REG - Arrow Exploration - Arrow Announces Operational Update

Arrow ExplorationAnnouncement

Wed 07:00

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RNS Number : 5094B  Arrow Exploration Corp.  01 October 2025

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OPERATIONAL UPDATE

Mateguafa Oeste-1 Result

CALGARY, October 1, 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, provides an update on the
recently drilled exploration well, Mateguafa Oeste-1, on the Tapir Block in
the Llanos Basin of Colombia where Arrow holds a 50 percent beneficial
interest.

 

Drilling Operations - Mateguafa Oeste 1

 

The Mateguafa Oeste-1 (MO-1) exploration well was spud on September 21, 2025,
and reached target depth on September 26(th), 2025. The primary targets for
the MO-1 were the sands of the Ubaque formation, which have been prolific
producing reservoirs in the nearby Carrizales Norte field. The well was
drilled to a total measured depth of 9,718 feet MD (9,399 feet true vertical
depth).  The well encountered reservoir sands of 27 feet TVD at the C7 zone
and 290 feet TVD at the Ubaque zone.  Unfortunately, both zones exhibited
thin oil pay over water.

Accordingly, MO-1 well is being abandoned due to the lack of an economic
discovery.

Drilling Schedule

Currently the drilling rig is moving to the Mateguafa Attic field to drill a
vertical exploration well, Mateguafa-5 (M-5), a step out well to Mateguafa 1
and Mateguafa 3, which together historically produced 630,000 barrels of oil
out of the Carbonera zone, C7.  This target is geologically independent from
the Mateguafa Oeste prospect.  The M-5 well is expected to spud early
November and is targeting both the C7 and Ubaque reservoirs.  On the basis of
a successful well at M-5, the Company plans to drill three additional wells,
one vertical and two horizonal, on the prospect.  The Company then plans to
test the Icaco, Macoya and the Capullo prospects.

 

Marshall Abbott, CEO of Arrow commented:

"The results of the Mateguafa Oeste-1 exploration well provide calibration for
existing future prospects. The well was drilled under budget, and successfully
hit the reservoirs as delineated by geological and geophysical control. The
well had thin oil pay over water and was deemed uneconomic.  This is the
first dry hole that Arrow has drilled out of 40 exploration and development
wells to date.

The rig is now moving to the Mateguafa Attic field where we plan to drill the
M-5 well targeting both the Ubaque and C7 zones.  The well will also
intercept both the Guadalupe and Gacheta formations.  The M-5 well is a step
out well from the M-1 and M-3 wells that were successful wells drilled and
produced by Mohave and Petrolco respectively.  The M-1 and M-3 wells were
abandoned in 2013.  With the 2023 3D seismic acquisition we are able to drill
closer to the Mateguafa fault into a higher part of the reservoir."

"We look forward to updating the market on the results of M-5 once the well
has been evaluated and remain excited about the future prospectivity at the
Icaco, Macoya and Capullo prospects ."

"We appreciate the support of our longstanding shareholder base as well as the
dedication of our talented staff."

 

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 branches of its 100% owned
subsidiary Arrow Exploration Switzerland GmbH) 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. Pursuant to certain private agreements entered
between Arrow and its partner, Arrow is entitled to receive 50% of the
production from the Tapir block and has the right to request approval to
Ecopetrol S.A. for the assignment of 50% of all rights, interests and
obligations under the Tapir Association Contract. 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 global pandemics, 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

MD         Measured Depth

TVD        True Vertical Depth

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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