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Pin to quick picksArrow Explor. Share News (AXL)

Share Price Information for Arrow Explor. (AXL)

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Share Price: 19.75
Bid: 19.50
Ask: 20.00
Change: 0.25 (1.28%)
Spread: 0.50 (2.564%)
Open: 19.50
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IN BRIEF: Shares in Canada's Arrow Exploration rise 9% on AIM debut

Mon, 25th Oct 2021 13:06

Arrow Exploration Corp - Calgary, Canada-based oil and gas company with projects in Columbia and Canada - Raises GBP8.8 million from initial public offering on AIM market in London, selling 140.9 million new share at 6.25 pence each. At the IPO price, Arrow has a GBP13.1 million market capitalisation. For every two shares purchased, investors receive one warrant exercisable at 9p over the next two years. The raise is supported by fellow Toronto listing Canacol Energy Ltd, which buys 36.7 million of the shares sold. Canacol now has 41.7 million shares, a 19.9% stake, which would rise to 26.6% upon the exercise of warrants. Following the London IPO, Arrow plans a share placing in Canada to raise an additional CAD500,000.

Arrow is set to drill its second well at the Rio Cravo Este discovery, followed by the first well at the Carrizales Norte prospect. Production from the West Pepper natural gas well in Alberta, Canada is due by the end of the year.

"We are thrilled to have completed our London dual-listing having received such strong support and interest in our story from new and existing shareholders," says Chief Executive Officer Marshall Abbott.

Current stock price: 6.84p, up 9.4% from IPO price

By Tom Waite; thomaslwaite@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
13 Mar 2023 12:23

Arrow Exploration RCE-4 well drilling encounters hydrocarbon intervals

(Alliance News) - Arrow Exploration Corp on Monday said drilling has been completed at the RCE-4 well in its RCE oil field in the Tapir Block, Colombia.

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10 Mar 2023 14:44

Arrow Exploration director Maria Charash resigns

(Sharecast News) - Arrow Exploration announced on Friday that Maria Charash had resigned as a director, in order to pursue other opportunities.

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3 Mar 2023 12:38

Arrow Exploration completes well on Tapir Block

(Sharecast News) - Arrow Exploration announced the successful completion of the Rio Cravo Este-3 well on Friday, an appraisal and development well on the Tapir Block in the Llanos Basin of Colombia.

Read more
3 Mar 2023 12:17

Arrow Exploration shares rise as encounters hydrocarbon intervals

(Alliance News) - Arrow Exploration Corp on Friday said it found seven hydrocarbon bearing intervals totalling 58 net feet of oil pay at its RCE-3 well on the Tapir block in Colombia.

Read more
21 Feb 2023 16:43

Arrow Exploration reaches total depth in drilling at Colombian well

(Alliance News) - Arrow Exploration Corp on Tuesday said it reached total depth on drilling the Rio Crave Este-3 appraisal well in the Tapir block in Colombia on Thursday last week.

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21 Feb 2023 12:41

Arrow reaches total depth at latest Rio Cravo Este well

(Sharecast News) - Arrow Exploration announced on Tuesday that it has reached total depth in the drilling of the Rio Cravo Este-3 (RCE-3) appraisal well on the Tapir Block in Colombia's Llanos Basin.

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1 Feb 2023 16:49

TRADING UPDATES: Atlantic ups estimate; Kefi to list in Saudi Arabia

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

Read more
1 Feb 2023 16:48

TRADING UPDATES: Atlantic ups estimate; Kefi to list in Saudi Arabia

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

Read more
23 Dec 2022 15:40

TRADING UPDATES: Webis wins racetrack deal; Plexus confident

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

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2 Dec 2022 14:49

TRADING UPDATES: Amaroq hails gold finds; Orcadian signs deal with SLB

(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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7 Sep 2022 09:42

Arrow Exploration shares up on strong East Pepper well test results

(Alliance News) - Shares rose in Arrow Exploration Corp after testing of the East Pepper well in Alberta, Canada showed a higher gas flow rate than expected.

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6 Sep 2022 10:37

Canaccord Genuity initiates coverage on Arrow Exploration at 'buy'

(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".

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30 Aug 2022 16:13

TRADING UPDATES: Thor Explorations, Zenith Energy post swing to profit

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

Read more
24 Aug 2022 10:59

IN BRIEF: Arrow Exploration sees half-year net present value increase

Arrow Exploration Corp - Calgary, Canada-based oil and gas company operating in Colombia - Says net present value before tax, discounted at 10%, in the half-year that ended June 30 is up 164% for 1P oil reserves to USD77.7 million; up 79% for 2P reserves to USD150.4 million; and up 67% to USD223.6 million for 3P reserves.

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27 Jun 2022 10:33

Arrow Exploration rises on better-than-expected results in Colombia

(Alliance News) - Arrow Exploration Corp on Monday said results from well testing at the Tapir Block in Colombia were ahead of expectations, with additional zones identified.

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