Arrow Exploration Corp 49.5% potential upside indicated by Canaccord Genuity

Arrow Exploration Corp with ticker (LON:AXL) now has a potential upside of 49.5% according to Canaccord Genuity.

AXL.L

Canaccord Genuity set a target price of 42 GBX for the company, which when compared to the Arrow Exploration Corp share price of 28 GBX at opening today (16/07/2024) indicates a potential upside of 49.5%. Trading has ranged between 17 (52 week low) and 30 (52 week high) with an average of 1,222,312 shares exchanging hands daily. The market capitalisation at the time of writing is £145,780,131.

Arrow Exploration Corp. is a Canada-based junior oil and gas company. The Company is engaged in the acquisition, exploration and development of oil and gas properties in Colombia and in Western Canada. The Company operates through two segments: Colombia and Canada. In the Llanos Basin, the Company is engaged in the exploration, development, and production of oil within the Tapir block. Its assets include Tapir Block, Santa Isabel (Oso Pardo), and Capella Field. The Company owns a 50% interest in Tapir Block with approximately 65,154 gross acres (32,577 acres net). Its Oso Pardo Field is located in the Santa Isabel Block in the Middle Magdalena Valley (MMV) Basin. The Company also owns approximately 10% interest in the Ombu Block, which contains the Capella discovery. The Capella Field produces approximately 2,250 billion barrels per day (bbl)/d (225 bbl/d net).