reports
- Daniel Slater
- Stephane Foucaud
Arrow Exploration Corp. (AIM: AXL): High flow rate at first Mateguafa ...
• M-HZ7, the first horizontal well at Mateguafa Attic, has been brought onstream in the C9 zone. It is producing on a small choke (25/128) at a restricted gross oil rate of 1,694 bbl/d (847 bbl/d net to Arrow), with oil quality of 30.6° API and a 4% water cut. This initial rate is approximately double that of the M-6 vertical well. • This is a highly encouraging result, as it demonstrates the potential to develop the Mateguafa Attic field with horizontal wells. It suggests the field is larger th...
- Daniel Slater
- Stephane Foucaud
AUCTUS ON FRIDAY - 28/11/2025
Arrow Exploration (AXL LN/CN)C; Target price of £0.40 per share: Another positive result at Mateguafa Attic – The M-6 vertical well has encountered 30 ft of net oil pay in the Carbonera C9 formation (previously named Guadalupe). This compares favourably with the results of the M-5 well that encountered ~ 26 feet of net oil pay in the same formation. This result provides a strong foundation for the first horizontal well at Mateguafa (M-HZ7), already spudded and expected to come onstream in Decemb...
- Stephane Foucaud
Arrow Exploration Corp. (AIM: AXL): Rebuilding cash momentum; Icaco pr...
• Arrow reported 3Q25 production of 4,214 boe/d, broadly in line with our ~4.4 mboe/d expectation. • The company held US$6.5 mm in cash at end‑September (with no debt), rising to US$8.2 mm by 1 November. • With only one rig currently in operation, recent drilling success at M‑5 and M‑6, and the imminent contribution from the M‑HZ7 horizontal well, we expect Arrow’s cash position to continue to strengthen. • The next four months will be very material. M‑HZ7 is the first horizontal well targeting...
- Daniel Slater
- Stephane Foucaud
Arrow Exploration Corp. (AIM: AXL): Another positive result at Mategua...
• The M-6 vertical well has encountered 30 ft of net oil pay in the Carbonera C9 formation (previously named Guadalupe). This compares favourably with the results of the M-5 well that encountered ~ 26 feet of net oil pay in the same formation. This result provides a strong foundation for the first horizontal well at Mateguafa (M-HZ7), already spudded and expected to come onstream in December. Additional horizontal wells could follow, with the Mateguafa Attic potentially proving more material tha...
- Stephane Foucaud
AUCTUS ON FRIDAY - 14/11/2025
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.20 per share: A$3.5 mm funding boost ahead of busy activity programme – ADX has raised A$3.5 mm through a new equity placement at A$0.026 per share. Investors in the placement will also receive one option for every two new shares subscribed, exercisable at A$0.039 per share. The capital raise strengthens ADX’s balance sheet ahead of its 2026 work programme and effectively removes the funding ov...
EGY VAALCO ENERGY INC.
TXP TOUCHSTONE EXPLORATION
GENL GENEL ENERGY
SQZ SERICA ENERGY
NTOG NOSTRA TERRA OIL & GAS COMPANY
FEC FRONTERA ENERGY CORP
AOI AFRICA OIL CORP
AXL. ARROW EXPLORATION LTD
TAL PETROTAL (TAL)
RECO RECONNAISSANCE ENERGY AFRICA LTD
ADX ADX ENERGY LTD
CDR CONDOR ENERGIES INC
PLSR PULSAR HELIUM INC.
- Daniel Slater
Arrow Exploration (AXL LN) - Successful Mateguafa-5 well result - BUY
Arrow has announced that it has successfully drilled and brought online the M-5 exploration well in the Mateguafa Attic prospect, supporting production and expanding its resource base as the company drills up its Tapir block in Colombia.
- Stephane Foucaud
Arrow Exploration Corp. (AIM: AXL): Discovery at Mateguafa Attic
• The M-5 vertical well at Mateguafa Attic encountered approximately 26 feet of net oil pay in high-quality Guadalupe sandstone (22% porosity), along with an additional 11 feet in the Carbonera C7 formation. The discovery will contribute new reserves, as none had previously been attributed to Mateguafa Attic. • The well was brought online in the Guadalupe interval, delivering a gross oil rate of 570 bbl/d with an 8% water cut on a tight 17/128 choke. Net to Arrow, this equates to ~285 bbl/d — a ...
- Stephane Foucaud
AUCTUS ON FRIDAY - 03/10/2025
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; Target price of £0.40 per share: Dry hole at Mateguafa Oeste but three more prospects to drill – The Mateguafa Oeste was water wet. Our ReNAV for the well was £0.09 per share. We did not carry any production from this prospect in our cash flow forecast. The rig will now move to Mateguafa Attic where the Mateguafa 5 vertical well will be drilled in November. This is a low risk well that is a step out to M...
TLW TULLOW OIL PLC
TXP TOUCHSTONE EXPLORATION
ENI ENI S.P.A.
PXT PAREX RESOURCES INC.
ENW ENWELL ENERGY
SQZ SERICA ENERGY
MATD PETRO MATAD
XOM EXXON MOBIL CORPORATION
BP. BP P.L.C.
ZPHR ZEPHYR ENERGY
JSE JADESTONE ENERGY
CRCL CORCEL
AXL. ARROW EXPLORATION LTD
J4V VAR ENERGI ASA
UKOG UK OIL & GAS PLC
PLSR PULSAR HELIUM INC.
- Hybridan Team
- Jon Levinson
Hybridan Small Cap Feast: 01/10/2025
1st October 2025 @HybridanLLP * A corporate client of Hybridan LLP. ** Potential means Intention to Float (ITF) or similar announcement has been made. ***Arranged by type of listing and date of announcement. ****Alphabetically arranged and priced on Share Price and Market Capitalisation during the time of writing on the day of Publication. Dish of the day Admissions: None Delistings: None What’s baking in the oven? Potential** Initial...
- Stephane Foucaud
Arrow Exploration Corp. (AIM: AXL): Dry hole at Mateguafa Oeste but th...
• The Mateguafa Oeste was water wet. Our ReNAV for the well was £0.09 per share. We did not carry any production from this prospect in our cash flow forecast. • The rig will now move to Mateguafa Attic where the Mateguafa 5 vertical well will be drilled in November. This is a low risk well that is a step out to Mateguafa 1 and Mateguafa 3, which together historically produced 0.6 mmbbl of oil out of the Carbonera zone, C7. This target is geologically independent from the Mateguafa Oeste prospect...
- Stephane Foucaud
AUCTUS ON FRIDAY - 05/09/2025
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Firming-up the exploration portfolio in Austria – ADX has matured its Austrian exploration portfolio following: (1) recent drilling results, (2) licence area modifications, and (3) updated technical evaluations. Excluding the Welchau-1 well drilled in 2024—where resource classification remains pending due to suspended flow testing (following an environmental objection)—ADX has del...
- Stephane Foucaud
Arrow Exploration Corp. (AIM: AXL): Potential reserves addition in the...
• Current production exceeds 4,800 boe/d, marking an increase of approximately 600 boe/d since the last reported figure on 28 August. • This uplift reflects the contribution of two new wells brought online. CN HZ13 is producing ~1,000 bbl/d gross (~500 bbl/d net) from the Ubaque reservoir, with a water cut of 32%. AB-3, a vertical well, has been recompleted in the C7 formation and is currently producing 840 bbl/d gross (420 bbl/d net) with a water cut of 73%. The well is still in clean-up phase....
- Stephane Foucaud
AUCTUS ON FRIDAY - 29/08/2025
Arrow Exploration (AXL LN/CN)C; Target price of £0.50 per share: High impact exploration drilling in 2H25 – 2Q25 production averaged 3,768 boe/d, impacted by water handling constraints and steeper-than-anticipated early declines at newly drilled wells. Current WI production stands at ~4,200 boe/d, down from the July peak of 4,600–4,800 boe/d, which reflected initial flush output from AB-HZ5 and AB-HZ4. While first-month decline rates are steep, Arrow has observed that post-month-one declines are...
ALVOF ALVOPETRO ENERGY LTD
KAR KAROON GAS AUSTRALIA LTD.
SAVE SAVANNAH ENERGY
GKP GULF KEYSTONE PETROLEUM LTD.
ZPHR ZEPHYR ENERGY
AXL. ARROW EXPLORATION LTD
PXEN PROSPEX ENERGY PLC
CEQ CRITERIUM ENERGY LTD.
NOG NOSTRUM OIL & GAS PLC
IVZ INVICTUS ENERGY
HEVI HELIUM EVOLUTION
INC. (HEVI)
- Stephane Foucaud
Arrow Exploration Corp. (AIM: AXL): High impact exploration drilling i...
• 2Q25 production averaged 3,768 boe/d, impacted by water handling constraints and steeper-than-anticipated early declines at newly drilled wells. • Current WI production stands at ~4,200 boe/d, down from the July peak of 4,600–4,800 boe/d, which reflected initial flush output from AB-HZ5 and AB-HZ4. While first-month decline rates are steep, Arrow has observed that post-month-one declines are minimal. For example, recent horizontal wells have delivered initial rates exceeding 1,000 bbl/d, decli...
- Daniel Slater
- Stephane Foucaud
AUCTUS ON FRIDAY - 18/07/2025
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; Target price of £0.70 per share: AB wells deliver flow rates above expectations – Current production ranges between 4,600 and 4,800 bbl/d driven by strong performance from two new horizontal wells at Alberta Llanos (AB). AB-HZ5, onstream for ~2 weeks, is producing 1,790 bbl/d (895 bbl/d net to Arrow), while AB-HZ4, online for over a month, continues to produce 880 bbl/d (440 bbl/d net). Both wells are ou...
EQNR EQUINOR ASA
GPRK GEOPARK
OMV OMV AG
TXP TOUCHSTONE EXPLORATION
GENL GENEL ENERGY
SEY STERLING ENERGY PLC
ENI ENI S.P.A.
SEI. SINTANA ENERGY
PEN PANORO ENERGY ASA
ENQ ENQUEST PLC
SNM SHAMARAN PETROLEUM CORP.
PHAR PHAROS ENERGY
GKP GULF KEYSTONE PETROLEUM LTD.
ZEN ZENITH ENERGY
BP. BP P.L.C.
CNE CANACOL ENERGY LTD
ZPHR ZEPHYR ENERGY
OKEA OKEA
JSE JADESTONE ENERGY
BWE BW ENERGY
CRCL CORCEL
AXL. ARROW EXPLORATION LTD
TAL PETROTAL (TAL)
- Daniel Slater
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