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.
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Alvopetro Energy Ltd.'svision is to become a leading independent upstream and midstream operator in Brazil. Our strategy is to unlock the on-shore natural gas potential in the state of Bahia in Brazil, building off the development of our Caburé natural gas field and our strategic midstream infrastructure.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
All amounts contained in this new release are in United States dollars, unless otherwise stated and all tabular amounts are in thousands of United States dollars, except as otherwise noted.
Abbreviations:
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bbls
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=
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barrels
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boepd
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=
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barrels of oil equivalent ("boe") per day
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bopd
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=
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barrels of oil and/or natural gas liquids (condensate) per day
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MMcf
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=
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million cubic feet
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MMcfpd
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=
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million cubic feet per day
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BOE Disclosure. The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet per barrel (6Mcf/bbl) of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions in this news release are derived from converting gas to oil in the ratio mix of six thousand cubic feet of gas to one barrel of oil.
SOURCE Alvopetro Energy Ltd.
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