Arrow Exploration Corp. (LSE:AXL) announced that its Mateguafa Oeste-1 exploration well in the Tapir Block, Llanos Basin, Colombia, was drilled but found uneconomic due to limited oil pay above water, leading to its abandonment. The company will now redeploy its drilling rig to the Mateguafa Attic field to target the Mateguafa-5 well, focusing on both the Ubaque and C7 zones, with plans to explore further prospects if successful. This shift demonstrates Arrow’s strategic commitment to leveraging its geological expertise and expanding its operations, potentially enhancing its market positioning and creating new opportunities for stakeholders.
About Arrow Exploration Corp.
Arrow Exploration Corp. is a publicly traded company holding a portfolio of high-potential Colombian oil assets. Through its subsidiary, Arrow Exploration Switzerland GmbH, the company operates in active basins including Llanos, Middle Magdalena Valley, and Putumayo. With significant working interests, Brent-linked light oil pricing, and low royalties, Arrow aims to achieve attractive operating margins. The company is listed on AIM (London Stock Exchange) and the TSX Venture Exchange under the symbol ‘AXL’.
This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Leave a Reply