CALGARY, AB, Sept. 14, 2023 /CNW/ – Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces that our Board of Directors has declared a quarterly dividend of US$0.14 per common share, payable in cash on October 13, 2023, to shareholders of record at the close of business on September 29, 2023. This dividend is designated as an “eligible dividend” for Canadian income tax purposes. 

Dividend payments to non-residents of Canada will be subject to withholding taxes at the Canadian statutory rate of 25%.  Shareholders may be entitled to a reduced withholding tax rate under a tax treaty between … Continue Reading

CALGARY, AB, Sept. 7, 2023 /CNW/ – Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces August 2023 sales volumes and an operational update.

August 2023 Sales Volumes

August sales volumes averaged 1,852 boepd, including natural gas sales of 10.6 MMcfpd, associated natural gas liquids sales (“NGLs”) from condensate of 84 bopd, and oil sales of 8 bopd, based on field estimates. Of the total natural gas sales of 10.6 MMcfpd, 9.9 MMcfpd was from our Caburé field, with 0.7 MMcfpd from our Murucututu field. Natural gas production from our Murucututu field declined from 0.9 MMcfpd in July to 0.7 … Continue Reading

CALGARY, AB, Aug. 9, 2023 /CNW/ – Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) is pleased to announce financial results for the three and six months ended June 30, 2023 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 & CEO, Corey C. Ruttan commented:

“We continue to post strong results, generating an operating netback of $69.61 per boe and $11 million in funds flow from operations, highlighting the strong profitability of our operations. Our … Continue Reading

CALGARY, AB, July 6, 2023 /CNW/ – Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces June 2023 average sales volumes of 2,068 boepd, including natural gas sales of 11.8 MMcfpd, associated natural gas liquids sales from condensate of 99 bopd, and oil sales of 6 bopd, based on field estimates. Overall, our sales volumes averaged 1,975 boepd in the second quarter of 2023.

Corporate Presentation

Alvopetro’s updated corporate presentation is available on our website at:
http://www.alvopetro.com/corporate-presentation. 

Social Media

Follow Alvopetro on our social media channels at the following links:

Twitter – https://twitter.com/AlvopetroEnergy
Instagram – https://www.instagram.com/alvopetro/
LinkedIn – https://www.linkedin.com/company/alvopetro-energy-ltd… Continue Reading

CALGARY, AB, June 29, 2023 /CNW/ – Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces that we have completed drilling our BL-06 well on our 100% owned and operated Bom Lugar field in the Recôncavo Basin. Based on open-hole wireline logs the well has discovered a total of 35.4 metres of potential net oil pay, with an average porosity of 11.2% and average water saturation of 39.2%.

President & CEO, Corey C. Ruttan commented:

“We are very pleased with the initial results from our first Bom Lugar oil development well. Based on logs, the well encountered thicker than anticipated … Continue Reading

CALGARY, AB, June 15, 2023 /CNW/ – Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces that our Board of Directors has declared a quarterly dividend of US$0.14 per common share, payable in cash on July 14, 2023, to shareholders of record at the close of business on June 30, 2023. This dividend is designated as an “eligible dividend” for Canadian income tax purposes. 

Dividend payments to non-residents of Canada will be subject to withholding taxes at the Canadian statutory rate of 25%.  Shareholders may be entitled to a reduced withholding tax rate under a tax treaty between … Continue Reading

CALGARY, AB, June 6, 2023 /CNW/ – Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces May 2023 average sales volumes of 1,888 boepd, including natural gas sales of 10.7 MMcfpd, associated natural gas liquids sales from condensate of 94 bopd, and oil sales of 9 bopd, based on field estimates.

Corporate Presentation

Alvopetro’s updated corporate presentation is available on our website at:
http://www.alvopetro.com/corporate-presentation. 

Social Media

Follow Alvopetro on our social media channels at the following links:

Twitter – https://twitter.com/AlvopetroEnergy
Instagram – https://www.instagram.com/alvopetro/
LinkedIn – https://www.linkedin.com/company/alvopetro-energy-ltd
YouTube –https://www.youtube.com/channel/UCgDn_igrQgdlj-maR6fWB0w

Alvopetro Energy Ltd.’s vision is to become a leading independent … Continue Reading

CALGARY, AB, May 29, 2023 /CNW/ – Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces production commencement from our 197(1) well on our Murucututu natural gas field and an operational update.

197(1) Production Commencement (100% Alvopetro)

Earlier this month, we completed stimulation operations at our 197(1) well on our Murucututu natural gas field. We successfully stimulated four intervals in the well, injecting a total of 125 tonnes of sand into the formation. Following the stimulation, we completed a 63-hour clean-up flow period and recovered 1,156 bbls of frac fluid and flowed a total of 3.8 MMcf of natural gas. … Continue Reading

CALGARY, AB, May 10, 2023 /CNW/ – Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) is pleased to announce record financial results for the three months ended March 31, 2023, an operational update and details of our upcoming annual general and special meeting on June 21, 2023.  

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 & CEO, Corey C. Ruttan commented:

“Once again, we achieved record results this quarter, generating an operating netback of $66.61 per boe … Continue Reading

CALGARY, AB, May 10, 2023 /CNW/ – Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) is pleased to announce record financial results for the three months ended March 31, 2023, an operational update and details of our upcoming annual general and special meeting on June 21, 2023.  

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 & CEO, Corey C. Ruttan commented:

“Once again, we achieved record results this quarter, generating an operating netback of $66.61 per boe … Continue Reading

CALGARY, AB, May 4, 2023 /CNW/ – Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces April 2023 average sales volumes and an operational update and timing for release of our Q1 2023 results and earnings call.

April 2023 Sales Volumes

April sales volumes averaged 1,972 boepd, including natural gas sales of 11.3 MMcfpd and associated natural gas liquids sales from condensate of 84 bopd, based on field estimates. Sales volumes in April declined from our average Q1 2023 of 2,767 boepd. April sales volumes were lower due to reduced demand during the month from Bahiagás as well as higher … Continue Reading

CALGARY, AB, April 5, 2023 /CNW/ – Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces March 2023 average sales volumes of 2,690 boepd, including natural gas sales of 15.4 MMcfpd, associated natural gas liquids sales from condensate of 120 bopd and 8 bopd of oil sales, based on field estimates. Overall, our sales volumes averaged 2,767 boepd in the first quarter of 2023, an increase of 2% from the fourth quarter of 2022 and a new quarterly record for Alvopetro.

Corporate Presentation

Alvopetro’s updated corporate presentation is available on our website at:
http://www.alvopetro.com/corporate-presentation. 

Social Media

Follow Alvopetro on … Continue Reading