Arrow Exploration Corp (TSE:AXL) has released an update.
Arrow Exploration Corp. reports robust production from its fourth horizontal well, CNB HZ-5, in Colombia, with a current output exceeding 2,700 barrels of oil per day, and expects to maintain strong performance similar to its first three wells. The company boasts a healthy balance sheet with a cash position of $15 million and no debt, and plans to continue its six-well program and low-risk exploration drilling. Arrow’s overall strategy emphasizes expanding oil production in Colombia’s Llanos Basin and improving drilling efficiency for future growth.
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