Ubaque oil discovery at RCE, with production being brought on from the C7
Calgary, Alberta--(Newsfile Corp. - November 16, 2023) - Arrow Exploration Corp. (AIM: AXL) (TSXV: AXL) ("Arrow" or the "Company"), the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, is pleased to provide an update on the Rio Cravo Este-6 ("RCE-6") well on the Tapir Block in the Llanos Basin of Colombia where Arrow holds a 50% beneficial interest, and the Oso Pardo-3 well on the Oso Pardo field in the Middle Magdalena Valley Basin of Colombia where Arrow has a 100% working interest.

RCE-6

The Company has completed the RCE-6 well in the Carbonera C7 formation and the well has been put into production. The well penetrated a 16 ft pay zone in a high quality upper Carbonera C7 sand, with a porosity of 27%. The well is currently flowing, with the ESP turned off, at 834 BOPD gross (417 BOPD net) of 29.8 API gravity. As reservoir stewards, the Company will conservatively produce at rates that allow for maximum oil recoveries and optimal production rates.

After penetrating the Carbonera C7, the RCE-6 well continued drilling and encountered pay in the Ubaque formation. In the Ubaque formation the well penetrated 7 ft of high quality pay, with an estimated porosity of 24%. The Ubaque zone was tested for 78 hours and reached a production rate of 393 BOPD gross (197 BOPD net) of heavy crude oil of 13.3° API with a water cut of less than 10%. see & read more on
https://www.newsfilecorp.com/release/187518/Arrow-Provides-RCE6-Update-and-Operations-Update