Alvopetro Energy Ltd.

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 [...]

Alvopetro Energy Ltd. announces that we have completed drilling our 57 well, located on Block 57 in the Recôncavo basin in the State of Bahia, Brazil. The 57 well reached a total measured depth of 1,499 metres and did not discover commercial quantities of hydrocarbons. Alvopetro is in the process of abandoning the wellbore. The 57 well satisfies our exploration work commitment on the block, subject to the approval [...]

Alvopetro Energy Ltd. announces an operational update and our second quarter financial and operating results. Operational Update Block 57 Exploration Prospect We have entered into an agreement to commence drilling our Block 57 exploration prospect and the drilling rig is now mobilizing. The 57 prospect is a multi-zone, pre-rift, oil exploration prospect targeting Agua Grande, Sergi and Boipeba formations. The well is [...]