Arrow Energy Ltd.
TSX VENTURE : AOF

Arrow Energy Ltd.

September 27, 2005 18:15 ET

Arrow Announces Successful Well

CALGARY, ALBERTA--(CCNMatthews - Sept. 27, 2005) -

(Not for dissemination in the United States of America)

Arrow Energy Ltd. (TSX VENTURE:AOF) (Arrow) is pleased to report that the Company has participated in a successful well (40% W.I.) in one of its core areas that has tested natural gas at a gross rate of 1.0 Mmcf/day at 5,174 Kpa flowing pressure. The flow rate and flowing pressure were relatively stable throughout the entire three day flow period.

Arrow has recently surveyed a follow-up location targeting a similar seismic anomaly in the same area and anticipates that drilling will commence by the middle of October.

In addition, a farm-out well in Northern Alberta was successfully cased as a gas well. Arrow retains a 25% W.I. at tie-in and anticipates that completion and testing will occur during the month of October.

As previously announced, Arrow continues to evaluate strategic alternatives with the intent of maximizing shareholder value.

Arrow Energy Ltd., a Calgary based company, engages in the exploration, development, acquisition and production of natural gas and light gravity crude oil reserves in Western Canada. With a focus on natural gas, Arrow's primary area of exploration is in central Alberta.

This press release includes forward-looking statements and assumptions respecting the Company's strategies, future operations, expected financial results, financing sources, commodity prices, costs of production and quantum of oil and natural gas reserves and discusses certain issues, risks and uncertainties that can be expected to impact on any of such matters. By their nature, forward-looking statements are subject to numerous risks and uncertainties that can significantly affect future results. Actual future results may differ materially from those assumed or described in such forward-looking statements as a result of the impact of issues, risks and uncertainties whether described herein or not, which the Company may not be able to control. The reader is therefore cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any intention or obligation to update or revise these forward-looking statements, as a result of new information, future events or otherwise.

Notes on Abbreviations

Kpa means kilopascal

Mmcf means a million cubic feet of natural gas. Mmcf/d means Mmcf per day.

Mcf means a thousand cubic feet of natural gas. Mcf/d means Mcf per day.

W.I. means working interest

PV means present value

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Arrow Energy Ltd.
    Eric G. Gosselin
    President & CEO
    (403) 266-4536
    Email: gosseline@arrow-energy.com
    or
    Arrow Energy Ltd.
    Jeff Thomson
    VP Finance & CFO
    (403) 538-3465
    Email: thomsonj@arrow-energy.com
    or
    Arrow Energy Ltd.
    Suite 300, 407 - 2nd Street S.W.
    Calgary, Alberta T2P 2Y3
    (403) 266-4564 (FAX)