Arrow Exploration Increases Production Following Successful Mateguafa 8 Well

Arrow Exploration Corp. (LSE:AXL) has successfully drilled and brought into production the Mateguafa 8 appraisal well on the Tapir Block in Colombia’s Llanos Basin, further validating the potential of the Mateguafa Attic area. While testing of the shallower C7 sands did not deliver commercial results, the well has confirmed the productivity of the C9 formation at the northern edge of the discovery.

The M-8 well is currently producing around 230 barrels of oil per day on a gross basis from a 30-foot C9 pay interval. Additional upside remains from untested Gacheta pay within the well. The new production contributes to Arrow’s total corporate output of approximately 4,625 barrels of oil equivalent per day and reinforces Mateguafa’s position as a key growth asset within the company’s Colombian portfolio.

Development activity at Mateguafa continues to progress. The horizontal M-HZ9 well is currently being drilled, with further appraisal and development wells, including M-10 and M-11, planned next. Beyond Mateguafa, Arrow is preparing for an exploration campaign from the Icaco pad and additional development drilling across other pads on the Tapir Block. The company ended the period with US$11.5 million in cash and no debt, and is engaged in discussions regarding an extension of the Tapir contract, positioning it to pursue further production growth and potential reserve additions while maintaining balance sheet flexibility amid changing oil market conditions.

More about Arrow Exploration Corp

Arrow Exploration Corp. is an oil and gas company focused on growing light oil production from underdeveloped, high-growth assets in Colombia’s Llanos, Middle Magdalena Valley and Putumayo basins. Operating predominantly as an operator with high working interests and exposure to Brent-linked pricing, the company targets attractive margins supported by low royalty structures. Arrow holds a 50% entitlement to production from the Tapir Block, subject to Ecopetrol’s consent, and is listed on London’s AIM and the TSX Venture Exchange under the symbol AXL.