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Published 1 month ago

Arrow Exploration Corp. 2023 Year-End Reserves and Operations Update

Summary by Ground News

Arrow Exploration Corp. announces results of its 2023 year-end reserves evaluation by Boury Global Energy Consultants Ltd. and an operations update. Proved ("1P") reserves: Increased by 57% to 5.29 million barrels of oil equivalent ("MMboe"), driven principally through the discovery of the Carrizales Norte field and successfully drilling the Rio Cravo Este field, both on the Tapir Block, Colombia. Before tax NPV-10 values have increased 133% for 1P and 120% for 2P.

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Arrow Exploration Corp. 2023 Year-End Reserves and Operations Update

BEFORE TAX NPV-10 VALUES INCREASED 133 % FOR 1P AND 120 % FOR 2P RESERVES, 1P AND 2P RESERVE REPLACEMENT RATIO WAS 340 % AND 621 %

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