Mr. Marshall Abbott reports

ARROW ANNOUNCES IAN LANGLEY HAS BEEN APPOINTED TO THE BOARD OF DIRECTORS

Ian Langley had accepted a position on Arrow Exploration Corp.'s board of directors which will become effective on Aug. 1, 2023.

Mr. Langley brings to the board more than 35 years of experience as both an executive and director in various businesses in the United Kingdom and abroad. Mr. Langley attended the PACE program at Manchester Business School and completed the certificate and diploma in industrial management courses at Wolverhampton University. Prior to this he completed a four-year engineering apprenticeship with British Rail Engineering Ltd. (BREL). From there Mr. Langley founded, ran and directed numerous private-equity-backed companies including Airswift, where Mr. Langley currently sits as the chairman of the board, and EPI Group where Mr. Langley sits as a non-executive chairman. Currently, Mr. Langley also sits as the non-executive director of the Berry Group and Boston Energy Ltd.

Mr. Langley has received industry recognition in these roles and won awards for his work including the BVCA Management Team of the Year, Sunday Times Fast Track, Top Track and Buyout. Track, EY EofY nominations, and others.

Marshall Abbott, chief executive officer of Arrow, commented:

"From a business and finance perspective, Mr. Langley brings to Arrow both broad, practical experience with a variety of public and private companies, and an in-depth expertise in financial regulations and processes. He is highly respected in his field, and we look forward to working with him in meeting our corporate strategic goals."

Further information in relation to the director appointment

Ian Michael Langley (aged 61) has confirmed that, other than the information disclosed herein, there are no matters to be disclosed under Rule 17 and paragraph (g) of Schedule 2 of the AIM (Alternative Investment Market) rules.

As at the date of appointment, Mr. Langley does not hold any common shares of Arrow.

Mr. Langley was a director of The Black Dress Company (U.K.) Ltd. from March, 2014, to July, 2022. The Black Dress Company (U.K.) entered into a creditors' voluntary liquidation on July 21, 2020, with the company subsequently dissolved on July 29, 2022. At the time of the dissolution the statement of affairs showed 574,000 pounds sterling of claims to unsecured creditors that were not paid, as well as 658,000 pounds sterling of outstanding creditors that had not filed claims/were not paid out.

There is no further information which is required to be disclosed under Schedule Two, paragraph (g) of the AIM rules for companies in respect of Mr. Langley.

About Arrow Exploration Corp.

Arrow Exploration (operating in Colombia through a branch of its 100-per-cent-owned subsidiary Carrao Energy SA) is a publicly traded company with a portfolio of premier Colombian oil assets that are underexploited and underexplored and offer high potential growth. The company's business plan is to expand oil production from some of Colombia's most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo basin. The asset base is predominantly operated with high working interests, and the Brent-linked light oil pricing exposure combines with low royalties to yield attractive potential operating margins. By way of a private commercial contract with the recognized interest holder before Ecopetrol SA, Arrow Exploration is entitled to receive 50 per cent of the production from the Tapir block. The formal assignment to the company is subject to Ecopetrol's consent. Arrow Exploration's seasoned team is led by a hands-on executive team supported by an experienced board. Arrow Exploration is listed on the Alternative Investment Market of the London Stock Exchange and on the TSX Venture Exchange under the symbol AXL.

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