Arrow Exploration is positioning to become a leading independent oil producer in Colombia

Arrow Exploration Corp is a publicly-traded company with a portfolio of premier Colombian oil assets that are under-exploited, under-explored and offer high potential growth. The company's business plan is to expand oil production from some of Colombia's most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin. The asset base is predominantly operated with high working interests, and the Brent-linked light oil pricing exposure combines with low royalties to yield attractive potential operating margins. Arrow's 50% interest in the Tapir Block is contingent on the assignment by Ecopetrol SA of such interest to Arrow.

Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) described its first quarter as “exciting” as it reported a 36% increase in total oil and gas revenue, reaching US$19.51 million.

First quarter earnings (EBITDA) climbed 15% to US$11.53 million, whilst net income amounted to US$2.66 million for the quarter.

It comes as the growing oil and gas group continues to develop its fields in Colombia, with new horizontal wells unlocking higher volumes.

Production increased to 4,085 barrels of oil equivalent per day (boe/d), up 50% compared to the same period a year ago.

Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) earlier this week told investors that 2024 marked a transformative year for the company, with a 65% increase in total oil and gas revenue. The company said it drilled 15 consecutive wells without a dry hole and highlighted that production has now stabilised, providing a reliable base for further expansion.

The company noted that drilling activity in the Tapir block in Colombia yielded consistently strong results. Arrow said that the block spans 100 square miles and contains six fault systems identified through 2D seismic data. It has so far only explored two of those. The company added that it recently completed a US$6 million 3D seismic survey to better define additional targets.

Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) shares are tipped for substantial upside as its latest results statement showed the success of last year’s drill program, which expanded the Colombia-focused firm’s production profile.

Pitched at 55p, a ‘Buy’ recommendation from Zeus Capital implies more than 200% upside to the current price of 15.7p.

Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) shares will be driven higher by its ongoing and regular drill activity, that’s according to analysts at Zeus Capital.

The London-based stockbroker has repeated a ‘Buy’ recommendation with a price target pitched at 45p, compared to Arrow’s current market price of around 16.3p.

Earlier today, Arrow reported a 36% increase in total oil and gas revenue, reaching US$19.51 million.

Arrow Exploration CEO Marshall Abbott joined Steve Darling from Proactive to share a record-breaking Q3 performance and detailed plans for continued growth in 2025. The company achieved its strongest quarter ever in production, revenue, EBITDA, and cash flow. The company saw total revenue of $21.3 million, a 53% increase from Q3 2023. Net income of $6.7 million and adjusted EBITDA of $15.9 million, up 62% from Q3 2023 and 79% from Q2 2024.

Operating cash flow of $29.2 million for the nine months ending September 30, 2024 and a cash position of $16.5 million at the end of the quarter. Operationally, abbott told Proactive the company successfully drilled three horizontal development wells at the Carrizales Norte (CN) field, contributing significantly to these results. The company plans further activity at the Alberta Llanos prospect, starting with a low-risk vertical exploration well targeting multiple formations.