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Alvopetro Energy Ltd ALVOF


Primary Symbol: V.ALV

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. 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. Its Murucututu natural gas project extends across Blocks 183 and 197, both held 100% by the Company. There are three existing wells at the field, including the 197(1) well, the 183(1) well, and the 183-A3 well.


TSXV:ALV - Post by User

Post by IanB85on May 13, 2024 3:47pm
244 Views
Post# 36037424

Great news!

Great news!The independent expert had found for Alvopetro, increasing the company's stake in the unit to 56% from 49%. The partner disputed the decision, after which Alvopetro filed an emergency arbitration request before the International Chamber of Commerce seeking an injunction to make the decision effective from June 1. Alvopetro also requested compensation for damages and reimbursement for costs. The expert denied Alvopetro, but found the partner liable for 70% of the costs incurred by both parties, with Alvopetro picking up the tab for the remaining 30%.
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