Alvopetro Energy Ltd.

Alvopetro Energy Ltd. announces our reserves as at December 31, 2022 with total proved plus probable reserves of 9.0 MMboe and a before tax net present value discounted at 10% of $348.2 million. 2P reserve additions replaced 132% of 2022 production. 2P reserve volumes increased by 3%, despite 0.9 MMboe of production in 2022, due to reserve additions associated mainly with two additional Murucututu development locations [...]

Alvopetro Energy Ltd. announces January 2023 sales volumes, our February 1, 2023 natural gas price redetermination, our 2023 capital plan and an operational update. President and CEO, Corey Ruttan commented: "Building on our record year in 2022 we are looking forward to our 2023 capital plan. Our focus this year is on adding production and reserves from our lower risk development opportunities. We have made the key [...]

Alvopetro Energy Ltd. announces record sales volumes in December 2022 and an operational update. December 2022 sales volumes December sales volumes averaged 2,785 boepd, including natural gas sales of 15.9 MMcfpd and associated natural gas liquids sales from condensate of 125 bopd, and 15 bopd of oil sales, based on field estimates, a 4% increase from our November 2022 average daily volumes. Our sales volumes averaged [...]

Alvopetro Energy Ltd. is pleased to announce that the TSX Venture Exchange has now approved the Company's proposed normal course issuer bid . Pursuant to the NCIB, Alvopetro is authorized to repurchase up to 2,876,414 common shares, representing 7.9% of the common shares outstanding as of January 3, 2023 and 10% of Alvopetro's "public float", over the period commencing on January 6, 2023 and ending on the earlier of [...]

Alvopetro Energy Ltd. announces November 2022 sales volumes and an operational update. November 2022 sales volumes November sales volumes averaged 2,667 boepd, including natural gas sales of 15.2 MMcfpd and associated natural gas liquids sales from condensate of 135 bopd, based on field estimates, a decrease of 2% from the October 2022 average daily volumes and an increase of 1% from our Q3 2022 average. Operational [...]

Alvopetro Energy Ltd. announces results from the third interval tested in our 183-B1 well on our 100% owned and operated Block 183. In July 2022, we completed drilling the 183-B1 exploration well to a total measured depth of 2,917 metres. Based on open-hole wireline logs and fluid samples confirming hydrocarbons, the well discovered hydrocarbons in multiple formations with a total of 34.3 metres of potential net [...]

Alvopetro Energy Ltd. announces initial results from the second interval tested in our 183-B1 well on our 100% owned and operated Block 183. In July 2022, we completed drilling the 183-B1 exploration well to a total measured depth of 2,917 metres. Based on open-hole wireline logs and fluid samples confirming hydrocarbons, the well discovered hydrocarbons in multiple formations with a total of 34.3 metres of potential net [...]

Alvopetro Energy Ltd. ; is pleased to announce a 50% increase in our quarterly dividend, to US$0.12 per common share, an intention to launch a share buyback program under a normal course issuer bid and operating and financial results for the third quarter of 2022 including another record quarter of funds flow from operations of $13.3 million. We will host a live webcast to discuss Q3 2022 results on Wednesday November 16 [...]

Alvopetro Energy Ltd. announces initial results from the first interval tested in our 183-B1 well on our 100% owned and operated Block 183 and October 2022 sales volumes. In July 2022, we completed drilling the 183-B1 exploration well to a total measured depth of 2,917 metres. Based on open-hole wireline logs and fluid samples confirming hydrocarbons, the well discovered hydrocarbons in multiple formations with a total of [...]

Alvopetro Energy Ltd. . We are pleased to announce drilling results from our 182-C2 well. We completed drilling the 182-C2 well to a total measured depth of 3,185 metres on our 100% owned and operated Block 182 in the Recôncavo basin. Based on open-hole wireline logs, at 2,607 metres total vertical depth , the well encountered 10.9 metres of potential net hydrocarbon pay in the Agua Grande Formation, with an average [...]