AXL - Arrow Exploration announces update on exploration activity on CN-4 and CN-5 wells

(NewsDirect)

Arrow Exploration CEO Marshall Abbottjoined Steve Darling from Proactive to provide an update on thecompany's activities on the Tapir Block in the Llanos Basin ofColombia, where Arrow holds a 50% beneficial working interest.

Abbott shared that the CN-4 well, whichwas spud in January, has been drilled to a total measured depth of9,552 feet and targeted the Ubaque formation. The well was completedin the Ubaque formation, revealing 29 feet of true vertical depth netoil pay. The pay zone comprises clean sandstone with consistentproperties, including 26% porosity, 5 Darcy permeability, and highresistivities throughout. Following perforation, an electricsubmersible pump (ESP) was installed in the well.

Additionally, Abbott disclosed that theCN-5 well was spud on February 8 to test the Carrizales Noroesteprospect and reached a total depth of 9,050 feet true vertical depth.Initial interpretation of the logging data from this well, situated tothe west of the known pool boundary, indicates 45 feet of Ubaque oilpay extending to the base of sand. The reservoir exhibits consistentproperties, with 25% porosity and 5 Darcy permeability. The CN-5well's confirmation of a stratigraphic trapping mechanism in theUbaque reservoir extending westward is expected to significantlyincrease the existing Ubaque oil reserves. The company anticipatescompleting the well for production in the coming weeks.

Thesedevelopments underscore Arrow Exploration's continued progress andsuccess in advancing its operations within the Tapir Block, enhancingits position in the Colombian oil and gas sector.

ContactDetails

Proactive North America

ProactiveNorth America

+1 604-688-8158

NA-editorial@proactiveinvestors.com

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