Arrow Exploration, 8,9 milyon $ tutarındaki Alberta petrol anlaşmasıyla Kanada'yı satın aldı

Arrow Exploration buys into Canada with $8.9 million Alberta oil deal

Fri, August 14, 2026 at 9:32 AM GMT+3 2 min read

Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) has bought its first producing asset outside Colombia, acquiring an oil property in Alberta for C$12.15 million, or roughly US$8.9 million.

The AIM and TSX Venture-listed producer has taken a 100% working interest in the Thorsby property in central Alberta, funding the purchase entirely from cash reserves.

Thorsby is currently producing 550 barrels of oil equivalent per day and has generated about C$2 million of operating income over the past 12 months.

A third-party reserve report puts total proved reserves at 4.973 million barrels of oil equivalent, rising to 7.537 million on a proved plus probable basis.

Those reserves carry a pre-tax value, discounted at 10%, of C$38 million and C$71 million respectively.

Arrow is also assuming decommissioning liabilities of C$8.7 million.

The property covers 9,501 net acres, about 200km north of Calgary, with all associated infrastructure included in the deal.

Management has identified 22 drilling locations targeting the lower Cretaceous Sparky formation, a shallow reservoir with a net pay average of 15 metres.

Two-mile lateral horizontal wells at Thorsby are expected to cost around C$2.2 million each, with three wells planned per pad.

The company said Sparky wells typically come on at 300 barrels of oil per day and decline slowly, with the reservoir historically responding well to water flood, a secondary recovery technique that maintains pressure by injecting water.

Current production is roughly 27% oil and liquids, though the reserve base is weighted closer to 55%.

Decline rates run at 15%, low by industry standards.

The Alberta Energy Regulator estimates 55 million stock tank barrels originally in place at Thorsby, with only 3% recovered to date.

Chief executive Marshall Abbott described the acquisition as a low-risk suite of development drilling opportunities with returns exceeding 500% on a well-by-well basis.

He said the geology closely resembles Arrow's Colombian assets, with similar three-way structural traps, giving the company a second inventory of drilling targets to allocate capital against.

Arrow remains debt-free following the purchase.

The company has spent 2026 drilling out the Icaco extension of its Tapir block in Colombia, most recently confirming up to four hydrocarbon-bearing zones at Icaco 3.