Arrow Exploration Corp (TSE:AXL) has released an update.
Arrow Exploration Corp. has announced the commencement of drilling its first horizontal well, CNB HZ-1, in Colombia’s Llanos Basin, aiming to enhance production efficiency in the Ubaque reservoir. The company has a robust fiscal position with $12.4 million in cash and no debt, and it is planning further drilling activities and a 3D seismic program later in the year to continue its growth trajectory. These developments come as part of Arrow’s strategic expansion in Colombia’s oil-rich regions, with expectations for transformative production increases.
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