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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Comment by deeton Mar 15, 2024 8:16am

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Post# 35934438

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

EagleHasLanded wrote:
We met with the new ANH President when we were in Bogota last month. This is the 3rd ANH President in the last two years.

He is very supportive and said he would help us with the process. The ANH wants the process to move forward because the extension will create jobs for the community in the Oso Pardo area.

The hold up continues to be ConocoPhillips. So far they have been unable/unwilling to write a letter stating that our shallow oil project will not interfere with their deep La Luna rights. ConocoPhillips has told us that they are waiting for the anti fracking legislation to be passed by congress so they can best understand their options in regards to their La Luna mineral rights.

Our Director, who is a member of the Canacol executive team, seems to be making progress in his discussions with ConocoPhillips. Canacol is a partner with ConocoPhillips in the VMM2 block La Luna project.

We are still expecting a positive conclusion to the process but can not confidently put a time line on receiving the extension approval.

If news does come out of recent discussions we will let investors know.

Thanks

Joe