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Arrow Exploration Corp ( (TSE:AXL) ) has provided an update.
Arrow Exploration Corp. has announced the approval of a Normal Course Issuer Bid by the TSX Venture Exchange, initiating a share buyback program. The program allows Arrow to repurchase up to 5% of its public float, amounting to approximately £2.7 million in shares, to return capital to shareholders. The buyback will be conducted on the London Stock Exchange and other UK recognized exchanges, with Canaccord Genuity managing the purchases. This move reflects Arrow’s confidence in its 2025 program and aims to enhance shareholder value by buying back shares at or below their intrinsic value.
More about Arrow Exploration Corp
Arrow Exploration Corp. is a publicly traded company with a portfolio of premier Colombian oil assets that are underexploited and offer high potential growth. The company focuses on expanding oil production from Colombia’s active basins, including the Llanos, Middle Magdalena Valley, and Putumayo Basin. Arrow operates with high working interests and benefits from Brent-linked light oil pricing and low royalties, aiming for attractive operating margins.
For an in-depth examination of AXL stock, go to TipRanks’ Overview page.