American Axle & Manufacturing HoldingsNYSE: AXL

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Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) this week reported impressive results from the first horizontal well on the Ubaque formation at the Carrizales Norte field in the Tapir block in Colombia that exceeded expectations. On the Carrizales Norte "B" pad, the new well, CNB HZ-1, is flowing at a restricted rate of 3,150 barrels a day gross and 1,575 net to Arrow with less than 1% water cut while still recovering load fluid.

Calgary, Alberta--(Newsfile Corp. - June 21, 2024) - Arrow Exploration Corp. (AIM: AXL) (TSXV: AXL) ("Arrow" or the "Company"), the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, has been notified that, for estate planning purposes, Gage Jull, Executive Chairman, and Joe McFarlane, Chief Financial Officer, have transferred the following number of common shares of nil par value from sole accounts into joint accounts with their respective spouses: Gage Jull - 5,993,508 Joe McFarlane - 5,557,840 Following these transfers, there is no change in the beneficial interest of shares in the Company of either Mr Jull or Mr McFarlane. For further Information, contact: Arrow Exploration Marshall Abbott, CEO+1 403 651 5995 Joe McFarlane, CFO+1 403 818 1033 Canaccord Genuity (Nominated Advisor andJoint Broker) Henry Fitzgerald-O'ConnorJames AsensioGeorge Grainger+44 (0)20 7523 8000 Auctus Advisors (Joint Broker) Jonathan Wright Rupert Holdsworth Hunt+44 (0)7711 627449 Camarco (Financial PR) Andrew Turner Rebecca Waterworth+44 (0)20 3781 8331 About Arrow Exploration Corp. Arrow Exploration Corp. (operating in Colombia via a branch of its 100% owned subsidiary Carrao Energy S.A.

Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) said results from the first horizontal well on the Ubaque formation at Carrizales Norte in Colombia had exceeded expectations. On the Carrizales Norte "B" pad, the new well, CNB HZ-1, is flowing at a restricted rate of 3,150 barrels a day gross and 1,575 net to Arrow with less than 1% water cut while still recovering load fluid.

American Axle (AXL) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) first quarter results show revenue more than doubled year-on-year, at $14.4 million from $6.9 million. It follows a campaign of successful well drilling in Colombia, and the profile promises to step up again in the coming months as Arrow moves to horizontal well drilling – which will yield greater volumes.

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Arrow Exploration Corp informed investors that it has begun drilling the CNB HZ-1 well, its initial horizontal well at the Tapir project in Colombia, which is aimed at the Ubaque formation. This follows the drilling of earlier wells in the region earlier this year.

American Axle (AXL) is a good option for investors seeking stocks that have shown strong momentum and are still reasonably priced. It passed our screening for stocks with fast-paced momentum at a good value.