Mr. Marshall Abbott reports

ARROW ANNOUNCES APPRAISAL WELL M-6 RESULTS

Arrow Exploration Corp. has provided an update on the operational activity at the Mateguafa Attic field on the Tapir block in the Llanos basin of Colombia, where Arrow holds a 50 per-cent beneficial interest.

Mateguafa 6 well

The Mateguafa 6 well (M-6) well was spudded on Nov. 8, 2025, and reached target depth on Nov. 15, 2025. The M-6 well was drilled, on time and on budget, to a total measured depth of 10,000 feet (9,328 feet true vertical depth) and encountered multiple hydrocarbon-bearing intervals.

Arrow has put the M-6 well on production in the Carbonera C7 formation, which has approximately 18 feet of net oil pay (true vertical depth). The pay zone is a clean sandstone exhibiting an average porosity of 20 per cent with high resistivities. An electric submersible pump (ESP) has been inserted in the well after perforating.

The M-6 well also encountered approximately 30 feet of net oil pay (true vertical depth) in the Carbonera C9 formation (previously referred to as the Guadalupe formation) and 14 feet of net oil pay (true vertical depth) in the Lower Gacheta formation. Arrow plans to test these formations in future wells.

The well was put on production at a heavily restricted rate, 28/128 choke and 45-hertz pump frequency, of approximately 824 barrels of oil per day gross (412 barrels of oil per day net). The oil quality is 32-degree API and there is a 3-per-cent water cut (completion fluid and formation water).

The testing results indicate the well is capable of higher rates and the ultimate flow rate will be determined in the first few weeks of production.

Initial production results are not necessarily indicative of long-term performance or ultimate recovery.

Mateguafa 5 well

The Mateguafa 5 well (M-5) continues to produce at approximately 550 barrels of oil per day gross (275 barrels of oil per day net) with an 18-per-cent water cut. The M-5 well is producing from the C9 formation. The official designation of the formation was changed from the Guadalupe formation to the C9 formation after final analysis of the drill cuttings.

Mateguafa 7 well

The Mateguafa HZ7 (M-HZ7) well was spudded on Nov. 22, 2025. This horizontal well is targeting the C9 formation, which both M-5 and M-6 wells encountered and reinforced the horizontal development concept. Expectations are that the well will take two to three weeks to drill and complete and will be put on production in December.

Marshall Abbott, chief executive officer of Arrow, commented: "The M-6 well was drilled on time and on budget and initial production has exceeded expectations. In addition to the thick pay zones encountered in the C7 formation, an additional pay zone currently behind pipe, the C9, provides further production opportunities in the future.

"The M-6 well reinforces that the Mateguafa Attic discovery is material to Arrow and we are looking forward to the results of the horizontal well M-HZ7, which will further develop this discovery and help determine the extent of the pools and the potential reserves additions. Initial results indicate that the discovery will develop into another core area for Arrow with the potential for horizontal drilling development.

"We look forward to providing further updates on this low-risk development drilling program."

The company also announces the appointment of Hannam & Partners as its joint corporate broker to work alongside Canaccord Genuity and Auctus Advisors.

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 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. By way of a private commercial contract with the recognized interest holder before Ecopetrol SA, Arrow 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's seasoned team is led by a hands-on executive team supported by an experienced board. 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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