**Summary**
Arrow Exploration Corp. announced positive results from its Mateguafa 6 (M-6) appraisal well in Colombias Llanos Basin. Drilled on time and within budget, the well reached a total depth of 10,000 feet and encountered multiple hydrocarbon-bearing intervals, including 18 feet of net oil pay in the Carbonera C7 formation and 30 feet in the Carbonera C9 formation. Initial production from the C7 zone exceeded expectations at approximately 824 BOPD gross (412 BOPD net) with high-quality 32ยฐ API oil. The well is equipped with an electric submersible pump (ESP) and is producing at a restricted rate, with potential for higher flow rates.
Arrow also provided updates on the Mateguafa 5 (M-5) well, which continues to produce around 550 BOPD gross, and the newly spudded horizontal Mateguafa HZ7 (M-HZ7) well, targeting the C9 formation, expected to be on production in December. CEO Marshall Abbott highlighted the significance of the M-6 well in reinforcing the Mateguafa Attic discovery as a material asset for Arrow, with potential for further horizontal drilling development.
Additionally, Arrow appointed Hannam & Partners as its Joint Corporate Broker, working alongside existing brokers Canaccord Genuity and Auctus Advisors. The company remains focused on expanding oil production in Colombias key basins, leveraging its high-potential asset portfolio and operational expertise.
**Key Points**
M-6 well successfully drilled and producing <mark style="background-color:yellow">above</mark> expectations.
Multiple hydrocarbon-bearing intervals identified, with future testing planned.
M-HZ7 horizontal well underwaytargeting December production start.
Appointment of Hannam & Partners as Joint Corporate Broker.
Arrow continues to focus on growth in Colombias hydrocarbon basins.
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