Alvopetro Energy Ltd.

Alvopetro Energy Ltd. announces our reserves as at December 31, 2019 with total proved plus probable reserves of 7.9 MMboe and a before tax value discounted at 10% of US$198.2 million, increases of 30% and 37% respectively. The reserves data set forth herein is based on an independent reserve assessment and evaluation prepared by GLJ Petroleum Consultants dated March 6, 2020 with an effective date of December 31, 2019 [...]

Alvopetro Energy Ltd. announces updated results from our post-stimulated Gomo 183 well test. Gomo Tight Gas Resource - 183 Well Test Our 183 well, located on Block 183 in the Recôncavo basin in the State of Bahia, Brazil was originally drilled in 2014 to a total depth of 3,550 metres. We completed the stimulation of an 18-metre zone in the Gomo Member of the Candeias Formation. We commenced a flowback and clean-up [...]

Alvopetro Energy Ltd. announces preliminary results from our post-stimulated Gomo 183 well test, and an operational update. Gomo Tight Gas Resource - 183 Well Test Our 183 well, located on Block 183 in the Recôncavo basin in the State of Bahia, Brazil was originally drilled in 2014 to a total depth of 3,550 metres. We recently completed the stimulation of an 18 metre zone in the Gomo Member of the Candeias [...]

Individual and institutional investors as well as advisors are invited to log-on to VirtualInvestorConferences.com to view presentations Virtual Investor Conferences, the leading proprietary investor conference series, today announced that the presentations from the December 4th and 5th conference are now available for on-demand viewing at VirtualInvestorConferences.com. The event featured presentations from OTCQX [...]

Company executives will share vision and answer audience questions at VirtualInvestorConferences.com Virtual Investor Conferences today announced the agenda for the upcoming Virtual lnvestor Conference, the leading proprietary investor conference series.  Individual investors, institutional investors, advisors and analysts are invited to attend. The program opens at 9:15 AM ET on Wednesday, December 4th and Thursday [...]

Company executives will share vision and answer audience questions at VirtualInvestorConferences.com Virtual Investor Conferences today announced the agenda for the upcoming Virtual lnvestor Conference, the leading proprietary investor conference series.  Individual investors, institutional investors, advisors and analysts are invited to attend. The program opens at 9:15 AM ET on Wednesday, December 4th with the first [...]

Alvopetro Energy Ltd. announces an operational update and our third quarter financial and operating results. Operational Update Caburé Unit Development The Caburé Unit development plan includes construction of high-pressure facilities, tie-in of all wells, and drilling up to four new wells. The first two wells were drilled in the third quarter and the third well has just reached total depth. The first well [...]

Alvopetro Energy Ltd. announces first funding on our previously announced Credit Agreement and an operational update. Credit Facility Funding In connection with our US$15 million Credit Agreement announced on September 23, 2019, we have satisfied all conditions to funding and funds from our first draw have been received. Net proceeds of the Facility will be used to fund: our recently drilled well on Block 57; the [...]

Alvopetro Energy Ltd. announces that we have entered into a US$15 million Credit Agreement with Cordiant Capital Inc. and its affiliates .  The Facility is secured by all of Alvopetro's assets, matures three years from the first funding date and bears cash interest at a rate of 9.5% per annum, payable monthly.  Upon repayment of any Facility amounts, Alvopetro will also make a payment of interest in kind at a rate of 3.0 [...]

Alvopetro Energy Ltd. announces an operational update on our Caburé Midstream Project consisting of our 11-kilometre transfer pipeline and our gas treatment facility . Caburé Midstream Project Construction of the Transfer Pipeline commenced with right of way preparation in May 2019. Line pipe has been laid out along 71% of the right of way. Over 42% of the pipe has now been welded and 14% has been installed [...]