Post by
Ladrian on Mar 25, 2021 6:29pm
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."