Arrow Exploration Share Discussion Threads

[rockyride] 01/8/2024 05:57

As we know our share price movement is well known for simply tracking production growth. However, we now have 3 pieces of news which we will hopefully see within 12 months which should move the share price up in their own rights:-Licence extension at OPAn additional rig bought inReserves report post 6 HZ wells drilledMA said the target was to double production this year from 3.2kboepd and that should be pretty much nailed now.I think we could even exit 2024 in excess of 8kboepd.

[eaglehaslanded] 31/7/2024 18:33

Thanks , actually mom is ill but a bit better so I have been supporting her lately.

[fictitious1] 31/7/2024 18:11

Thanks for your input today RR.

Pleased to hear from you EHL - hope all is well in the family.

MT - keep those gloves up.

[rockyride] 31/7/2024 17:46

GOLD DUSTQ - Excluding HZ1 & 3, production is 1,931boepd. With CN4 now a water disposal well, when can we expect to see production move up again here and how many boepd do you think it will go up by?A - Our focus is now on the horizontal well program and water disposal. We hope to have a total of 6 horizontal wells producing before year end. Once these projects are complete we will optimize vertical well performance.Q - When do you aim to issue an updated reserves report?A - Our reserves are changing quickly with each HZ well drilled. After the HZ well program makes the most sense for a reserve report at this time.Q - How are negotiations going re OP extension?A - OP discussions still in progress. I believe we are making some good progress. Hopefully, we will have news before the end of the year.Q - Have you decided yet or not to bring in an additional rig with the finances now looking so strong due to the amazing HZ results?A - We are evaluating additional rigs, which includes road egress. As you know we are in the rainy season right now which makes roads and pads very difficult and expensive. In October we begin building roads and pads for 2025 and 2026 drilling. Our share price has done well compared to some of our competitors lately, hopefully we can continue that momentum.

[hpotter] 31/7/2024 16:44

Is HZ-4 the first well they are going to use water reducing devices in the completion?

[red rook] 31/7/2024 16:32

.... yet another excellent RNS from AXL.... they are certainly motoring in their drilling program.... Malcy, and some other posts, have noted that the rig is already being moved to drill the third horizontal well.... BUT according to the RNS it appears that they have already spudded the well, if I am reading the RNS correctly!"The rig has been moved to the fourth cellar on the Carrizales Norte B Pad where the Company HAS SPUD the third horizontal well (CNB HZ-4).".... I believe this should be also be a longer horizontal so would expect another headline flow rate figure incoming shortly

[someuwin] 31/7/2024 15:53

Malcy:

"...This is yet more amazing news from the Carrizales Norte field where the horizontal drilling programme is yielding up many, many prizes. The announcement states that the CNB-HZ3 well has started production with restricted flowrates of 3,038 b/d and the well is still cleaning up, it could be much better…

The rig has already moved to start drilling the third well in the programme and after that another, the fourth horizontal well. In the meantime the company has converted ‘my’ CN-4 well into a water disposal well which has started its process. Things as they say can only get better and given that the CNB HZ-1 well paid out in under 30 days the company are proving to be fast learners.

For Example, ‘drilling operations at the CNB HZ-3 well took 21 days from spud to on production and cost approximately $4.0 million gross ($2.0 million net to Arrow)’. The improvement represents the learnings taken from CNB HZ-1 as the operations team continues to focus on improving capital and operating costs and creating further shareholder value. This has made the financial position very strong indeed, FCF generation continues, they are clearly funding their own story and have managed to strengthen the balance sheet whilst drilling, a rare thing indeed.

I remain all in on Arrow who continue to deliver in spades, they hold many other cards in the deck too, I decided to get more realistic about Target Prices in my note of 28/6/24 and so I think that 75p is a not unrealistic place to travel to. Arrow should outperform most in the sector and are holding up the Bucket List.

[rockyride] 31/7/2024 15:53

Malcys comments on todays RNS and let's hope we see some media from MA soon:-This is yet more amazing news from the Carrizales Norte field where the horizontal drilling programme is yielding up many, many prizes. The announcement states that the CNB-HZ3 well has started production with restricted flowrates of 3,038 b/d and the well is still cleaning up, it could be much better...The rig has already moved to start drilling the third well in the programme and after that another, the fourth horizontal well. In the meantime the company has converted 'my' CN-4 well into a water disposal well which has started its process. Things as they say can only get better and given that the CNB HZ-1 well paid out in under 30 days the company are proving to be fast learners. For Example, 'drilling operations at the CNB HZ-3 well took 21 days from spud to on production and cost approximately $4.0 million gross ($2.0 million net to Arrow)'. The improvement represents the learnings taken from CNB HZ-1 as the operations team continues to focus on improving capital and operating costs and creating further shareholder value. This has made the financial position very strong indeed, FCF generation continues, they are clearly funding their own story and have managed to strengthen the balance sheet whilst drilling, a rare thing indeed.I remain all in on Arrow who continue to deliver in spades, they hold many other cards in the deck too, I decided to get more realistic about Target Prices in my note of 28/6/24 and so I think that 75p is a not unrealistic place to travel to. Arrow should outperform most in the sector and are holding up the Bucket List.

[royalalbert] 31/7/2024 15:23

HAT thanks, have to admit like that HZ1 has already paid out and costs for the latest one are 20% cheaper. Costs of wells are also less than what was guided for which all adds money to the bottom line.

[here and there] 31/7/2024 15:08

It builds to year end to about $23m unless they hire a second rig which they may choose to do.

I was guided a second rig in Q1 2025 but..... plans change

[royalalbert] 31/7/2024 14:56

Anyone think or willing to do the numbers regarding cash position? Is the $11m a low point and from here on in could build?

[here and there] 31/7/2024 14:49

58c, 32.7p equivalent on ts

[rockyride] 31/7/2024 14:48

32.75p now being paid in Canada and they just raised the ask to 33.33p

[royalalbert] 31/7/2024 14:03

Canada off to a good start, nice to here from you EHL.

[eaglehaslanded] 31/7/2024 13:50

RAThis was a very good RNS, excellent results. I have not had contact with Joe for some time so nothing new, but the results speak for themselves. Thanks.

[royalalbert] 31/7/2024 13:34

Nice today with the rise and output, I do spare a thought though for two respected posters MT and EHL, take care Lads.

[here and there] 31/7/2024 11:31

My pleasure!

[king suarez] 31/7/2024 10:59

Thanks dunns (and HAT) - so we will hear later on the CNB-2 potential prospectivity.

[dunns_river_falls] 31/7/2024 10:48

I think the plan was to bring in a lower power rig to do the testing of the C7, prior to commencing life as a water injection well? Maybe I am remembering that wrong!

edit found it! From HAT post 8535

"As a result the CNB-2 well has a double mission. It will become the second water disposal well to add capacity to the converted CN-4 water disposal well (each one will have capacity of 13000bowpd). It was also drilled across the fault through these freshly discovered C-7 sands. Once CNB HZ- 3,4 and 5 are drilled and the rig is moved off the pad (late September) a workover rig will be brought in to test the C-7 sands in the CNB-2 well. These results could add further significant reserves and drilling inventory as part of the C7 production development. See slide 22 in the presentation. Fresh drill pads and cellars will be required. Reading between the lines, I believe this CN C-7 drilling development is being ear-marked for a dedicated second rig in Q1 2025."

[nicosevos] 31/7/2024 09:43

Excellent RNS this AM, all good on all fronts......

And being reflected in the share price ....Nice one!!
gla

[11_percent] 31/7/2024 09:28

Got an other lease of life.....


free stock charts from uk.advfn.com

[tom111] 31/7/2024 09:01

Brent over $80 again