Arrow Exploration Corp.（AIM：AXL；TSXV：AXL）（简称“Arrow”或“公司”）是一家高增长的油气运营商，在哥伦比亚主要油气盆地拥有丰富的资产组合。公司欣然发布位于哥伦比亚利亚诺斯盆地Tapir区块的Mateguafa油田的最新运营动态，Arrow持有该油田50%的权益。Mateguafa

5井

（M-5井）于2025年10月24日开钻，并于2025年10月30日达到目标深度。M-5井是自2024年完成三维地震勘探以来，Mateguafa Attic油田钻探的第一口井，该井的勘探结果证实了该多油藏油田的生产潜力。该井按时按预算钻探完成，总测量深度为10,560 MD英尺（真垂深9,334英尺），并钻遇多个含油气层段。Arrow

公司在瓜达卢佩组（Guadalupe Formation）投产了M-5井，该组净油层厚度（真垂深）约为26英尺。该含油层为净砂岩，平均孔隙度为22%，电阻率较高。射孔后，井内安装了一台电潜泵（ESP）。M

-5井还在卡博内拉C7组（Carbonera C7 Formation）钻遇了约11英尺净油层厚度（真垂深）。Arrow公司计划在未来的井中测试该地层。

该井在非常严格的作业参数下投产，以便进行井筒清理和准确的含水率评估。目前，该井的泵送频率为30赫兹，节流孔径为17/128。

在测试的最后72小时内，M-5井的产量受到严格限制，节流阀流量为17/128，泵送频率为30赫兹，总产量约为570桶/日（净产量为285桶/日）。原油API度为31°，含水率为8%（包括完井液和地层水）。在整个测试过程中，含水率一直在下降。

测试结果表明该井具备更高的产量潜力，最终产量将在投产后的前几周内确定。

初始生产结果并不一定代表长期性能或最终采收率。

该井还钻遇了乌巴克组（Ubaque）和加切塔组（Gacheta），但这些砂层在该位置被认为不具有商业开采价值。马特瓜法6号井（Mateguafa

6

，简称M-6）于2025年11月8日开钻。M-6井将进一步圈定C7组和瓜达卢佩组（Guadalupe），以制定水平井计划。预计从开钻到完井，该井的钻井、测试和完井将耗时三到四周。M-6井完井后，计划立即开始钻探M-7井。

2025年三维勘探计划

2025年三维勘探计划已探明多个潜在油气藏，其中位于Tapir区块东南角的Icaco油气藏预计将于2026年率先钻探。公司正持续推进必要的许可证、许可和钻井平台建设，预计Icaco油气藏将于2026年第一季度中期开始钻探。Icaco油气藏的目标油气藏包含多个储层。

产量

包括M-5井的限制性产量在内，公司总产量约为4,000桶油当量/日，与公司模型预测相符。

现金余额

截至2024年11月1日，公司现金余额为820万美元，这反映了Arrow公司在第二季度开展的密集型双钻机钻井作业。公司目前仍无任何债务。

Arrow公司首席执行官马歇尔·阿博特评论道：

“M-5油田的初步产量超出预期，这对Arrow来说是一件令人振奋的事情。除了瓜达卢佩组地层中发现的厚层含油层外，目前钻井管后方还有一个含油层——C7层，这为进一步提高产量和储量提供了机会。”

“马特瓜法阁楼油田的发现对Arrow公司意义重大，我们期待M-6和M-7油田的勘探结果，这将进一步推进该油田的开发，并有助于确定油藏的范围和潜在的储量增长。初步结果表明，该油田有望发展成为Arrow公司的另一个核心区域，并具有水平钻井开发的潜力。”

“我们期待就这项低风险开发钻井计划提供更多最新进展。”

Arrow Exploration Corp. (AIM: AXL; TSXV: AXL) ("Arrow" or the "Company"), the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, is pleased to provide an update on the operational activity at the Mateguafa field on the Tapir Block in the Llanos Basin of Colombia where Arrow holds a 50 percent beneficial interest.

Mateguafa 5 well

The Mateguafa 5 well (M-5) well was spud on October 24th, 2025, and reached target depth on October 30th, 2025. The M-5 well was the first to be drilled into the Mateguafa Attic field after the procurement of the 3D seismic program shot in 2024, and results from this well have confirmed the productive potential of the multi-pool field. The well was drilled, on time and on budget, to a total measured depth of 10,560 MD feet (9,334 feet true vertical depth) and encountered multiple hydrocarbon-bearing intervals.

Arrow put the M-5 well on production in the Guadalupe formation, which has approximately 26 feet of net oil pay (true vertical depth). The pay zone is a clean sandstone exhibiting an average porosity of 22% with high resistivities. An electric submersible pump (ESP) has been inserted in the well after perforating.

The M-5 well also encountered approximately 11 feet of net oil pay (true vertical depth) in the Carbonera C7 formation. Arrow plans to test this formation in future wells.

The well was put on production at very restrictive operational parameters to allow the well clean-up and a proper water cut evaluation. Currently, the well is operating at a pump frequency of 30 Hz and a choke aperture of 17/128.

In the final 72 hours of the test, M-5 produced at a heavily restricted rate, 17/128 choke and 30 Hz pump frequency, of approximately 570 BOPD gross (285 BOPD net). The oil quality is 31° API and there is an 8% water cut (completion fluid and formation water). The water cut has been decreasing throughout the testing.

The testing results indicate the well is capable of higher rates and the ultimate flow rate will be determined in the first few weeks of production.

Initial production results are not necessarily indicative of long-term performance or ultimate recovery.

The well also encountered the Ubaque and Gacheta formations, however, these sands were not deemed to be commercial at this location.

Mateguafa 6

The Mateguafa 6 (M-6) well was spud on November 8th, 2025. The M-6 well will further delineate the C7 and Guadalupe formations to develop a horizontal well program. The drilling, testing and completion of the well is expected to take three to four weeks from spud. The M-7 well is scheduled to be drilled immediately upon completion of the M-6 well.

2025 3D Program

The 2025 3D program has identified multiple prospects with the Icaco prospect, in the southeast corner of the Tapir block, the first one to be drilled in 2026. The Company continues to progress the necessary licenses, permits and drilling pad with the expectation that the Icaco prospect will be drilled in mid Q1 2026. Multiple hydrocarbon reservoirs are being targeted at the Icaco prospect.

Production

Including the restricted production from the M-5 well, total corporate production is approximately 4,000 boe/d, in line with company modeling.

Cash Balance

On November 1, 2024, the Company's cash balance was US$8.2 million reflecting the intensive, two rig drilling program that Arrow operated during the second quarter. The company continues to have no debt.

Marshall Abbott, CEO of Arrow commented:

"Initial production from the M-5 discovery has exceeded expectations and is an exciting event for Arrow. In addition to the thick pay zones encountered on the Guadalupe formation, an additional pay zone currently behind pipe, the C7, provides further opportunities for production and reserves increases."

"The Mateguafa Attic discovery is material to Arrow and we are looking forward to the M-6 and M-7 results which will further develop this discovery and help determine the extent of the pools and the potential reserves additions. Initial results indicate that the discovery will develop into another core area for Arrow with the potential for horizontal drilling development."

"We look forward to providing further updates on this low-risk development drilling program."