Arrow Exploration Corp. (LSE:AXL) continues to expand production from its Colombian oil portfolio, targeting underdeveloped assets across the Llanos, Middle Magdalena Valley and Putumayo basins. The company benefits from high working interests and Brent-linked oil pricing, supporting attractive operating margins. Under a private commercial agreement, Arrow is entitled to 50% of production from the Tapir block, where it is pursuing production growth through a combination of vertical and horizontal drilling programmes led by its experienced management team.
Icaco Wells Lift Production Above 5,000 boe/d
The company has reported encouraging drilling and initial production results from the Icaco-3 vertical well and the Icaco-4 and Icaco-5 horizontal wells on the Tapir block in Colombia’s Llanos Basin. The successful campaign has increased gross corporate production to more than 5,000 barrels of oil equivalent per day while confirming the commercial potential of both the Gacheta and Ubaque reservoirs. All three wells were completed on schedule and within budget. Icaco-3 has been brought into production from the Gacheta formation, while Icaco-5 delivered strong early production from the Ubaque interval. Arrow is continuing to optimise completion techniques on Icaco-4 as it prepares for additional drilling at the Icaco field.
Strong Financial Position Supports Growth Plans
Arrow remains in a solid financial position, with approximately US$27.5 million in cash and no outstanding debt, providing flexibility to fund further development activity. The company is also awaiting a decision on an extension to the Tapir block while monitoring regulatory developments under Colombia’s new administration, which has indicated support for increased investment in the country’s oil and gas sector.
About Arrow Exploration Corp.
Arrow Exploration Corp. is an oil and gas producer focused on developing underexploited hydrocarbon assets across Colombia’s Llanos, Middle Magdalena Valley and Putumayo basins. Through its operating subsidiary, Carrao Energy S.A., the company holds significant working interests in light oil projects benefiting from Brent-linked pricing and relatively low royalty rates. Arrow is entitled to half of the production from the Tapir block, subject to Ecopetrol’s approval.
Listed on both AIM in London and the TSX Venture Exchange under the ticker AXL, Arrow is focused on increasing production through operated assets in some of Colombia’s most prospective oil regions, with the aim of delivering sustainable production growth and long-term value for shareholders.
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