Calgary, Alberta--(Newsfile Corp. - November 1, 2022) - Arrow Exploration Corp. (AIM: AXL) (TSXV: AXL) ("Arrow" or the "Company"), is pleased to provide an operations update.

Operations Update

Canadian operations

East Pepper tie-in
Following reporting of successful testing of the East Pepper well in September, the Company is now pleased to confirm the tie-in has been completed, and production began on October 25th
Initial rate was 7.6 mmcf/d or approximately 1,260 boe/d
The well has been choked back to produce at 6 mmcf/d or approximately 1,000 boe/d
The Company expects typical production declines; accelerated initial declines which should level off to 4-5% per month
Colombian operations

RCS-1 and RCE-1 Workovers:
The workover program on RCS-1 and RCE-1 is progressing as expected and the Company anticipates reporting on production rates in the next few weeks once the wells have cleaned-up
RCE-3 and RCE-4 Development Drilling:
Operations remain on track for RCE-3 to spud in December, with RCE-4 operations to follow immediately after completion of RCE-3
Carrizales Norte
After drilling RCE-3, RCE-4 and the RC water disposal well, the same rig will be moved to the Carrizales Norte field
Currently Arrow is building a road and pad for the Carrizales Norte field
Drilling at Carrizales 1 & 2 is anticipated to begin in Q1 2023
Corporate Production

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https://www.newsfilecorp.com/release/142533/Arrow-Announces-Operations-Update