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An announcement from Arrow Exploration Corp ( (TSE:AXL) ) is now available.
Arrow Exploration Corp. has announced reaching the target depth for the Alberta Llanos-1 exploration well in the Llanos Basin of Colombia. The well has encountered four main hydrocarbon-bearing reservoirs, indicating potential for significant production and reserves. This development could lead to a new core area for Arrow, with plans to begin production testing shortly. The company intends to follow up with additional development wells, further bolstering their Colombian operations.
More about Arrow Exploration Corp
Arrow Exploration Corp. is a publicly traded company with a focus on expanding oil production in Colombia’s major 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 TSX Venture Exchange under the symbol ‘AXL’.
YTD Price Performance: 23.08%
Average Trading Volume: 69,749
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$114.3M
For a thorough assessment of AXL stock, go to TipRanks’ Stock Analysis page.
