REG - Arrow Exploration - Arrow Announces Exploration Well M-5 Results

Arrow ExplorationAnnouncement

12/11/2025 07:00

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RNS Number : 1448H  Arrow Exploration Corp.  12 November 2025

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ARROW ANNOUNCES EXPLORATION WELL M-5 RESULTS

M-5 successfully drilled and on production

CALGARY, November 12, 2025 - 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 provide an
update on the operational activity at the Mateguafa field on the Tapir Block
in the Llanos Basin of Colombia where Arrow holds a 50 percent beneficial
interest.

Mateguafa 5 well

The Mateguafa 5 well (M-5) well was spud on October 24(th), 2025, and reached
target depth on October 30(th), 2025.  The M-5 well was the first to be
drilled into the Mateguafa Attic field after the procurement of the 3D seismic
program shot in 2024, and results from this well have confirmed the productive
potential of the multi-pool field. The well was drilled, on time and on
budget, to a total measured depth of 10,560 MD feet (9,334 feet true vertical
depth) and encountered multiple hydrocarbon-bearing intervals.

Arrow put the M-5 well on production in the Guadalupe formation, which has
approximately 26 feet of net oil pay (true vertical depth). The pay zone is a
clean sandstone exhibiting an average porosity of  22% with high
resistivities. An electric submersible pump (ESP) has been inserted in the
well after perforating.

The M-5 well also encountered approximately 11 feet of net oil pay (true
vertical depth) in the Carbonera C7 formation.  Arrow plans to test this
formation in future wells.

The well was put on production at very restrictive operational parameters to
allow the well clean-up and a proper water cut evaluation. Currently, the well
is operating at a pump frequency of 30 Hz and a choke aperture of 17/128.

In the final 72 hours of the test, M-5 produced at a heavily restricted rate,
17/128 choke and 30 Hz pump frequency, of approximately 570 BOPD gross (285
BOPD net). The oil quality is 31° API and there is an 8% water cut
(completion fluid and formation water). The water cut has been decreasing
throughout the testing.

The testing results indicate the well is capable of higher rates and the
ultimate flow rate will be determined in the first few weeks of production.

Initial production results are not necessarily indicative of long-term
performance or ultimate recovery.

The well also encountered the Ubaque and Gacheta formations, however, these
sands were not deemed to be commercial at this location.

Mateguafa 6

The Mateguafa 6 (M-6) well was spud on November 8(th), 2025. The M-6 well will
further delineate the C7 and Guadalupe formations to develop a horizontal well
program.  The drilling, testing and completion of the well is expected to
take three to four weeks from spud. The M-7 well is scheduled to be drilled
immediately upon completion of the M-6 well.

2025 3D Program

The 2025 3D program has identified multiple prospects with the Icaco prospect,
in the southeast corner of the Tapir block, the first one to be drilled in
2026.   The Company continues to progress the necessary licenses, permits
and drilling pad with the expectation that the Icaco prospect will be drilled
in mid Q1 2026.  Multiple hydrocarbon reservoirs are being targeted at the
Icaco prospect.

Production

Including the restricted production from the M-5 well, total corporate
production is approximately 4,000 boe/d, in line with company modeling.

Cash Balance

On November 1, 2024, the Company's cash balance was US$8.2 million reflecting
the intensive, two rig drilling program that Arrow operated during the second
quarter.  The company continues to have no debt.

 

Marshall Abbott, CEO of Arrow commented:

"Initial production from the M-5 discovery has exceeded expectations and is an
exciting event for Arrow. In addition to the thick pay zones encountered on
the Guadalupe formation, an additional pay zone currently behind pipe, the C7,
provides further opportunities for production and reserves increases."

"The Mateguafa Attic discovery is material to Arrow and we are looking forward
to the M-6 and M-7 results which will further develop this discovery and help
determine the extent of the pools and the potential reserves additions.
Initial results indicate that the discovery will develop into another core
area for Arrow with the potential for horizontal drilling development."

"We look forward to providing further updates on this low-risk development
drilling program."

 

 

 

For further Information, contact:

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

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

 James Asensio

 George Grainger

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

 Camarco (Financial PR)
 Owen Roberts                                                        +44 (0)20 3781 8331
 Rebecca Waterworth

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 underexploited, 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. By way of a private commercial contract with the recognized
interest holder before Ecopetrol S.A., Arrow is entitled to receive 50% of the
production from the Tapir block. The formal assignment to the Company is
subject to Ecopetrol's consent.  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".

 

Forward-looking Statements

This news release contains certain statements or disclosures relating to Arrow
that are based on the expectations of its management as well as assumptions
made by and information currently available to Arrow which may constitute
forward-looking statements or information ("forward-looking statements") under
applicable securities laws. All such statements and disclosures, other than
those of historical fact, which address activities, events, outcomes, results
or developments that Arrow anticipates or expects may, could or will occur in
the future (in whole or in part) should be considered forward-looking
statements. In some cases, forward-looking statements can be identified by the
use of the words "continue", "expect", "opportunity", "plan", "potential" and
"will" and similar expressions. The forward-looking statements contained in
this news release reflect several material factors and expectations and
assumptions of Arrow, including without limitation, Arrow's evaluation of the
impacts of COVID-19, the potential of Arrow's Colombian and/or Canadian assets
(or any of them individually), the prices of oil and/or natural gas, and
Arrow's business plan to expand oil and gas production and achieve attractive
potential operating margins. Arrow believes the expectations and assumptions
reflected in the forward-looking statements are reasonable at this time, but
no assurance can be given that these factors, expectations, and assumptions
will prove to be correct.

The forward-looking statements included in this news release are not
guarantees of future performance and should not be unduly relied upon. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause actual results or events to differ materially
from those anticipated in such forward-looking statements. The forward-looking
statements contained in this news release are made as of the date hereof and
the Company undertakes no obligations to update publicly or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise, unless so required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

 

 

Glossary

API:        A specific gravity
(https://glossary.oilfield.slb.com/en/terms/s/specific_gravity)  scale
developed by the American Petroleum Institute (API
(https://glossary.oilfield.slb.com/en/terms/a/api) ) for measuring the
relative density of various petroleum liquids, expressed in degrees.

BOPD:   barrels of oil per day

boe/d:  barrels of oil equivalent per day

Qualified Person's Statement

The technical information contained in this announcement has been reviewed and
approved by Grant Carnie, senior non-executive director of Arrow Exploration
Corp. Mr. Carnie was formerly a member of the Canadian Society of Petroleum
Geologists, holds a B.Sc. in Geology from the University of Alberta and has
over 35 years' experience in the oil and gas industry.

This Announcement contains inside information for the purposes of the UK
version of the market abuse regulation (EU No. 596/2014) as it forms part of
United Kingdom domestic law by virtue of the European Union (Withdrawal) Act
2018 ("UK MAR").

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