Mr. Marshall Abbott reports

ARROW ANNOUNCES OPERATIONAL UPDATE

Arrow Exploration Corp. has provided an update on the recently drilled exploration well, Mateguafa Oeste-1, on the Tapir block in the Llanos basin of Colombia, where Arrow holds a 50-per-cent beneficial interest.

Drilling operations -- Mateguafa Oeste-1

The Mateguafa Oeste-1 (MO-1) exploration well was spudded on Sept. 21, 2025, and reached target depth on Sept. 26, 2025. The primary targets for the MO-1 well were the sands of the Ubaque formation, which have been prolific producing reservoirs in the nearby Carrizales Norte field. The well was drilled to a total measured depth (MD) of 9,718 feet (9,399 feet true vertical depth (TVD)). The well encountered reservoir sands of 27 feet TVD at the C7 zone and 290 feet TVD at the Ubaque zone. Unfortunately, both zones exhibited thin oil pay over water.

Accordingly, MO-1 well is being abandoned due to the lack of an economic discovery.

Drilling schedule

Currently, the drilling rig is moving to the Mateguafa Attic field to drill a vertical exploration well, Mateguafa-5 (M-5), a stepout well to Mateguafa-1 and Mateguafa-3, which together historically produced 630,000 barrels of oil out of the Carbonera zone, C7. This target is geologically independent from the Mateguafa Oeste prospect. The M-5 well is expected to spud early November and is targeting both the C7 and Ubaque reservoirs. On the basis of a successful well at M-5, the company plans to drill three additional wells, one vertical and two horizontal, on the prospect. The company then plans to test the Icaco, Macoya and Capullo prospects.

Marshall Abbott, chief executive officer of Arrow, commented: "The results of the Mateguafa Oeste-1 exploration well provide calibration for existing future prospects. The well was drilled under budget and successfully hit the reservoirs as delineated by geological and geophysical control. The well had thin oil pay over water and was deemed uneconomic. This is the first dry hole that Arrow has drilled out of 40 exploration and development wells to date.

"The rig is now moving to the Mateguafa Attic field, where we plan to drill the M-5 well targeting both the Ubaque and C7 zones. The well will also intercept both the Guadalupe and Gacheta formations. The M-5 well is a stepout well from the M-1 and M-3 wells that were successful wells drilled and produced by Mohave and Petrolco, respectively. The M-1 and M-3 wells were abandoned in 2013. With the 2023 3-D seismic acquisition we are able to drill closer to the Mateguafa fault into a higher part of the reservoir.

"We look forward to updating the market on the results of M-5 once the well has been evaluated and remain excited about the future prospectivity at the Icaco, Macoya and Capullo prospects.

"We appreciate the support of our long-standing shareholder base as well as the dedication of our talented staff."

About Arrow Exploration Corp.

Arrow Exploration (operating in Colombia through branches of its 100-per-cent-owned subsidiary Arrow Exploration Switzerland GmbH) 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 basins. 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. Pursuant to certain private agreements entered between Arrow and its partner, Arrow is entitled to receive 50 per cent of the production from the Tapir block and has the right to request approval to Ecopetrol SA for the assignment of 50 per cent of all rights, interests and obligations under the Tapir association contract. Arrow is listed on the AIM (Alternative Investment Market) of the London Stock Exchange and on TSX Venture Exchange under the symbol AXL.

Qualified person statement

The technical information contained in this announcement has been reviewed and approved by Grant Carnie, senior non-executive director of Arrow Exploration. Mr. Carnie was formerly a member of the Canadian Society of Petroleum Geologists, holds a BSc in geology from the University of Alberta, and has over 35 years of experience in the oil and gas industry.

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