Arrow Exploration Corp's (TSX-V:AXL, AIM:AXL, OTC:CSTPF) CEO Marshall Abbott discussed the company’s Colombia operations and growth strategy while presenting at the Proactive One2One Investor Forum, where he highlighted strong production growth, drilling success and future development plans in the Llanos Basin.
Abbott explained that Arrow Exploration has achieved an impressive track record since launching operations several years ago, including multiple discoveries that have driven rapid production growth. The company has drilled more than 40 wells with only one dry hole and is currently producing more than 5,300 barrels of oil per day. Abbott said the results reflect the effectiveness of the company’s technical approach and seismic work in Colombia.
The company currently generates around $3 million per month in cash flow and remains debt free with approximately $11–12 million in cash. Abbott said Arrow Exploration is continuing to drill development wells while also evaluating new exploration prospects and potential acquisition opportunities in Colombia.
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