REG - Arrow Exploration - Block Listing Update

Arrow ExplorationAnnouncement

02/11/2023 07:16

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RNS Number : 1125S  Arrow Exploration Corp.  02 November 2023

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ARROW ANNOUNCES BLOCKLISTING UPDATE

 

CALGARY, November 2, 2023 - 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 provides the following update in
accordance with Schedule Six of the AIM Rules for Companies regarding its
existing block listing arrangements.

 

 Name of company                                                                 Arrow Exploration Corp.
 Name of scheme                                                                  Arrow block listing (for warrants exercising)
 Period of return (from/ to)                                                     May 9, 2023 to November 1, 2023
 Number and Class of Securities not issued at the start of the period under the  20,643,247 common shares of no par value
 scheme
 Plus: The amount for which a blocklisting application has been made since the   Nil
 last date of return
 Less: Number of securities issued under the scheme during the period            20,643,247 Common Shares
 Equals: Balance under the scheme of securities not yet issued at the end of      Nil
 the period
 Number and class of securities originally admitted and the date of admission    40,000,000 Common Shares admitted on 8 November 2022

 

For further Information, contact:

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

 Brookline Public Relations, Inc.                                                       +1 403 538 5645

 Shauna MacDonald

 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)
 Andrew Turner                                                                          +44 (0)20 3781 8331
 Rebecca Waterworth
 Kirsty Duff

 

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 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 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 occur in the future (in
whole 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/Canadian assets (any of them
individually), the prices of oil and/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 or publicly 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 of the adequacy accuracy of this release.

 

 

 

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