Arrow Expands Canadian Footprint with Thorsby Property Acquisition

Arrow Exploration Corp. has acquired a producing oil property in Central Alberta, Canada, for approximately USD 8.9 million.

The Thorsby area asset currently produces about 550 barrels of oil equivalent per day and was purchased from existing cash reserves.

The acquisition adds a significant reserve base to Arrow's portfolio, with an estimated 4.973 million barrels of oil equivalent in proved reserves and 7.537 million boe of proved plus probable reserves.