Arrow Exploration announces update on exploration activity on CN-4 and CN-5 wells

(NewsDirect)

Arrow Exploration CEO Marshall Abbott joined Steve Darling from Proactive to provide an update on the company's activities on the Tapir Block in the Llanos Basin of Colombia, where Arrow holds a 50% beneficial working interest.

Abbott shared that the CN-4 well, which was spud in January, has been drilled to a total measured depth of 9,552 feet and targeted the Ubaque formation. The well was completed in the Ubaque formation, revealing 29 feet of true vertical depth net oil pay. The pay zone comprises clean sandstone with consistent properties, including 26% porosity, 5 Darcy permeability, and high resistivities throughout. Following perforation, an electric submersible pump (ESP) was installed in the well.

Additionally, Abbott disclosed that the CN-5 well was spud on February 8 to test the Carrizales Noroeste prospect and reached a total depth of 9,050 feet true vertical depth. Initial interpretation of the logging data from this well, situated to the west of the known pool boundary, indicates 45 feet of Ubaque oil pay extending to the base of sand. The reservoir exhibits consistent properties, with 25% porosity and 5 Darcy permeability. The CN-5 well's confirmation of a stratigraphic trapping mechanism in the Ubaque reservoir extending westward is expected to significantly increase the existing Ubaque oil reserves. The company anticipates completing the well for production in the coming weeks.

These developments underscore Arrow Exploration's continued progress and success in advancing its operations within the Tapir Block, enhancing its position in the Colombian oil and gas sector.