Operational Update

AB HZ4 and AB HZ5 now on production

Calgary, Alberta--(Newsfile Corp. - July 15, 2025) - Arrow Exploration Corp. (AIM: AXL) (TSXV: AXL) ("Arrow" or the "Company"), the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, is pleased to provide an update on recent operational activity on the Tapir Block in the Llanos Basin of Colombia where Arrow holds a 50 percent beneficial interest.

Highlights

- Current production between 4,600 and 4,800 boe/d net to Arrow.

- 2 horizontal wells and 2 vertical wells drilled in Q2 and Q3 to date.

• AB HZ5 brought on production on July 2, 2025, and currently producing 1,790 BOPD gross (895 BOPD net).
• AB HZ4 brought on production on June 11, 2025, and currently producing 880 BOPD gross (440 BOPD net).
• RCE9 vertical well brought on production on June 23, 2025, and currently producing 201 BOPD gross (100.5 BOPD net).
• CN11 vertical well brought on production on April 17, 2025, and currently producing 143 BOPD gross (72.5 BOPD net).

- Strong balance sheet, no debt or drilling commitments. Arrow has flexibility in its work program and is actively exploring potential acquisition opportunities.

Production

Total corporate production is currently between 4,600 and 4,800 boe/d net. Arrow's base production has flattened out and is experiencing shallower declines, as expected.

Additional production is expected to be added during the second half of the year as Arrow focuses on an accelerated drilling program. In light of the recent movements in oil prices and current market volatility, Arrow has the ability to balance drilling infill and development wells with low-risk exploration activity which has the potential to increase Arrow's reserve base and build up drilling inventory.

Cash Balance

On July 1, 2025, the Company had a cash balance of US$13.5 million and held no debt. Further, the Company has no long-term rig contracts or obligations to drill wells. The Company has been able to carry out an accelerated drilling program while maintaining a healthy balance sheet.

The combination of cash on the balance sheet and robust operating cashflow continues to be a key corporate strength in this volatile market.

Drilling Operations - Tapir Block

Carrizales Norte field

On the Carrizales Norte field, the Company has recently drilled one vertical production well from the CN pad.

The Carrizales Norte 11 (CN 11) well was spud on April 2, 2025, and reached target depth on April 8, 2025. CN 11 targeted the C7 zone at Carrizales Norte field. The well was drilled to a total measured depth of 8371 MD feet (7798 feet true vertical depth) and encountered multiple hydrocarbon-bearing intervals.

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