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Arrow Exploration Corp ( (TSE:AXL) ) has provided an announcement.
Arrow Exploration has boosted output at its Mateguafa Attic field on Colombia’s Tapir block, reporting successful drilling and early production from the M-10 vertical and M-9HZ horizontal appraisal wells, both brought onstream at restricted rates and indicating capacity for higher volumes. The company is also optimizing field infrastructure by converting the M-8 well to water disposal, maintaining strong production from earlier Mateguafa wells, planning further drilling at M-11 and the Icaco exploration prospect, holding about US$7.2 million in cash with no debt, and continuing constructive talks over an extension of the Tapir block, underscoring the field’s growing strategic importance to its Colombian growth strategy.
More about Arrow Exploration Corp
Arrow Exploration Corp. is a publicly traded oil and gas company focused on underexploited, high‑growth light oil assets in Colombia’s Llanos, Middle Magdalena Valley and Putumayo basins. The company operates a largely operated, high working‑interest portfolio with Brent-linked pricing and low royalties, and is entitled to 50% of production from the Tapir block, subject to Ecopetrol’s consent.
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