# Arrow Provides Operational and Mid Year 2026 Reserves Update Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb Original source: https://www.newsfilecorp.com/release/314650/Arrow-Provides-Operational-and-Mid-Year-2026-Reserves-Update Publisher: newsfile Original announcement: 2026-09-17T06:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Arrow Exploration Corp. - Ticker: AXL - Exchange: Unavailable - Region: Colombia, Canada - Primary commodity: Oil - Secondary commodities: Natural gas - Document categories: Resource update, Economic study - Extracted: 2026-09-17 06:02:50 UTC Narrative sentiment: 0.90 · Bullish ## Minestarters Atlas summary Arrow Exploration Corp. announced a significant mid-year 2026 reserves update, reporting substantial increases across all reserve categories. Proved Developed Producing \(PDP\) reserves rose by 62% to 2.9 MMboe, while Total Proved \(1P\) reserves increased by 110% to 11.4 MMboe. Proved plus Probable \(2P\) reserves grew by 82% to 21.4 MMboe, and Proved plus Probable plus Possible \(3P\) reserves increased by 71% to 34.4 MMboe, driven by the Icaco field discovery in Colombia and the acquisition of the Thorsby asset in Canada. The update also shows corresponding increases in before and after-tax Net Present Value discounted at 10% \(NPV-10\). Reasoning: Arrow Exploration reported a substantial mid-year increase in all reserve categories, including Proved Developed Producing, Proved, Proved plus Probable, and Proved plus Probable plus Possible reserves, driven by new discoveries in Colombia and an acquisition in Canada. This growth is reflected in significantly higher Net Present Values, indicating a strong operational and strategic performance. - Positive factor: Significant reserve growth across all categories \(PDP +62%, 1P +110%, 2P +82%, 3P +71%\) - Positive factor: Growth driven by new discoveries \(Icaco field\) and strategic acquisition \(Thorsby asset\) - Positive factor: Substantial increase in before and after-tax NPV-10 across all reserve categories - Positive factor: Reserves evaluation prepared by independent qualified reserves evaluator \(BouryGEC\) and compliant with NI 51-101 and COGEH standards Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 38 ## Classification and evidence No classification tags are available. ## Extracted facts Stored fact records: 24. Some facts used in scoring do not have a stored record. ## Resource Estimates (24) ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-0) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: reserve - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:f2bb634ab67f42bec36e #### Resource Data - Category: proven - Tonnes: 2918000 - Grade Unit: boe #### Prior Estimate - Resource Date: 2026-08-15 - Prior Tonnes: 1801000 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: Proved Developed Producing reserves increased by 62% to 2.9 MMboe, indicating strong operational performance and successful integration of new assets. - Positive factor: Significant increase in Proved Developed Producing reserves \(+62%\) - Positive factor: Growth driven by new discoveries and acquisition Evidence · table > 2,918 Context: Proved developed producing #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: 2918000 against 1801000 previously ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-1) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: reserve - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:42d51302cf1044603682 #### Resource Data - Category: proven - Tonnes: 678000 - Grade Unit: boe #### Prior Estimate - Resource Date: 2026-08-15 - Prior Tonnes: 693000 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: Proved Developed Non-Producing reserves saw a minor decrease of 2%, which is not material in the context of overall reserve growth. - Negative factor: Slight decrease in Proved Developed Non-Producing reserves \(-2%\) Evidence · table > 678 Context: Proved developed non-producing #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Tonnage Decline** Polarity: negative Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. Why it applies: 678000 against 693000 previously ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-2) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: reserve - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:373fbc89eb710b7fcac4 #### Resource Data - Category: proven - Tonnes: 7785000 - Grade Unit: boe #### Prior Estimate - Resource Date: 2026-08-15 - Prior Tonnes: 2921000 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: Proved Undeveloped reserves increased by an exceptional 167%, highlighting substantial future development potential from new discoveries and acquisitions. - Positive factor: Exceptional increase in Proved Undeveloped reserves \(+167%\) - Positive factor: Indicates significant future development potential Evidence · table > 7,785 Context: Proved undeveloped #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: 7785000 against 2921000 previously ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-3) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: reserve - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:6adb729e461ddf9964fe #### Resource Data - Category: proven - Tonnes: 11380000 - Grade Unit: boe #### Prior Estimate - Resource Date: 2026-08-15 - Prior Tonnes: 5415000 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: Total Proved reserves more than doubled, increasing by 110%, which is a strong positive signal for the company's asset base and future production. - Positive factor: Exceptional increase in Total Proved reserves \(+110%\) - Positive factor: Strong indicator of overall project growth and de-risking Evidence · table > 11,380 Context: Total Proved #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: 11380000 against 5415000 previously ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-4) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: reserve - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:a650d2e37bb4bbbbcc6a #### Resource Data - Category: probable - Tonnes: 10039000 - Grade Unit: boe #### Prior Estimate - Resource Date: 2026-08-15 - Prior Tonnes: 6360000 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: Probable reserves increased by a strong 58%, contributing significantly to the overall resource base and future production potential. - Positive factor: Strong increase in Probable reserves \(+58%\) - Positive factor: Adds to the overall resource base and future potential Evidence · table > 10,039 Context: Probable #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: 10039000 against 6360000 previously ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-5) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: reserve - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:207976513528b2a11c4f #### Resource Data - Category: probable - Tonnes: 21419000 - Grade Unit: boe #### Prior Estimate - Resource Date: 2026-08-15 - Prior Tonnes: 11775000 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: Total Proved plus Probable reserves increased by an exceptional 82%, demonstrating a significant and confident expansion of the company's resource base. - Positive factor: Exceptional increase in Total Proved plus Probable reserves \(+82%\) - Positive factor: Indicates high confidence in the expanded resource base Evidence · table > 21,419 Context: Total Proved plus Probable #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: 21419000 against 11775000 previously ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-6) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: resource - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:2dfacab2e8ad1d849178 #### Resource Data - Category: inferred - Tonnes: 13055000 - Grade Unit: boe #### Prior Estimate - Resource Date: 2026-08-15 - Prior Tonnes: 8327000 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: Possible reserves increased by a strong 57%, indicating significant exploration upside and long-term potential for the company. - Positive factor: Strong increase in Possible reserves \(+57%\) - Positive factor: Highlights further exploration upside and long-term potential Evidence · table > 13,055 Context: Possible #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: 13055000 against 8327000 previously ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-7) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: resource - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:1491c276e87175cc28b6 #### Resource Data - Category: inferred - Tonnes: 34474000 - Grade Unit: boe #### Prior Estimate - Resource Date: 2026-08-15 - Prior Tonnes: 20102000 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: Total Proved plus Probable plus Possible reserves increased by a strong 71%, showcasing the significant overall resource potential of Arrow's assets. - Positive factor: Strong increase in Total Proved plus Probable plus Possible reserves \(+71%\) - Positive factor: Demonstrates significant overall resource potential Evidence · table > 34,474 Context: Total Proved plus Probable & Possible #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: 34474000 against 20102000 previously ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-8) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: reserve - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:76eb765c18b1b2c85b04 #### Resource Data - Category: proven #### Prior Estimate - Resource Date: 2026-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: The Before Tax NPV-10 for Proved Developed Producing reserves increased by 84%, reflecting the strong economic value added by recent operational successes. - Positive factor: Significant increase in Before Tax NPV-10 for Proved Developed Producing reserves \(+84%\) Evidence · table > 59,336 Context: Proved Developed Producing #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-9) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: reserve - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:76eb765c18b1b2c85b04 #### Resource Data - Category: proven #### Prior Estimate - Resource Date: 2026-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: The Before Tax NPV-10 for Proved Developed Non-Producing reserves saw a minor decrease of 7%, which is not material in the context of overall NPV growth. - Negative factor: Slight decrease in Before Tax NPV-10 for Proved Developed Non-Producing reserves \(-7%\) Evidence · table > 14,488 Context: Non-Producing #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-10) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: reserve - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:76eb765c18b1b2c85b04 #### Resource Data - Category: proven #### Prior Estimate - Resource Date: 2026-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: The Before Tax NPV-10 for Proved Undeveloped reserves increased by an exceptional 149%, indicating substantial future economic potential from these assets. - Positive factor: Exceptional increase in Before Tax NPV-10 for Proved Undeveloped reserves \(+149%\) - Positive factor: Highlights significant future economic potential Evidence · table > 119,643 Context: Undeveloped #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-11) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: reserve - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:76eb765c18b1b2c85b04 #### Resource Data - Category: proven #### Prior Estimate - Resource Date: 2026-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: The Before Tax NPV-10 for Total Proved reserves more than doubled, increasing by 102%, which strongly validates the economic value of the company's assets. - Positive factor: Exceptional increase in Before Tax NPV-10 for Total Proved reserves \(+102%\) - Positive factor: Strong validation of the company's asset value Evidence · table > 193,467 Context: Total Proved #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-12) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: reserve - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:9a9dc8f088c68f132c7e #### Resource Data - Category: probable #### Prior Estimate - Resource Date: 2026-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: The Before Tax NPV-10 for Probable reserves increased by a strong 46%, adding significant economic value to the company's overall resource base. - Positive factor: Strong increase in Before Tax NPV-10 for Probable reserves \(+46%\) - Positive factor: Adds significant economic value to the overall resource base Evidence · table > 216,340 Context: Probable #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-13) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: reserve - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:9a9dc8f088c68f132c7e #### Resource Data - Category: probable #### Prior Estimate - Resource Date: 2026-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: The Before Tax NPV-10 for Total Proved plus Probable reserves increased by an exceptional 68%, demonstrating significant economic de-risking and value creation for the company. - Positive factor: Exceptional increase in Before Tax NPV-10 for Total Proved plus Probable reserves \(+68%\) - Positive factor: Demonstrates significant economic de-risking and value creation Evidence · table > 409,807 Context: Total Proved plus Probable #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-14) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: resource - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:c01f93116c2abdbd3278 #### Resource Data - Category: inferred #### Prior Estimate - Resource Date: 2026-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: The Before Tax NPV-10 for Possible reserves increased by a strong 41%, indicating significant long-term economic upside for the company's assets. - Positive factor: Strong increase in Before Tax NPV-10 for Possible reserves \(+41%\) - Positive factor: Indicates significant long-term economic upside Evidence · table > 321,750 Context: Possible #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-15) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: resource - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:c01f93116c2abdbd3278 #### Resource Data - Category: inferred #### Prior Estimate - Resource Date: 2026-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: The Before Tax NPV-10 for Total Proved plus Probable plus Possible reserves increased by a strong 55%, highlighting the significant overall economic potential of Arrow's assets. - Positive factor: Strong increase in Before Tax NPV-10 for Total Proved plus Probable plus Possible reserves \(+55%\) - Positive factor: Highlights the overall economic potential of the company's assets Evidence · table > 731,557 Context: Total Proved plus Probable & Possible #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-16) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: reserve - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:76eb765c18b1b2c85b04 #### Resource Data - Category: proven #### Prior Estimate - Resource Date: 2026-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: The After Tax NPV-10 for Proved Developed Producing reserves increased by a strong 25%, indicating improved economic viability after tax considerations. - Positive factor: Strong increase in After Tax NPV-10 for Proved Developed Producing reserves \(+25%\) Evidence · table > 40,271 Context: Proved Developed Producing #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-17) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: reserve - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:76eb765c18b1b2c85b04 #### Resource Data - Category: proven #### Prior Estimate - Resource Date: 2026-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: The After Tax NPV-10 for Proved Developed Non-Producing reserves decreased significantly by 30%, which warrants further investigation despite overall positive results. - Negative factor: Significant decrease in After Tax NPV-10 for Proved Developed Non-Producing reserves \(-30%\) Evidence · table > 10,163 Context: Non-Producing #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-18) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: reserve - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:76eb765c18b1b2c85b04 #### Resource Data - Category: proven #### Prior Estimate - Resource Date: 2026-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: The After Tax NPV-10 for Proved Undeveloped reserves increased by an exceptional 186%, indicating substantial future economic potential even after tax considerations. - Positive factor: Exceptional increase in After Tax NPV-10 for Proved Undeveloped reserves \(+186%\) - Positive factor: Highlights significant future economic potential after tax Evidence · table > 79,510 Context: Undeveloped #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-19) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: reserve - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:76eb765c18b1b2c85b04 #### Resource Data - Category: proven #### Prior Estimate - Resource Date: 2026-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: The After Tax NPV-10 for Total Proved reserves increased by an exceptional 74%, providing strong validation of the company's asset value after tax considerations. - Positive factor: Exceptional increase in After Tax NPV-10 for Total Proved reserves \(+74%\) - Positive factor: Strong validation of the company's asset value after tax Evidence · table > 129,944 Context: Total Proved #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-20) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: reserve - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:9a9dc8f088c68f132c7e #### Resource Data - Category: probable #### Prior Estimate - Resource Date: 2026-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: The After Tax NPV-10 for Probable reserves increased by a strong 47%, adding significant economic value to the company's overall resource base after tax considerations. - Positive factor: Strong increase in After Tax NPV-10 for Probable reserves \(+47%\) - Positive factor: Adds significant economic value to the overall resource base after tax Evidence · table > 125,885 Context: Probable #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-21) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: reserve - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:9a9dc8f088c68f132c7e #### Resource Data - Category: probable #### Prior Estimate - Resource Date: 2026-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: The After Tax NPV-10 for Total Proved plus Probable reserves increased by an exceptional 60%, demonstrating significant economic de-risking and value creation for the company after tax. - Positive factor: Exceptional increase in After Tax NPV-10 for Total Proved plus Probable reserves \(+60%\) - Positive factor: Demonstrates significant economic de-risking and value creation after tax Evidence · table > 255,829 Context: Total Proved plus Probable #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-22) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: resource - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:c01f93116c2abdbd3278 #### Resource Data - Category: inferred #### Prior Estimate - Resource Date: 2026-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: The After Tax NPV-10 for Possible reserves increased by a strong 54%, indicating significant long-term economic upside for the company's assets after tax considerations. - Positive factor: Strong increase in After Tax NPV-10 for Possible reserves \(+54%\) - Positive factor: Indicates significant long-term economic upside after tax Evidence · table > 193,196 Context: Possible #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/arrow-provides-operational-and-mid-year-2026-reserves-update--338781b8-e5e1-4a0e-a375-6ab86a3011bb#fact-resource-facts-23) Arrow Exploration Corp. Assets · oil equivalent #### Identity - Project: Arrow Exploration Corp. Assets - Commodity: oil equivalent - Region: canada - Reported Region: Colombia, Canada - Ticker: AXL #### Resource scope - Estimate type: resource - Effective date: 2026-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Nilanjan Ganguly - Resource group id: resource:c01f93116c2abdbd3278 #### Resource Data - Category: inferred #### Prior Estimate - Resource Date: 2026-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: The After Tax NPV-10 for Total Proved plus Probable plus Possible reserves increased by a strong 57%, highlighting the significant overall economic potential of Arrow's assets after tax considerations. - Positive factor: Strong increase in After Tax NPV-10 for Total Proved plus Probable plus Possible reserves \(+57%\) - Positive factor: Highlights the overall economic potential of the company's assets after tax Evidence · table > 449,025 Context: Total Proved plus Probable & Possible #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.