Arrow Exploration's M-5 well produces 570 bopd

Executive Summary

• Arrow Exploration Corp. reported initial production results from the Mateguafa 5 (M-5) exploration well in the Llanos basin, Colombia, confirming the productive potential of the Mateguafa Attic field.
• The M-5 well produced approximately 570 barrels of oil per day gross (285 bopd net) in its final 72-hour test period, with 31-degree API oil and an 8% water cut.
• The company outlined its immediate future drilling schedule, including the spudding of M-6 on Nov. 8, 2025, to delineate formations for a horizontal well program, with M-7 scheduled to follow.

Key Details

• M-5 Well Performance:
  • Spudded: Oct. 24, 2025; Reached target depth: Oct. 30, 2025.
  • Total Measured Depth: 10,560 feet (9,334 feet true vertical depth).
  • Drilled on time and on budget.
• M-5 Geological Findings:
  • Guadalupe Formation: Encountered ~26 feet of net oil pay (TVD). Clean sandstone with average porosity of 22% and high resistivities. Equipped with an Electric Submersible Pump (ESP).
  • Carbonera C7 Formation: Encountered ~11 feet of net oil pay (TVD). Arrow plans to test this formation in future wells.
  • Other Formations: Encountered Ubaque and Gacheta formations, but these were not deemed commercial at this location.
• M-5 Production Metrics (Final 72 Hours):
  • Rate: ~570 barrels of oil per day gross (285 bopd net).
  • Oil Quality: 31-degree API.
  • Water Cut: 8% (decreasing throughout testing).
  • Operational Parameters: Restricted rate with 17/128 choke aperture and 30-hertz pump frequency to allow for well cleanup and water cut evaluation.
  • Outlook: Results indicate capability for higher rates; ultimate flow rate to be determined in the first few weeks of production.
• M-6 Well Status:
  • Spudded: Nov. 8, 2025.
  • Objective: Further delineate C7 and Guadalupe formations to develop a horizontal well program.
  • Timeline: Drilling, testing, and completion expected to take 3-4 weeks from spud.
• M-7 Well Status:
  • Scheduled to be drilled immediately upon completion of M-6.
• 2025 3-D Program & Future Prospects:
  • Identified multiple prospects, including the Icaco prospect in the southeastern corner of the Tapir block.
  • Icaco Prospect: First to be drilled in 2026; expected to be drilled in mid-Q1 2026. Multiple hydrocarbon reservoirs targeted. Licenses, permits, and drilling pad are being progressed.
• Corporate Production & Financials:
  • Total Corporate Production: Approximately 4,000 barrels of oil equivalent per day (in line with company modeling).
  • Cash Balance: $8.2 million (U.S.) as of Nov. 1, 2024.
  • Debt: None.

Notable Quotes

• Marshall Abbott, CEO: "Initial production from the M-5 discovery has exceeded expectations and is an exciting event for Arrow. In addition to the thick pay zones encountered on the Guadalupe formation, an additional pay zone currently behind pipe, the C7, provides further opportunities for production and reserves increases."
• Marshall Abbott, CEO: "The Mateguafa Attic discovery is material to Arrow and we are looking forward to the M-6 and M-7 results, which will further develop this discovery and help determine the extent of the pools and the potential reserves additions. Initial results indicate that the discovery will develop into another core area for Arrow with the potential for horizontal drilling development."