Arrow Exploration reports positive Icaco-1 drilling results at Colombia’s Tapir Block (AXL)

AXL Arrow Exploration Corp. (LSE:AXL), the Colombia-focused oil producer listed in both London and Toronto, continues to expand output from conventional oil reservoirs across several strategic basins including the Llanos and Middle Magdalena Valley regions. With high working interests and relatively low royalty exposure, the company is aiming to capitalise on Brent-linked pricing and the development potential of underexploited assets such as the Tapir Block to support future production growth and shareholder returns.

The company announced encouraging well log data from its Icaco-1 exploration well located on the Tapir Block in Colombia’s Llanos Basin, where Arrow holds a 50% beneficial interest. The well was completed on schedule and below budget and intersected several hydrocarbon-bearing intervals. Arrow intends to carry out production testing across three separate formations, further supporting the exploration potential of the Tapir Block following five earlier successful discoveries that have already supported the drilling of 40 development wells.

Management stated that the Icaco-1 findings surpassed internal expectations and pointed to the strong hydrocarbon saturation and repeatable nature of the conventional reservoir system across the Tapir Block. The company believes successful testing and any follow-on development drilling at Icaco could contribute additional production volumes and enhance the value of the wider asset base, reinforcing the Tapir Block’s importance as a central driver of Arrow’s future growth strategy and potential shareholder returns.

More about Arrow Exploration Corp

Arrow Exploration Corp. is a publicly traded oil and gas exploration and production company focused on high-potential conventional light oil assets in Colombia’s Llanos, Middle Magdalena Valley and Putumayo basins. The business primarily operates with high working interests and exposure to Brent-linked crude pricing, targeting attractive operating margins from conventional reservoirs. Arrow holds rights to 50% of production from the Tapir Block, subject to consent from Ecopetrol.