Mr. Marshall Abbott reports

ARROW ANNOUNCES GRANT OF STOCK OPTIONS

Arrow Exploration Corp. has granted stock options.

Stock option grant

The company has granted 9,843,887 stock options to directors, executives and employees, pursuant to the company's stock option plan. The plan is intended to assist in attracting, retaining, engaging and rewarding directors, officers and employees of the company, provide additional incentive to these people for their efforts on behalf of the company, and align with the enhancement of shareholder value. Under the plan, the company is able to issue options to a maximum of 10 per cent of the number of issued and outstanding common shares in the company from time to time. The PDMRs (persons discharging managerial responsibilities) listed in an attached table have been granted the options.

The options have a strike price of 37.5 cents and vest in thirds on each of the first, second and third anniversaries of grant. The options expire six months from vesting. Following these grants, the company shall have a total 26,765,000 options issued under the plan.

About Arrow Exploration Corp.

Arrow Exploration (operating in Colombia via 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, 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 Llanos, Middle Magdalena Valley (MMV) and Putumayo. 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. Arrow's 50-per-cent interest in the Tapir block is contingent on the assignment by Ecopetrol SA of such interest to Arrow. Arrow's seasoned team is led by a hands-on executive team supported by an experienced board.

We seek Safe Harbor.