Statkraft to sell Enerfín Colombia to Ecopetrol
Statkraft has signed an agreement to sell Enerfín Colombia, its renewables portfolio in Colombia, to Ecopetrol.
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Yahoo
4 hours ago
- Yahoo
Nu's Digital Revolution: Growth, Value, and a Global Vision
Nu Holdings (NU, Financial) is considered one of the best growth stories coming from emerging markets. Thanks to its fast-growing revenues and earnings, a stable financial position, and a relatively low valuation, Nu has both size, speed, and room to grow. The company is gaining ground quickly, working flawlessly, and perhaps most importantly, doing it profitably. While the broader market was paying attention to a small EPS miss, Nu continued to deliver record revenues, increased customer involvement, and grew with unmatched efficiency in Latin America. When you consider Nu's banking move in Mexico, product diversification, and the growing interest from investors such as Cathie Wood and Baillie Gifford (Trades, Portfolio) (Trades, Portfolio) , it is easy to see that Nu Holdings is just getting started. Warning! GuruFocus has detected 6 Warning Sign with DASH. For investors looking for a high-growth company that is also affordable and has huge potential in the long run, Nu Holdings should be on their watchlist. Nu Holdings, known as Nubank, has transformed banking in Latin America by focusing on a digital-first, customer-obsessed approach. The company started in 2013 in Sao Paulo, Brazil, and now has grown into one of the world's largest digital banking platforms and caters to more than 114 million people across Brazil, Mexico, and Colombia. Nubank is partnering with innovative companies to offer a wide range of services to its customers. Above all, Nu works hard to provide affordable and accessible financial services to many people who have not had access before. Nu Holdings had a fantastic quarter; the market just didn't see it that way: Nu Holdings turned in a strong first quarter, demonstrating that, along with being a fast-growing digital bank, it is succeeding in growing profitably in Latin America. However, the market was not impressed. Shares fell 6.1% during after-hours trading as the company's GAAP earnings-per-share (EPS) was just $0.11 versus the $0.12 that analysts were expecting. The smaller-than-expected earnings, though flat since the last quarter and higher than a year back, triggered a sell-off that feels more like an automatic knee-jerk response than a reflection of the actual results. Customer growth driving the flywheel: Nu's success is mainly built on the strong growth it sees in customers, and this trend continues to impress. In Q1, the company gained 4.3 million new customers and now serves 118.6 million in total, which is up by 19% from the previous year. Brazil still remains the main focus, as Nu now serves 59% of Brazilian adults. Mexico and Colombia are also growing fast, adding 11 million and almost 3 million customers, respectively. Also, 83% of users are active, which reveals that these are not just temporary members; they regularly use the app and contribute to growing the monetization strategy. Financial muscle on full display: While EPS was a penny short, the rest of the company's financials are promising. Net income went up by 74% year-over-year (FX-neutral) to $557.2 million, and adjusted net income was $606.5 million. The company's revenues reached a new high of $3.2 billion, an increase of 40% FX-neutral. The company's efficiency ratio was 24.7%, which increased to 26.7% after taking out the one-time tax item, demonstrating that its operational efficiency wasn't dull either. Nu's scalability and disciplined cost control were reflected in a rise to $11.2 in ARPAC and the company's ability to limit the cost to serve per customer under $1. Although the risk-adjusted NIM went down to 8.2% due to credit costs and new operations, Brazil's main profitability did not weaken. A deposit engine that keeps getting stronger: Nu's deposits increased by 48%, reaching $31.6 billion, giving the company strong and low-cost funds. With a ratio of 44% loans to deposits, the bank can still safely increase its credit. Because of more borrowing and better credit mix choices, interest-earning assets rose by 62% YOY. The bottom line: Although Nu Holding's earnings fell short by a little, the stock still took a dip, but there is more to it. This quarter saw the company grow, improve its margins, and handle risks carefully. The fundamentals are not just there, but they are improving as well. All in all, the market's behavior seems to be a good buying opportunity rather than a matter of worry. Apart from its strong growth and profit, Nu Holdings has a very secure balance sheet. Thanks to a cash-to-debt ratio of a whopping 39.47 and having almost $14 billion in cash, this company is swimming in cash. As a result, NU's cash balance is around 40 times greater than its debt. Having so much cash is impressive, given that the company is still rapidly growing. With this much money, Nu is able to introduce itself to new markets, try new ideas, or handle challenges in business without hesitation. For investors, it is rare to see a business that aims high and has the resources to do so. The unique thing about Nubank is how it differs from ordinary banks, and that difference is intentional. The company does not have any physical branches. You can use the app for all your needs. Although this may seem basic today, it helps Nubank to massively improve margins by cutting infrastructure costs and soar ahead of traditional banks that pay for real estate. Next, we have crypto. While banks have yet to discuss crypto in detail, Nu Holdings has already launched Nubank crypto, making it possible for people to trade Bitcoin and Ethereum directly within the app. It is another way the business remains up-to-date and connected to its tech-savvy users. And let's not overlook the importance of the brand. Many people not only use Nubank, but also love it. It was placed at the top among all Brazilian companies, regardless of whether they were financial or not. It's not usual to see this level of trust and emotion in banking. All of this happens due to the culture, which feels more like a tech startup than a bank. Quick to act, product-focused, and customer-obsessed. As the financial industry moves slowly, Nu Holding's quick actions are highly beneficial. Nu Holdings is currently following a "Three Act Strategy" to make the largest and most loved retail bank in Latin America, offer services outside of finance, and build a global AI-based digital banking model. Under this strategy, the company has launched NuTravel, a service for planning trips within the app, and NuCel, its mobile virtual network operator (MVNO) service. They are intended to make Nu's offerings more varied and attract more customers. ? Adding to that, Nu Mexico made history in April when it was officially granted permission to become a bank. Consequently, this is Mexico's first SOFIPO to receive approval from the regulators and open doors for the company to expand its product lineup. The accounts have things like payroll services, higher deposit limits, and unlimited deposit insurance. While the change is being made, customers will continue to enjoy the same smooth experience online. Nu is expanding in Mexico, where it has over 10 million users and $1.4 billion invested, to help more people access financial services, as just five banks serve most of the population here. This action could really improve the current situation. In addition to thinking about how to expand globally, Nu Holdings is planning to relocate its legal domicile to the UK, which may also mean entering the United States as part of its strategy. The purpose of this move is to analyze different locations to find out if they are advantageous for the company, with a view to expanding internationally. ? Growth is not slowing down for Nu Holdings. Since the company has seen its revenue rise from $2.97 billion in 2022 to almost $8.27 billion by 2024, its growth in fintech for Latin America seems to accelerate even more in the next few years. Revenue is expected to grow at a rapid pace and reach $14.7 billion in 2025, $18.43 billion in 2026, and an even bigger $26.32 billion by 2027. Nu's model clearly shows its strength and the significant potential in the markets where it already operates. What's even more impressive is how quickly Nu is growing. The forward price-to-sales ratio is projected to fall from 4.30 in 2025 to just 2.40 by 2027. If this expectation is met, investors may see an increase in the amount of revenue they get for every dollar invested. Source: Consensus Revenue Estimates (Seeking Alpha) The earnings part is even better. Nu's EPS is expected to increase from $0.51 in 2025 to $0.99 by 2027, meaning it will almost double during those two years. EPS growth rates are accelerating year-over-year too, as analysts project a 24.91% rise in 2025, nearly 43% increase in 2026, and another 37% uptick in 2027. This positive trend is also seen in the company's expected forward PE ratio, which goes from 25.85 times in 2025 to 13.21 times by 2027. If things continue this way for Nu, the combination of strong earnings growth and valuation compression may lead to a powerful setup for long-term shareholders. Source: Consensus EPS Estimates (Seeking Alpha) The valuation of Nu at the moment is quite attractive. From the GF Value chart, $13.07 is the current stock price, while its intrinsic value is reported at $17.64. Therefore, it is said to be modestly undervalued, with an upside potential of roughly 35% if the company's progress continues. According to the chart, there is a clear upward trend through 2027, and prices are expected to rise steadily in all situations, even when the scenarios are kept conservative. The colored bands tell us about different outcomes, and even the worst-case scenario, where the price drops 30%, appears to suggest upside from the current point. Furthermore, its PEG ratio is 0.43 times, which is 38.4% lower than the sector median of 0.70, meaning the stock is growing quickly while being priced reasonably for its growth, which makes it even more attractive for long-term investors. Even though the P/E ratio of 29 times is much higher than the average, I still believe that NU is undervalued due to its impressive current and expected growth in revenue and EPS. NU's net income trailing twelve months (TTM) is already quite high, but owner earnings are where you see how much cash can be returned to its shareholders. The figure comes from taking our depreciation and amortization (D&A) total of $80 million and subtracting our estimated maintenance capital expenses. As most of Nu's spending is aimed at growing the business, we think around $69 million or 30% of its $231 million in capital expenditures is used for maintenance. As a result, we estimate that owner earnings are $2.16 billion. Since capital expenditures are just 3% of total revenue, Nu uses a model that allows most profits to be turned into free cash. It reveals how an online bank can operate more quickly and easily than a traditional bank with physical branches. Source: Author generated based on data and calculations Compared to its peers, Truist Financial (TFC, Financial) and PNC Financial Services Group (PNC, Financial), Nu is definitely unique and stands out. While TFC shares are currently trading for $41.09, the GF Value puts them at $29.88, meaning the stock is actually significantly overvalued right now. Meanwhile, PNC shares are trading at $179.44, which is quite close to the GF Value of $167.06, making it a fairly valued stock. To conclude, PNC is safe and reasonably valued, and TFC is expensive, but Nu combines impressive growth with low costs, making it rare in today's market. Source: Author generated based on historical data Based on the rapid growth expected for Nu Holdings and its current valuation, there are many reasons to be optimistic about the stock. The stock has increased by 23.24% this year so far, and at its current price of $13, it appears to be undervalued. Additionally, the PEG ratio shows that Nu is offering faster growth than most other companies at a lower cost. With all things considered, I believe a fair price target for Nu in a year is expected to be around $16 to $17, which represents a healthy upside while allowing for strong growth both this year and in the years to come if the company maintains its performance. Adding to the bullish case, most analysts are greatly optimistic about Nu's future prospects. Based on recent data, 17 analysts' targets indicate the stock could climb by 6.10% to $13.91 in the next 12 months and reach a maximum anticipated target of $18.9. All in all, Nu Holdings seems prepared for investors seeking future growth despite having a still-reasonable valuation. Nu Holdings has succeeded in offering profitable growth with a low valuation. This is probably the reason why Cathie Wood has taken notice of the company. Cathie didn't stop with Q4; she actually bought more of Nu's stock and increased her positions across different ARK funds. She's not alone either. Baillie Gifford (Trades, Portfolio) (Trades, Portfolio) , who is a long-term growth investor, also upped his stake and now holds over 17% more. In addition, Lee Ainslie (Trades, Portfolio) (Trades, Portfolio) nearly tripled his holdings by increasing them by almost 36%. Even after decreasing his holdings by 30%, Philippe Laffont (Trades, Portfolio) (Trades, Portfolio) holds over 55 million shares of Nu, which is the largest amount he holds in any company. Another way to put it is that it's a sign of being smart and strategic, not a sign of giving up. It is important to note that Warren Buffett (Trades, Portfolio) (Trades, Portfolio) 's Berkshire Hathaway bought shares in Nu Holdings when it went public in 2021, at about $9 per share. But recently in Q1, Buffett sold his shares in the stock. The reason could be that Nu relies on digital banking in Latin America, where the markets are experiencing economic volatility. That said, it's not necessarily about Nu's performance. In fact, Nu is still experiencing strong gains in both customers and earnings, despite the challenges Latin America is facing. While guru sells also exist, if a few of the best investors in the business are buying the same stock, it deserves attention. Growth, value, and confidence from major investors all fit together when it comes to Nu. Even though Nu Holdings is doing well, there are still some issues investors should be aware of. To begin, Nu's strategy for growth counts on everything being executed at the highest level. As the company expands into new areas such as crypto, mobile, and travel, it could lead to a shortage of resources. It is important to diversify, but focusing on too many things at once can cause problems and increase the risk of failure. Second, concerns about currency and inflation are a true challenge for Latin America. The main market for Nu, Brazil, is seeing an increase in inflation (around 5%) and a drop in the value of the real against the U.S. dollar. How the USD fluctuates against other currencies can reduce earnings, even if a company's business does well. We have seen a similar situation happen before, when Nu left Argentina because of high inflation and a volatile currency. Third, Nu should pay close attention to regulatory hurdles, as it is now transitioning to full banking status in Mexico. Regulatory approval can take a long time, and the outcome is hardly ever certain. Lastly, as Nu continues to accelerate its growth, being able to assess credit quality becomes very important. New market lending can cause more people to miss their loan payments, especially if the economy slows down. Nu Holdings checks a lot of boxes for long-term investors. It is growing quickly, has solid profitability, is well-managed, and clearly has potential for further upside. Yes, the recent EPS miss caused some worry in the market, but it's just a temporary disturbance. On a closer look, fundamentals are quite interesting as Nu is scaling rapidly, innovating with purpose, and gaining the support of both customers and top investors. Its cash-rich balance sheet, rising profit margins, and big opportunities in Latin America (and beyond) give it an edge in fintech. Like any other emerging market player, Nu faces risks, though it has shown it can handle them with agility. And with shares lower than their intrinsic value, investors have an opportunity to get in early before this company develops into a major financial institution of the digital age. This article first appeared on GuruFocus.
Yahoo
8 hours ago
- Yahoo
Arrow Announces Q1 2025 Interim Results and Provides Operational Update
Calgary, Alberta--(Newsfile Corp. - May 30, 2025) - 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, is pleased to announce the filing of its Interim Condensed (unaudited) Consolidated Financial Statements and Management's Discussion and Analysis ("MD&A") for the three months ended March 31, 2025, which are available on SEDAR ( and will also be available shortly on Arrow's website at and to provide an update on operational activity. Q1 2025 Highlights: Recorded $19.5 million of total oil and natural gas revenue, net of royalties, representing a 36% increase when compared to the same period in 2024 (Q1 2024: $14.4 million). Adjusted EBITDA(1) of $11.5 million, a 15% increase when compared to Q1 2024 (Q1 2024: $10 million). Average corporate production of 4,085 boe/d (Q1 2024: 2,730 boe/d). Realized corporate oil operating netbacks(1) of $38.66/bbl. Cash position of $24.9 million at the end of Q1 2025. Generated operating cashflows of $14.4 million (Q1 2024: $8.6 million). Drilled two additional development wells (AB 2 and AB 3) in the Alberta Llanos field in the Tapir block. Net income of $2.7 million. Completed shooting 90 km2 of new seismic data on the southeast section of the Tapir Block to identify and confirm existing prospects. (1)Non-IFRS measures - see "Non-IFRS Measures" section within the MD&A Post Period End Highlights: Spud the first horizontal well, AB HZ4, in the Alberta Llanos field in the Tapir block. CN HZ 10 and CN 11 brought on production. Entered into a $20 million prepayment agreement with an integrated energy company. Upcoming Drilling The rig has spud the AB HZ 4 well, the first horizontal well in the Alberta Llanos field, which is expected to be on production in June. Thereafter, the Company expects to drill another horizontal well on the Alberta Llanos pad. Arrow has also secured a second rig that will mobilize to the Rio Cravo Este (RCE) field to drill up to four development wells in RCE and will then mobilize to the Carrizales Norte pad for further development drilling. The first RCE well is expected to spud in early June. Total budgeted capital expenditures planned for 2025 is approximately $50 million, net to Arrow, of which $11.4 million was spent in Q1 2025. The capital program is expected to result in production for 2025 being significantly higher than current levels. Prepayment Agreement The Company has entered into a two-year crude prepayment agreement with an integrated energy major to market its oil production in Colombia. In exchange for the exclusive right to market the Company's oil production, the agreement provides access of up to US$20 million in prepaid crude sales in year one with the limit reducing to US$15 million in prepaid sales in year two at attractive interest rates. As at May 1, the Company's cash balances were $24 million. Marshall Abbott, CEO of Arrow Exploration Corp., commented: "The first quarter of 2025 has been exciting for Arrow. The two wells, AB 2 and AB 3 at Alberta Llanos, have highlighted the potential for horizontal development in the Ubaque as well as follow up zones in the C7 and Guadalupe." "During the dry summer months in the Llanos basin, the Company has developed a new road system from the Carrizales Norte pad to the Capullo pad, the Mateguafa Oeste pad and the Mateguafa Attic pad. These pads will be utilized in the Company's planned drilling program for the remainder of 2025. The Company has secured a second rig which is expected to spud the first of four wells at RCE in early June." "The Company completed a 90 km2 3D seismic program in the southeast section of the Tapir block. The seismic has been processed and is now being analyzed to help develop prospects for the 2026 drilling program." "In the first quarter of 2025, the Company put in place additional water disposal infrastructure in the form of the conversion of AB 2 into a water disposal well and the workover of RCE 1 and CN 4. We are also working towards the conversion of CN 5 into a water disposal well. AB 2 should be in operation in late Q2 and CN 5 in Q3. The wells at Carrizales Norte and Alberta Llanos have begun to produce more water than previously modeled, resulting in curtailment of production. The new water infrastructure is expected to create excess disposal capacity to allow for increases in pump speed on currently curtailed production and for the next development stage of 2025 budgeted projects." "Arrow is pleased to announce that it has entered into a prepayment financing agreement with an integrated energy major. The two-year agreement provides Arrow with access to up to US$20 million in prepaid crude sales, with the limit reducing to US$15 million after the first year. This facility provides Arrow with significant financial flexibility, allowing Arrow to pursue growth opportunities from acquisitions to expanded capital programs. In conjunction with the financing, the integrated energy major, through its Colombian subsidiaries, will become the exclusive marketer for all of Arrow's oil production." "Both Brent and AECO prices have been impacted by the volatility experienced in early 2025 but the Company still has very healthy netbacks from its Colombian oil production. Arrow's 2025 capital budget is expected to be paid for by available cash and cash flow from operations. Our focus for the remainder of 2025 will be to grow production, continue development at the Carrizales Norte, Rio Cravo Este and Alberta Llanos fields and explore low risk new prospects in the Tapir block." FINANCIAL AND OPERATING HIGHLIGHTS (in United States dollars, except as otherwise noted) Three months ended March 31, 2025 Three months ended March 31, 2024Total natural gas and crude oil revenues, net of royalties 19,506,125 14,404,921 Funds flow from operations (1) 9,745,553 7,210,683Funds flow from operations (1) per share - Basic($) 0.03 0.03Diluted ($) 0.03 0.02Net income 2,663,764 3,176,727Net income per share - Basic ($) 0.01 0.01Diluted ($) 0.01 0.01Adjusted EBITDA (1) 11,531,548 10,021,139Weighted average shares outstanding - Basic ($) 285,864,348 285,864,348Diluted ($) 294,094,348 292,791,385Common shares end of period 285,864,348 285,864,348Capital expenditures 11,379,180 6,281,328Cash and cash equivalents 24,946,934 11,606,342Current Assets 30,288,808 20,779,081Current liabilities 19,252,474 11,258,252Adjusted working capital (1) 11,036,334 9,520,829Long-term portion of restricted cash (2) 129,849 237,814Total assets 90,532,063 64,579,940 Operating Natural gas and crude oil production, before royalties Natural gas (Mcf/d) 1,851 1,760Natural gas liquids (bbl/d) 6 4Crude oil (bbl/d) 3,770 2,432Total (boe/d) 4,085 2,730 Operating netbacks ($/boe) (1) Natural gas ($/Mcf) ($1.00 )($0.14 ) Crude oil ($/bbl) $ 42.29$ 56.27Total ($/boe) $ 38.66$ 50.10(1)Non-IFRS measures - see "Non-IFRS Measures" section of the MD&A(2)Long term restricted cash not included in working capital DISCUSSION OF OPERATING RESULTS During Q1 2025, the Company's production has decreased due to natural declines and increasing water cuts across its fields in the Tapir block. Production growth is expected to resume once the Company develops additional water handling capacity and executes on the 2025 budget. Nevertheless, the Company has maintained good operating results and healthy EBITDA. Average Production by Property Average Production Boe/d Q1 2025 FY 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Oso Pardo 126 153 154 180 113 166 Ombu (Capella) - - - - - - Rio Cravo Este (Tapir) 1,118 1,294 1,178 1,078 1,283 1,644 Carrizales Norte (Tapir) 2,321 1,897 3,153 2,784 991 622 Alberta Llanos 205 7 26 - - - Total Colombia 3,770 3,351 4,511 4,042 2,387 2,432 Fir, Alberta 105 81 88 82 77 78 Pepper, Alberta 210 110 139 - 82 220 TOTAL (Boe/d) 4,085 3,542 4,738 4,124 2,546 2,730 The Company's average production for the three months March 31, 2025 was 4,085 boe/d which consisted of crude oil production in Colombia of 3,770 bbl/d, natural gas production of 1,851 Mcf/d, and minor amounts of natural gas liquids. The Company's Q1 2025 production was 50% higher than its Q1 2024 production and 14% lower than Q4 2024 due to natural declines and water handling capability. DISCUSSION OF FINANCIAL RESULTS During Q1 2025 the Company experienced a reduction in both crude oil and gas prices, as summarized below: Three months ended March 31 2025 2024 ChangeBenchmark PricesAECO (C$/Mcf) $ 2.19$ 2.55 (14%)Brent ($/bbl) $ 71.47$ 84.67 (16%)West Texas Intermediate ($/bbl) $ 71.40$ 76.95 (7%)Realized Prices Natural gas, net of transportation ($/Mcf) $ 1.51$ 1.87 (19%)Natural gas liquids ($/bbl) $ 62.02$ 66.20 (61%)Crude oil, net of transportation ($/bbl) $ 64.70$ 73.31 (12%)Corporate average, net of transport ($/boe) $ 60.48$ 66.58 (9%)(1)Non-IFRS measure OPERATING NETBACKS The Company also continued to realize good oil operating netbacks, as summarized below: Three months ended March 312025 2024Natural Gas ($/Mcf) Revenue, net of transportation expense $ 1.51$ 1.87Royalties($0.06 )($0.10 ) Operating expenses($2.45 )($1.91 ) Natural gas operating netback(1)($1.00 )($0.14 ) Crude oil ($/bbl) Revenue, net of transportation expense $ 64.70$ 73.31Royalties($7.76 )($9.00 ) Operating expenses($14.65 )($8.04 ) Crude oil operating netback(1) $ 42.29$ 56.27Corporate ($/boe) Revenue, net of transportation expense $ 60.48$ 66.58Royalties($7.19 )($8.08 ) Operating expenses($14.63 )($8.40 ) Corporate operating netback(1) $ 38.66$ 50.10(1)Non-IFRS measure The operating netbacks of the Company have been affected in 2025 due to increasing water production from its Colombian assets and decreased crude oil prices. During Q1 2025, the Company incurred $11 million of capital expenditure, primarily in connection with the drilling of additional Alberta Llanos wells in the Tapir block. This tempo is expected to continue during the remainder of 2025, funded by cash on hand and cashflow. The Company also confirms that its audited financial statements and MD&A for the year ended 31 December 2024 were posted to UK shareholders on May 29, 2025 and are also available on its website. For further Information, contact: Arrow ExplorationMarshall Abbott, CEO +1 403 651 5995 Joe McFarlane, CFO +1 403 818 1033 Canaccord Genuity (Nominated Advisor and Joint Broker)Henry Fitzgerald-O'Connor +44 (0)20 7523 8000 James Asensio George Grainger Auctus Advisors (Joint Broker)Jonathan Wright +44 (0)7711 627449 Rupert Holdsworth Hunt Camarco (Financial PR)Owen Roberts +44 (0)20 3781 8331 Rebecca Waterworth About Arrow Exploration Corp. Arrow Exploration Corp. (operating in Colombia via a branch of its 100% owned subsidiary Carrao Energy S.A.) is a publicly traded company with a portfolio of premier Colombian oil assets that are underexploited, under-explored and offer high potential growth. The Company's business plan is to expand oil production from some of Colombia's most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin. The asset base is predominantly operated with high working interests, and the Brent-linked light oil pricing exposure combines with low royalties to yield attractive potential operating margins. Arrow's 50% interest in the Tapir Block is contingent on the assignment by Ecopetrol SA of such interest to Arrow. Arrow's seasoned team is led by a hands-on executive team supported by an experienced board. Arrow is listed on the AIM market of the London Stock Exchange and on TSX Venture Exchange under the symbol "AXL". Forward-looking Statements This news release contains certain statements or disclosures relating to Arrow that are based on the expectations of its management as well as assumptions made by and information currently available to Arrow which may constitute forward-looking statements or information ("forward-looking statements") under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that Arrow anticipates or expects may, could or will occur in the future (in whole or in part) should be considered forward-looking statements. In some cases, forward-looking statements can be identified by the use of the words "continue", "expect", "opportunity", "plan", "potential" and "will" and similar expressions. The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of Arrow, including without limitation, Arrow's evaluation of the impacts of global pandemics, the potential of Arrow's Colombian and/or Canadian assets (or any of them individually), the prices of oil and/or natural gas, and Arrow's business plan to expand oil and gas production and achieve attractive potential operating margins. Arrow believes the expectations and assumptions reflected in the forward-looking statements are reasonable at this time, but no assurance can be given that these factors, expectations, and assumptions will prove to be correct. The forward-looking statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Glossary Bbl/d or bop/d: Barrels per day$/Bbl: Dollars per barrelMcf/d: Thousand cubic feet of gas per dayMmcf/d: Million cubic feet of gas per day$/Mcf: Dollars per thousand cubic feet of gasMboe: Thousands of barrels of oil equivalentBoe/d: Barrels of oil equivalent per day$/Boe: Dollars per barrel of oil equivalentMMbbls: Million of barrels BOE's may be misleading particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 bblis based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. This Announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). Non‐IFRS Measures The Company uses non-IFRS measures to evaluate its performance which are measures not defined in IFRS. Working capital, funds flow from operations, realized prices, operating netback, adjusted EBITDA, and net debt as presented do not have any standardized meaning prescribed by IFRS and therefore may not be comparable with the calculation of similar measures for other entities. The Company considers these measures as key measures to demonstrate its ability to generate the cash flow necessary to fund future growth through capital investment, and to repay its debt, as the case may be. These measures should not be considered as an alternative to, or more meaningful than net income (loss) or cash provided by operating activities or net loss and comprehensive loss as determined in accordance with IFRS as an indicator of the Company's performance. The Company's determination of these measures may not be comparable to that reported by other companies. NOT FOR RELEASE, DISTRIBUTION, PUBLICATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION. To view the source version of this press release, please visit Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Bloomberg
21 hours ago
- Bloomberg
Juicy Carry Is Fueling a ‘Pain Trade' for Colombia Peso Bears
Slumping oil prices, a widening budget deficit and a leftist leader pushing for lower interest rates: At first glance, it's the perfect setup for currency traders to bet against Colombia. Yet the Colombian peso has risen nearly 3% against the dollar this month, leading the pack among Latin American currencies and extending its year-to-date advance.
