Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) is counting down to the kick off at its drill programme for the Carrizales Norte (CN) 4 well in the Tapir block onshore Colombia.
Today, it told investors it has now commenced set up of the Petroworks 1500-horsepower rig and drilling is expected to start in late January.
It will be followed by the CN-5 well which is expected to spud in February.
Arrow is also preparing for its first horizontal wells at the Carrizales Norte field as it progresses the construction of the new well pad, known as the B Pad, slated to be ready in March.
Pad B will host the CN HZ-1 well and potentially more horizontal wells.
Arrow has also started upgrading the Mateguafa pad, also within the Tapir block, along with construction for the Baquiano road and pad.
The first well at Mateguafa, MA-1, is scheduled to spud late in the first quarter or early in the second, while the drilling of the Baquiano prospect is planned for later in the year.
Elsewhere, in the Middle Magdalena Valley Basin, the Oso Pardo-1 (OP-1) well is now back in production. Completion operations are meanwhile underway for the Oso Pardo-3 (OP-3) and Oso Pardo-4 (OP-4) development wells, with well stimulation operations expected in the first quarter.