Arrow Exploration is traded on the TSX Venture Exchange and has come to AIM to gain access to London investors and to raise cash to finance the drilling of five wells on the Tapir block in Colombia. This will enable production to increase and thereby generate more cash for the business.
Management believes that if the wells are successful then production could average more than 2,000 barrels of oil equivalent/day, rising to 3,000 barrels/day by March 2023. Onshore wells can be brought into production
Arden partners forecasts 2022 sales of $20m and EBITDA of $10m. This relies on the succ...
