Arrow Exploration AXL.V
By My Numbers Arrow: AXL
Oil in Columbia - Natural gas in Alberta
Share Price as of Nov. 21st - .32 cents
Oil wells:
RCE - 3 Well spud Feb. @ 426 b/d
RCE - 4 Well spud March @ 487 b/d
RCE - 5 Well spud April @ 340 b/d
April to June average oil price: $73.76
July to Sept. average oil price: $82.30 11.5% increase
Quarter 3 results due Nov.28th
Share price stats:
Low for year: Mar. 20th .26 cents
High for year: May 29th .43 cents day after Q1 financials
Stock price: Aug. 29th .31 cents day after Q2 financials
Well CN-1 production release June 19th share price .38 cents
CN-2 production release July 27th, share price .34 cents
CN-3 production release Sept. 18th share price .38 cents
Lowest s/p since May high: .30 cents
Highest s/p last 3 months .38 cents Sept. 18th
Expecting update on well Oso Pardo 3 soon. (Maybe on Financials?)
Forth quarter 2023 drilling:
RCE - 6 On production Nov 16th @ 417 b/d s/p .32 cents
RCE - 7 Spud Nov 14th - waiting on news
RCE - 8 Drilling late Nov. or early Dec.
OSP - 3 Spud Oct 27th - production around end of month
OSP - 4 Drilling very soon
2021 Net Revenuw - $ 6.5 million
2022 Net Revenue - $ 25 million
2023 Net rev. 6 month to June 30th - $ 17.2 million
Q1 - $ 6.9 million Q2 - $ 10.3 million
Guesstimate of Quarter 3 2023 revenue of $ 15.2 million
This is my personal "guesstimate" and may not reflect reality!
Oil (Columbia) and Natural Gas (Alberta) splits
2022 Oil 63% - Gas 37%
2023 June 30th Oil 82% - Gas 18%
2nd Quarter 2023 average production 2169 boe/d
3rd Quarter 2023 "guesstimate" average of 2820 boe/d
Based on full continuous production in the quarter
Shares Fully Diluted Nov. 2023 286 million shares
Forward 2024
First quarter building a new drill pad on the CN production site with the intention of drilling the first of 6 horizontal wells on completion.
AXL objective going into 2023 to hit 3000 boe/d in 18 months. Should well surpass that by end of 2023.
They are also encouraged by the initial interpretation of the Tapir 3D seismic and look forward to providing further updates in due course.
This is a 134 square kilometer 3D seismic project.
