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Arrow Announces Appointment of NOMAD and Joint Broker

V.AXL

Calgary, Alberta--(Newsfile Corp. - July 22, 2022) - Arrow Exploration Corp. (AIM: AXL) (TSXV: AXL) ("Arrow" or the "Company") the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, is pleased to announce that further to the announcement of Canaccord Genuity Limited ("Canaccord") as its Nominated Adviser on 28 April 2022, Canaccord has confirmed that it has completed satisfactorily its due diligence. Accordingly, a Nominated Adviser Declaration has been submitted to AIM in accordance with the AIM Rules.

About Arrow Exploration Corp.

Arrow Exploration Corp. (operating in Colombia via a branch of its 100% owned subsidiary Carrao Energy S.A.) is a publicly-traded company with a portfolio of premier Colombian oil assets that are under-exploited, under-explored and offer high potential growth. The Company's business plan is to expand oil production from some of Colombia's most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin. The asset base is predominantly operated with high working interests, and the Brent-linked light oil pricing exposure combines with low royalties to yield attractive potential operating margins. Arrow's 50% interest in the Tapir Block is contingent on the assignment by Ecopetrol SA of such interest to Arrow. Arrow's seasoned team is led by a hands-on executive team supported by an experienced board. Arrow is listed on the AIM market of the London Stock Exchange and on TSX Venture Exchange under the symbol "AXL".

Information required under Schedule 2g of the AIM Rules for Companies

Philip Gage Jull ("Gage"), is or has held the following directorships in the past five years:

Current Directorships / Partnerships Past directorships / partnerships
GeneTether Theraputics, Inc

Grant Carnie, is or has held the following directorships in the past five years:

Current Directorships / Partnerships Past directorships / partnerships
Armour Energy LLC

Maria Charash Koundina, is or has held the following directorships in the past five years:

Current Directorships / Partnerships Past directorships / partnerships
Orchard Energy Ltd

Joe McFarlane, is or has held the following directorships in the past five years:

Current Directorships / Partnerships Past directorships / partnerships
Ann & Sandy Cross Conservation Area

For further Information, contact:

Arrow Exploration
Marshall Abbott, CEO +1 403 651 5995
Joe McFarlane, CFO +1 403 818 1033

Brookline Public Relations, Inc.
Shauna MacDonald +1 403 538 5645

Canaccord Genuity (Nominated Advisor and Joint Broker)
Henry Fitzgerald-O'Connor +44 (0)20 7523 8000
James Asensio
Gordon Hamilton

Auctus Advisors (Joint Broker)
Jonathan Wright (Corporate) +44 (0)7711 627449
Rupert Holdsworth Hunt (Broking)

Camarco (Financial PR)
James Crothers +44 (0)20 3781 8331
Rebecca Waterworth
Billy Clegg

NOT FOR RELEASE, DISTRIBUTION, PUBLICATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131598