Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) CEO Marshall Abbott presented at the Proactive One2One Investor Forum, detailing the company's ongoing success and future goals in Colombia.
Abbott discussed how Arrow Exploration operates in two opportunity-rich basins, with recent drilling success increasing production to 5,400 barrels per day. The company’s innovative approach to horizontal drilling is a key factor, helping to unlock six hydrocarbon-bearing zones in wells drilled to 10,000 feet.
Abbott emphasised the company's commitment to achieving 10,000 barrels per day within three years, explaining that the current reserve base is 12 million barrels of 2P reserves, valued at approximately $280 million.
He highlighted Arrow Exploration’s low-cost operation, with each horizontal well costing $2.1 million and paying out quickly.
“Water is your friend,” Abbott said, discussing how strong aquifer support plays a vital role in Colombia’s oil extraction process.
Looking ahead, the company plans to continue aggressive drilling, with three more wells expected by year-end.