Alvopetro Energy Ltd.

 Alvopetro Energy Ltd. announces an operational update and our second quarter financial and operating results. Operational Update Over the past four months we have made considerable progress in the development of our strategic natural gas assets in Bahia State in Brazil.  We finalized the terms of the unitization agreement for our Caburé natural gas field with the adjacent resource owner and have agreed to a [...]

CALGARY, June 6, 2018 /CNW/ - Alvopetro Energy Ltd. announces the completion of an independent reserves evaluation of our Caburé natural gas field and the Gomo gas discovered from our 183 and 197 wells, assigning total proved plus probable reserves of 5.7 MMboe with a before tax value discounted at 10% of US$124.0 million. Including these reserves, Alvopetro's net asset value has increased to CAD$2.20 per share [...]

CALGARY, May 15, 2018 /CNW/ - Alvopetro Energy Ltd. announces an operational update, our first quarter financial and operating results, and the annual grant of stock options to employees, directors and officers. Operational Update Over the past month we have finalized the terms of the unitization agreement and the unit development plan for our Caburé natural gas field and have executed a long-term natural gas sales [...]

CALGARY, May 7, 2018 /CNW/ - Alvopetro Energy Ltd. announces a long-term natural gas sales agreement and our natural gas commercialization plan.  These agreements are the foundation for unlocking significant value from our natural gas opportunities, including the value associated with our recently unitized Caburé natural gas field.  This is a precedent-setting agreement, being Bahiagás' first GSA with an [...]

CALGARY, April 20, 2018 /CNW/ - Alvopetro Energy Ltd. announces the finalization of the required unitization agreement and the unit development plan for our Caburé natural gas field and 198 wells).  Unitization Alvopetro and Imetame Energia Ltda. have negotiated a UOA and all related agreements.  The National Agency of Petroleum, Natural Gas and Biofuels of Brazil was initially engaged to arbitrate the terms of the [...]

CALGARY, March 20, 2018 /CNW/ - Alvopetro Energy Ltd. announces our year-end 2017 financial results, the filing of our annual information form and provides an operational update. Operational Update In 2017, the National Agency of Petroleum, Natural Gas and Biofuels of Brazil was engaged to arbitrate the terms of the unitization of our Caburé natural gas field and 198 wells) with the adjacent resource owners. In [...]

CALGARY, March 5, 2018 /CNW/ - Alvopetro Energy Ltd. announces our 2017 reserves. The reserves data set forth below is based upon an independent reserve assessment and evaluation prepared by Sproule International Limited dated March 5, 2018 with an effective date of December 31, 2017 . The Sproule Report has been prepared in accordance with the standards contained in the Canadian Oil and Gas Evaluation Handbook reserve [...]

CALGARY, Feb. 27, 2018 /CNW/ - Alvopetro Energy Ltd. announces results from our 183 well test, located on Block 183 in the Recôncavo basin in the State of Bahia, Brazil. We originally drilled the 183 well in 2014 to a total depth of 3,550 metres and, based on open-hole logs, encountered 168 metres of potential net hydrocarbon pay over several separate intervals, using a 6% porosity cut-off.  We initially planned to [...]

CALGARY, Jan. 15, 2018 /CNW/ - Alvopetro Energy Ltd. is pleased to announce initial results from the ANP Arbitration in connection with the unitization of our Caburé natural gas field and 198 wells) with the adjacent resource owners. Unitization Process The National Agency of Petroleum, Natural Gas and Biofuels of Brazil was engaged to arbitrate the terms of the unitization of our Caburé natural gas field [...]

CALGARY, Nov. 15, 2017 /CNW/ - Alvopetro Energy Ltd. is pleased to announce an operational update and our third quarter financial and operating results. Operational Update The National Agency of Petroleum, Natural Gas and Biofuels of Brazil is currently arbitrating the terms of the unitization of our Caburé natural gas field and 198 wells) with the adjacent resource owner. We have provided the ANP with all [...]