SOURCE: Arrow Resources Development

Arrow Resources Development

November 23, 2009 11:16 ET

Arrow Files Third Quarter Report

NEW YORK, NY--(Marketwire - November 23, 2009) - Arrow Resources Development, Inc. (OTCBB: ARWD) has filed the Company's Form 10Q on November 19th, 2009. Arrow's filing was completed within the extension period to allow for the Company to include all information and data relating to, and necessary for, the completion of the Company's financial statements and management's discussion and analysis of financial condition and results of operations. The extension permitted the Company to include substantial infrastructure development and activities that occurred after the end of the third quarter. Subsequent to the end of the quarter, Arrow formed two Indonesian subsidiaries, PT Arrow Resources East and PT Arrow Renewable Energy. PT Arrow Renewable Energy's initial project will be a joint venture agreement with PT. Sumber Alam Utama (SAU) for the development of 10,000 MW (approximately 200 plants of 50 MW each) of electricity. PT. Sumber Alam Utama has gained approval to generate geothermal energy from the patent pending Single Well Engineered Geothermal System ("SWEGS") and will sell all energy production to PLN, the Indonesian utility for distribution to the local Indonesian market. The initial power plants will be built at the Company's plantation locations in Sulawesi, Indonesian.

About Arrow Resources Development, Inc.

Arrow Resources Development, Inc. develops and coordinates corporate operations, finance, sales and marketing activities along with the administration of the corporate citizenship programs for natural resource development companies in the Asian market. Its initial relationship with Arrow Pacific Resources Group Limited (BVI Company) is for the development of large scale plantation and farming operations in Indonesia. Arrow has signed a similar agreement with Gerakan Masyarakat Pelestari Lingkungan Hidup (GMPLH), and GMPLH's joint venture partner, PT Tiga Daun (Indonesian company owned by Arrow Pacific) for the large scale plantation/farming and ethanol plants in Indonesia. Arrow's agreements entitle the Company to 10% of all gross revenue generated by all their partners' plantation/farming including any and all sales of natural resources and derivative products. For more information about the company, please visit their website at

Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the Safe Harbors created thereby. The Company is a development stage firm that continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.

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