Arrow Exploration Corp. Reports Successful Production from AB-1 Well in Colombian Basin

Arrow Exploration Corp ( (TSE:AXL) ) has shared an update.

Arrow Exploration Corp. announced the successful production start of its AB-1 exploration well in the Alberta Llanos field, located in the Llanos Basin of Colombia. The AB-1 well, which began production from the Ubaque formation, is producing an average of 658 barrels of oil per day with a 49% water cut. The development marks a significant milestone for the company, affirming the field’s potential and setting the stage for subsequent drilling operations in the area. This discovery is anticipated to become a core area for Arrow, enhancing production capabilities and future reserves. The progress of the East Tapir 3D seismic program is on schedule, and the company’s financial position remains strong with a cash balance of $19.1 million as of January 1, 2025.

More about Arrow Exploration Corp

Arrow Exploration Corp. is a publicly traded company focused on expanding oil production in Colombia’s active hydrocarbon basins, including the Llanos, Middle Magdalena Valley, and Putumayo Basin. The company holds a 50% interest in the Tapir block, with a strategic emphasis on high working interests and Brent-linked light oil pricing to achieve attractive operating margins. Arrow Exploration is listed on both the AIM market of the London Stock Exchange and the TSX Venture Exchange under the symbol ‘AXL’.

YTD Price Performance: 2.17%

Average Trading Volume: 88,407

Technical Sentiment Consensus Rating: Sell

Current Market Cap: C$134.4M

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