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Arrow Exploration Corp ( (TSE:AXL) ) just unveiled an announcement.
Arrow Exploration Corp. announced successful drilling results from its Mateguafa 5 well in the Tapir Block, Colombia, confirming the productive potential of the Mateguafa Attic field. The M-5 well, which encountered multiple hydrocarbon-bearing intervals, has been put on production with initial results exceeding expectations. This development is significant for Arrow, as it enhances their operational capacity and positions the company for further growth in the Colombian hydrocarbon sector. The company plans to continue exploration with the Mateguafa 6 well and future prospects identified through their 3D seismic program, aiming to expand their production and reserves.
More about Arrow Exploration Corp
Arrow Exploration Corp. is a publicly traded company focused on expanding oil production in Colombia’s active basins, including the Llanos, Middle Magdalena Valley, and Putumayo Basin. The company operates with high working interests and benefits from Brent-linked light oil pricing and low royalties, aiming for attractive operating margins. Arrow is listed on the AIM market of the London Stock Exchange and the TSX Venture Exchange under the symbol ‘AXL’.
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