Alvopetro Energy Ltd.

Alvopetro Energy Ltd. announces that we have completed drilling the 182-C1 well on our 100% owned and operated Block 182 in the Recôncavo basin. Based on open-hole wireline logs the well has discovered 25 metres of potential net natural gas pay, with an average porosity of 8.2%. President and CEO, Corey Ruttan commented: "Preliminary drilling results from our 182-C1 well represent the first successful step in our organic [...]

CALGARY, AB, April 7, 2022 Alvopetro Energy Ltd. announces March sales volumes of 2,512 boepd, including natural gas sales of 14.4 mmcfpd, associated natural gas liquids sales from condensate of 101 bopd and oil sales of 18 bopd, based on field estimates. Our March sales volumes bring our average daily sales for the first quarter of 2022 to 2,501 boepd, our highest quarterly sales volumes to-date, an increase of 3% over [...]

The Power Play by The Market Herald has announced the release of a new interview with Alvopetro Energy on their latest news. The Power Play by The Market Herald provides investors with a quick snapshot of what they need to know about the company's latest press release through exclusive insights and interviews with company executives. Alvopetro Energy shares financial results and provides operational update Alvopetro [...]

Alvopetro Energy Ltd. announces a US$0.08 per common share dividend, our year-end 2021 financial results, filing of our annual information form and an operational update. All references herein to $ refer to United States dollars, unless otherwise stated and all tabular amounts are in thousands of United States dollars, except as otherwise noted. President and CEO, Corey Ruttan commented: "With ongoing strong performance [...]

Alvopetro Energy Ltd. announces our reserves as at December 31, 2021 with total proved plus probable reserves of 8.7 mmboe and a before tax net present value discounted at 10% of $297.0 million. The before tax net present value of our 2P reserves increased by 52% from December 31, 2020, primarily due to increases in forecasted natural gas prices. 2P reserve volumes decreased by 9% due to 2021 production. In addition [...]

Alvopetro Energy Ltd. announces February sales volumes of 2479 boepd, including natural gas sales of 14.3 mmcfpd and associated natural gas liquids sales from condensate of 99 bopd based on field estimates. All natural gas sales in February are at our new contracted price of BRL1.94/m3 or $11.28/mcf . Thereafter, the rig will move onto the 183-B1 well on the adjacent Block 183. This well is expected to take approximately [...]

Alvopetro Energy Ltd. announces that, subject to regulatory approval, it has engaged the services of Independent Trading Group to provide market-making services in accordance with TSX Venture Exchange policies. ITG will trade shares of the Company on the TSXV and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the Company's common shares. Under the agreement [...]

Alvopetro Energy Ltd. announces January sales volumes of 2,509 boepd, including natural gas sales of 14.4 mmcfpd, associated natural gas liquids sales from condensate of 98 bopd, and oil sales of 15 boepd, based on field estimates, a 2% increase from our December 2021 average daily sales. Effective February 1, 2022, our natural gas price under our long-term gas sales agreement increased 48% to BRL1.94/m3 or $10.94/mcf [...]

Alvopetro Energy Ltd. announces December sales volumes of 2,457 boepd, including natural gas sales of 14.1 mmcfpd and associated natural gas liquids sales from condensate of 101 bopd, based on field estimates. Our December sales volumes bring our estimated fourth quarter average daily sales to 2,432 boepd, a decrease of 1% from the third quarter average sales of 2,459 boepd, and our average daily sales in 2021 to 2,358 [...]

Alvopetro Energy Ltd. announces that our Board of Directors has declared a quarterly dividend of US$0.06 per common share, payable in cash on January 14, 2022, to shareholders of record at the close of business on December 30, 2021. This dividend is designated as an "eligible dividend" for Canadian income tax purposes. Alvopetro's cash flows are linked to US dollars and as such, dividends are being paid in US dollars [...]