CALGARY, ALBERTA--(Marketwired - Jun 30, 2015) - Alvopetro Energy Ltd. (TSX VENTURE:ALV) is pleased to announce that our 182(B1) well, located on Block 182 in the Recôncavo basin in the State of Bahia, Brazil, has discovered hydrocarbons. The 182(B1) well reached a total measured depth of 2,095 metres. While drilling, inflows of oil and solution gas were experienced into the wellbore from an over pressured [...]
CALGARY, ALBERTA--(Marketwired - May 25, 2015) - Alvopetro Energy Ltd. (TSX VENTURE:ALV) is pleased to provide an operational update and announce our first quarter 2015 financial and operating results. Operational Update We drilled our first conventional exploration well, 197(2), late in 2014, reaching a total depth of 1,669 metres. Based on logs, the well encountered 78 metres of potential net natural gas pay, with an [...]
CALGARY, ALBERTA--(Marketwired - May 8, 2015) - Alvopetro Energy Ltd. (TSX VENTURE:ALV) is pleased to announce the testing results from the third test interval of our 197(2) well and the acquisition of the remaining 50% working interest in Block 170. 197(2) Testing In December 2014, our 197(2) well located on Block 197 in the Recôncavo basin in the State of Bahia, Brazil, reached a total depth of 1,669 metres [...]
CALGARY, ALBERTA--(Marketwired - Apr 22, 2015) - Alvopetro Energy Ltd. (TSX VENTURE:ALV) is pleased to provide an operational update, our updated 2015 capital plan, announce our fourth quarter 2014 and year-end 2014 financial results and the filing of our annual information form. Operational Update We recently tested the first and second intervals of our 197(2) well. During the 72 hour test of each interval, the well [...]
CALGARY, ALBERTA--(Marketwired - Apr 17, 2015) - Alvopetro Energy Ltd. (TSX VENTURE:ALV) is pleased to announce the pressure transient analysis conducted on the first interval of our 197(2) well and the results of the test of the second interval. In December 2014, our 197(2) well located on Block 197 in the Recôncavo basin in the State of Bahia, Brazil, reached a total depth of 1,669 metres, discovered natural gas [...]
CALGARY, ALBERTA--(Marketwired - Apr 10, 2015) - Alvopetro Energy Ltd. (TSX VENTURE:ALV) announces that we have informed Brazil's National Agency of Petroleum, Natural Gas and Biofuels ("ANP") of our intention to relinquish Blocks 131, 132, 144, and 157 (collectively, the "Blocks"), in accordance with the associated concession contracts for these Blocks. Alvopetro acquired the Blocks in Brazil's 9th Bid Round and has [...]
CALGARY, ALBERTA--(Marketwired - Apr 6, 2015) - Alvopetro Energy Ltd. (TSX VENTURE:ALV) is pleased to announce results from the first interval tested in our 197(2) well. In December 2014, our 197(2) well located on Block 197 in the Recôncavo basin in the State of Bahia, Brazil, reached a total depth of 1,669 metres, discovered natural gas, and was cased and cemented. Based on logs, the 197(2) well encountered 78 [...]
CALGARY, ALBERTA--(Marketwired - Apr 1, 2015) - Alvopetro Energy Ltd. (TSX VENTURE:ALV) is pleased to announce an operational update and our 2014 year-end reserves. Operational Update In December 2014, our 197(2) well located on Block 197 in the Recôncavo basin in the State of Bahia, Brazil, reached a total depth of 1,669 metres, discovered natural gas, and was cased and cemented. Based on cased-hole sonic and [...]
CALGARY, ALBERTA--(Marketwired - Feb. 27, 2015) - Alvopetro Energy Ltd. (TSX VENTURE:ALV) announces the grant of stock options. Acknowledging current market conditions and commodity prices, Alvopetro is issuing a one-time grant of share based compensation, to reduce cash compensation, to our employees and further align their interests with those of our shareholders. Alvopetro has granted stock options to purchase 800,000 [...]
CALGARY, ALBERTA--(Marketwired - Dec 25, 2014) - Alvopetro Energy Ltd. (TSX-V:ALV) announces the grant of stock options. Alvopetro has granted stock options to purchase 1,430,000 common shares under Alvopetro's stock option plan, of which 1,032,500 were granted to directors and officers. Each stock option has an exercise price of Cdn.$0.40, being the volume weighted average trading price of Alvopetro's shares on the TSX [...]
CALGARY, ALBERTA--(Marketwired - Dec 15, 2014) - Alvopetro Energy Ltd. (TSX VENTURE:ALV) is pleased to announce that our 197(2) well, located on Block 197 in the Recôncavo basin in the State of Bahia, Brazil, has discovered natural gas. The 197(2) well reached a total depth of 1,669 metres and has been cased and cemented. Based on cased-hole sonic and neutron logs, the 197(2) well encountered 78 metres of potential net natural gas pay, with an average 33% water saturation, and an average porosity of 12%, using an 8% porosity cut-off. The 197(2) well offsets an existing discovery that has 67 metres of net pay. This offsetting well tested 3.6 mmcf/d and 21 bbls/d of condensate from a 4-metre perforated interval in the Caruaçu Member of the Maracangalha For... [...]
CALGARY, ALBERTA--(Marketwired - Nov 19, 2014) - Alvopetro Energy Ltd. (TSX VENTURE:ALV) is pleased to announce our third quarter 2014 financial and operating results and 2015 capital plan. Financial and Operating Highlights During the third quarter of 2014, we commenced drilling our 183(1) well and testing our 197(1) well. We drilled the 183(1) well to a total depth of 3,550 metres. Based on open-hole logs, the well [...]
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