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Alvopetro Energy Ltd V.ALV

Alternate Symbol(s):  ALVOF

Alvopetro Energy Ltd. is a Canada-based company, which is engaged in the exploration for, and the acquisition, development and production of, hydrocarbons in Brazil. The Company is specialized in the development of Brazil's independent onshore natural gas industry with the Company's Cabure natural gas asset and midstream projects. It has interests in the Cabure and Murucututu natural gas assets, two exploration blocks (Block 182 and Block 183) and two oil fields (Bom Lugar and Mae-da-lua), in the Reconcavo basin onshore Brazil. The Cabure Field extends across four blocks in the Reconcavo Basin in the state of Bahia in Brazil, two of which are held by the Company and two of which are held by its partner. The Company's Murucututu natural gas project extends across Blocks 183 and 197, both held 100% by it. The Company is producing approximately 14 barrels of oil and/or natural gas liquids (condensate) per day (bopd) based on field estimates.


TSXV:ALV - Post by User

Post by Ladrianon Mar 25, 2021 6:29pm
81 Views
Post# 32883295

Corey Ruttan - CEO of Alvo - on yearly results

Corey Ruttan - CEO of Alvo - on yearly results"The fourth quarter is the first full quarter of results from our Cabur project representing an important milestone. With production of 1,950 boepd and funds flow from operations of $4.3 million, these strong results allow us to now focus on reinvesting in growing our business and unlocking the rest of the natural gas potential in our opportunity inventory.  This potential is highlighted by our recently completed reserve and resource evaluations with 2P reserves of 9.6 mmboe, risked best estimate contingent Gomo resource of 3.5 mmboe, risked best estimate prospective Gomo resource of 12.1 mmboe, and risked prospective resource for our 183-B1 and 182-C1 exploration prospects of 2.6 mmboe and 2.2 mmboe respectively."
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