joe
Part of the answer is timing.  We need to prepare a new pad to get the best results from the horizontal wells.  The new pad requires regulatory approvals, environmental studies, etc.  We hope to have a new pad ready for mid-March 2024.
 
Our plan is to drill 3 initial horizontal wells and review results.  If we are comfortable that the horizontal wells are the best economic way forward, we will be drilling further horizontal wells in 2024. 
 
The 2024 drilling program is fluid.  With good results at Carrizales Noroeste, Baquiano or Mateguafa Attic our budget could be expanded.  For the majority of 2024 we will have two rigs running.  We are looking at scenarios where a third rig is also deployed.
 
Hope that helps.
Joe
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