Alvopetro Energy Ltd. announces that the Board of Directors, in consultation with management, have approved a grant of 500,000 deferred share units under the Company's Incentive Share Plan to the non-executive directors of the Board. The DSUs were granted in appreciation of the contribution efforts of each director to the Company's achievements and in recognition of the fact that in prior years, the annual cash [...]
Alvopetro Energy Ltd. announces May sales volumes, updated and improved 2021 EBITDA guidance, an operational update and plans to repay an additional $3.5 million of our outstanding credit facility balance. All references herein to $ refer to United States dollars, unless otherwise stated. Corey Ruttan, President and CEO commented: "With ongoing strong operational performance and an improved pricing outlook, I am very [...]
Alvopetro Energy Ltd. announces our first quarter 2021 financial results, formalization of our dividend policy and upcoming plans for a small lot common share buy-back. 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. Dividend Policy and Small Lot Common Share Buyback Alvopetro's Board of [...]
Alvopetro Energy Ltd. announces April sales volumes of 2,313 boepd, including natural gas sales of 13.3 mmcfpd and associated natural gas liquids sales from condensate of 99 bopd, based on field estimates, an increase of 6% from our average Q1 2020 sales volumes of 2,175 boepd. Corporate Presentation Alvopetro's updated corporate presentation is available on our website at: http://www.alvopetro.com/corporate-presentation [...]
Alvopetro Energy Ltd. ; announces a favorable amendment to our existing senior secured credit facility . The maturity date of the Facility has been extended by one year to October 8, 2023, the 3% per annum interest payable in kind has been eliminated effective April 15, 2021, and the covenants pertaining to the payment of dividends have been relaxed. With the elimination of the PIK interest, the effective interest rate [...]
Alvopetro Energy Ltd. announces March sales volumes of 2,383 boepd, including natural gas sales of 13.7 mmcfpd and associated natural gas liquids sales from condensate of 103 bopd, based on field estimates. Our March sales volumes bring our estimated first quarter daily sales to 2,175 boepd, an increase of 11.5% from the fourth quarter. March sales volumes represent our highest average monthly sales volumes to-date, all [...]
Alvopetro Energy Ltd. announces our year-end 2020 financial results and the filing of our annual information form. 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. Corey Ruttan, President and Chief Executive Officer, commented: "The fourth quarter is the first full quarter of results from our [...]
Alvopetro Energy Ltd. announces the results of an independent assessment of the Company's Gomo natural gas resource prepared by GLJ Ltd. dated March 23, 2021 with an effective date of December 31, 2020 . The GLJ Resource Report includes risked best estimate contingent resource of 3.5 mmboe with a before tax net present value discounted at 10% of $37.7 million and risked best estimate prospective resource of 12.1 mmboe [...]
Alvopetro Energy Ltd. announces our reserves as at December 31, 2020 with total proved plus probable reserves of 9.6 MMboe and a before tax value discounted at 10% of US$195.2 million, changes of 21% and respectively from our previous years reporting. The reserves data set forth herein is based on an independent reserve assessment and evaluation prepared by GLJ Ltd. dated March 8, 2021 with an effective date of December [...]
Alvopetro Energy Ltd. announces record daily average February sales volumes, updated results from our 183-1 deep basin Gomo natural gas well, and the early commencement of long-term debt repayments. February Sales Volumes Alvopetro's February natural gas sales averaged 12.7 mmcfpd with associated natural gas liquids sales from condensate of 99 bpd, for an overall daily average of 2,222 boepd, based on field estimates [...]
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 February 4th Small and Microcap Showcase are now available for on-demand viewing. https://bit.ly/3pPZeWX The company presentations will be available 24/7 for [...]
Alvopetro Energy Ltd. announces January sales volumes, our semi-annual natural gas price redetermination, and an operational update. January natural gas sales averaged 11.0 mmcfpd with associated natural gas liquids sales from condensate of 91 bopd, for an overall daily average of 1,923 boepd, based on field estimates. Our semi-annual gas price redetermination under our long-term gas sales agreement with Bahiagás was [...]
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