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Pin to quick picksArrow Explor. Share News (AXL)

Share Price Information for Arrow Explor. (AXL)

London Stock Exchange
Share Price is delayed by 15 minutes
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Share Price: 19.50
Bid: 19.00
Ask: 20.00
Change: -0.75 (-3.70%)
Spread: 1.00 (5.263%)
Open: 20.50
High: 20.50
Low: 19.50
Prev. Close: 20.25
AXL Live PriceLast checked at -

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Canaccord Genuity initiates coverage on Arrow Exploration at 'buy'

Tue, 06th Sep 2022 10:37

(Sharecast News) - Analysts at Canaccord Genuity initiated coverage on exploration and production firm Arrow Exploration at 'buy' on Tuesday, stating the group was "targeting the bullseye".

Canaccord Genuity said Arrow has had "a busy operational programme", providing multiple varied market catalysts, with its near-term focus on the Tapir licence, of which it has a 50% working interest, in the "prolific" LLanos Basin of northeast Colombia.

The Canadian bank noted that in 2022, Arrow had already drilled two successful development wells on the Rio Cravo Este field on Tapir, which more than tripled total company production to around 1,500 barrels of oil per day, and through further drilling the company was now on track to deliver its target production level 3,000 bopd by spring 2023.

However, Canaccord still sees "considerable further growth potential" from the group's current assets - RCE field, nearby low-risk Carrizales Norte prospect, plus other Tapir exploration targets, and the Oso Pardo field extension on Santa Isabel licence.

"We see potential to increase production to over 6,000 bopd," added the analysts, who started the stock off with a 36.0p target price and said it was in "a good place" for longer-term growth.

Reporting by Iain Gilbert at Sharecast.com

More News
6 Feb 2025 15:51

Canaccord Genuity lowers target price on Arrow Exploration

(Sharecast News) - Analysts at Canaccord Genuity lowered their target price on Colombia-focussed oil firm Arrow Exploration from 50.0p to 44.0p on Thursday but acknowledged that near-term drilling was likely to reboot production growth.

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5 Feb 2025 14:01

Arrow Exploration reports drilling progress at Alberta Llanos

(Sharecast News) - Arrow Exploration updated the market on its drilling operations at the Alberta Llanos field in Colombia's Llanos Basin on Wednesday, where it holds a 50% beneficial interest.

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5 Feb 2025 11:01

AIM WINNERS & LOSERS: Arrow Exploration well disappoints

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6 Jan 2025 11:16

Arrow Exploration says Colombian oil venture meets expectations

(Alliance News) - Arrow Exploration Corp on Monday reported production at its 50%-owned Alberta Llanos venture in Colombia was progressing in line with expectations.

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Arrow Exploration reveals promising results from AB-1 well

(Sharecast News) - Arrow Exploration announced promising results from the AB-1 well at the Alberta Llanos field on the Tapir Block in Colombia on Monday, where it holds a 50% beneficial interest.

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17 Dec 2024 13:39

Arrow Exploration reaches target depth at AB-1 well

(Sharecast News) - Arrow Exploration announced on Tuesday that it has reached target depth on the Alberta Llanos-1 (AB-1) exploration well, located on the Tapir Block in Colombia's Llanos Basin.

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28 Nov 2024 11:32

Arrow Exploration reports strongest ever quarterly figures

(Alliance News) - Arrow Exploration Corp on Thursday said it was planning for another year of growth as it realised strong on-year improvements in key performance metrics.

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18 Sep 2024 12:36

UK shareholder meetings calendar - next 7 days

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31 Jul 2024 14:11

Arrow Exploration says Colombia well performs above expectations

(Alliance News) - Arrow Exploration Corp on Wednesday said the CNB HZ-well 1 in Colombia is performing ahead of expectations, while another well as come into production and is also impressing.

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21 Jun 2024 10:22

AIM WINNERS & LOSERS: Ondine up on NHS boost; Arrow returns some gains

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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19 Jun 2024 13:20

Arrow Exploration says drill results validate new technology

(Alliance News) - Arrow Exploration Corp shares surged on Wednesday, after the company said results at its first Ubaque horizontal well were "exceeding expectations".

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19 Jun 2024 12:24

LONDON MARKET MIDDAY: Stocks stay green as UK inflation back to target

(Alliance News) - Stock prices in London continued to trend higher at midday on Wednesday, after data confirmed the return of UK inflation to its target rate of 2%.

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19 Jun 2024 09:11

LONDON MARKET OPEN: FTSE 100 struggles despite UK inflation respite

(Alliance News) - London's FTSE 100 moved lower early Wednesday, despite a favourable UK inflation reading which may have strengthened hope for a summer rate cut.

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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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