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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%)
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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
8 Jun 2022 12:44

Arrow Exploration spots two new "oil-bearing zones" at Colombia well

(Alliance News) - Arrow Exploration Corp on Wednesday said new finds at the Rio Cravo Sur-1 well located on the Tapir Block in Colombia "will add materially to the overall field development plan".

Read more
30 May 2022 15:10

IN BRIEF: Arrow Exploration spuds RCS-1 well, as RCE-2 on stream

Arrow Exploration Corp - Calgary, Canada-based oil and gas company - Says Rio Cravo Este-2 well was brought on production on May 23, and well Rio Cravo Sur-1 has been successfully spud at the same date in the Tapir Block of Rio Cravo Este 2 area, in the Llanos Basin of Colombia. RCS-1 is currently drilling ahead at 1,500 feet, expected to reach a total depth of 8,700 feet. RCE-2 initially produced at high rates before it developed a water cut. It is currently being managed at reduced rates of 1,000 barrels of oil per day, Arrow says, or 500 barrels net to Arrow. This is ahead of Arrow's forecasts of 360 barrels net. The well is expected to payout in less than six months, it says.

Read more
18 May 2022 11:27

Arrow Exploration sees strong production rates at well in Colombia

(Alliance News) - Arrow Exploration Corp on Wednesday reported good results from the Rio Cravo Este-2 well testing in Colombia, ahead of the company's expectations.

Read more
18 May 2022 11:22

AIM WINNERS & LOSERS: Strip Tinning expects flat revenue in 2022

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

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26 Apr 2022 18:03

TRADING UPDATES: Billington faces headwinds; Immotion plans spin-off

(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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19 Apr 2022 11:30

IN BRIEF: Arrow Exploration jumps as work at RCE-1 well progresses

Arrow Exploration Corp - Calgary, Canada-based oil and gas company - Says the Rio Cravo Este-2 well on the Tapir Block in the Llanos Basin of Colombia was drilled to a total depth of 9,674 feet. Completes casing of the well and expects cementing to be completed on April 20. Says this will be followed by a thorough production testing programme. Expects testing to take roughly five days per zone. Notes that the well is targeting a three-way fault-bounded structure with multiple high-quality reservoir objectives.

Read more
4 Apr 2022 21:57

TRADING UPDATES: Beeks seeks GBP15 million; Sanderson renews licence

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

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30 Mar 2022 14:31

IN BRIEF: Arrow Exploration lifts year-end reserves on Colombia uplift

Arrow Exploration Corp - Calgary, Canada-based oil and gas company - Proved reserves at the end of 2021 increase 4.1% to 3.0 million barrels of oil equivalent, driven mainly by an uplift at Santa Isabel in Colombia.

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14 Mar 2022 20:57

TRADING UPDATES: Cobra in line for earn-in; Argo agrees fleet swap

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

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22 Feb 2022 21:57

TRADING UPDATES: Angling Direct ups revenue; Ceiba takes Omicron hit

(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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22 Feb 2022 16:32

Arrow Exploration makes progress with next well at Rio Cravo Este

(Sharecast News) - Arrow Exploration updated the market on the drilling of the next well, RCE-2, at the Rio Cravo Este Field in Colombia on Tuesday.

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13 Dec 2021 21:26

IN BRIEF: Arrow Exploration brings West Pepper well into production

IN BRIEF: Arrow Exploration brings West Pepper well into production

Read more
24 Nov 2021 20:17

TRADING UPDATES: Alpha Financial raises outlook; Gateley confident

TRADING UPDATES: Alpha Financial raises outlook; Gateley confident

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