American Axle & Manufacturing (US:AXL) Newsfile·2025-11-26 07:00Core Viewpoint - Arrow Exploration Corp. has successfully drilled and put the Mateguafa 6 well (M-6) into production, indicating strong operational performance and potential for future growth in Colombian hydrocarbon basins [1][8]. Operational Update - The M-6 well was spud on November 8, 2025, reaching its target depth of 10,000 measured depth feet on November 15, 2025, and was completed on time and within budget [2]. - The well encountered multiple hydrocarbon-bearing intervals, including approximately 18 feet of net oil pay in the Carbonera C7 formation and 30 feet in the Carbonera C9 formation [3][4]. - The M-6 well is currently producing at a restricted rate of approximately 824 barrels of oil per day (BOPD) gross (412 BOPD net) with an oil quality of 32° API and a 3% water cut [5]. Future Development Plans - Arrow plans to test the C9 formation in future wells, indicating a strategy for further exploration and production enhancement [4]. - The Mateguafa 7 well (M-HZ7) was spud on November 22, 2025, targeting the C9 formation, with expectations for completion and production in December 2025 [7]. Management Commentary - The CEO of Arrow highlighted that the M-6 well's initial production has exceeded expectations and emphasized the significance of the Mateguafa Attic discovery for the company's future development [8][10]. - The company anticipates that the Mateguafa Attic will become a core area for Arrow, with potential for horizontal drilling development [10]. Company Overview - Arrow Exploration Corp. operates in Colombia with a focus on expanding oil production from key basins, including Llanos, Middle Magdalena Valley, and Putumayo Basin [11]. - The company holds a 50% beneficial interest in the Tapir block, with a business model aimed at leveraging underexploited assets for high growth potential [11].