Alvopetro Energy Reports Strong Sales Volumes in June 2024

Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) has announced impressive sales volumes for the month of June 2024. The company reported sales of 1,669 barrels of oil equivalent per day (boepd), which includes natural gas sales of 9.6 million cubic feet per day (MMcfpd), associated natural gas liquids sales from condensate of 67 barrels of oil per day (bopd), and oil sales of 10 bopd. These figures are based on field estimates.

During the second quarter of 2024, Alvopetro’s sales averaged 1,629 boepd, slightly lower than the 1,701 boepd recorded in the first quarter. Despite this slight decrease, the company remains optimistic about its performance.

Alvopetro Energy Ltd.’s vision is to become a leading independent upstream and midstream operator in Brazil. The company is focused on unlocking the onshore natural gas potential in the state of Bahia, Brazil. This strategy is built upon the development of Alvopetro’s Caburé and Murucututu natural gas assets, as well as its strategic midstream infrastructure.

To learn more about Alvopetro Energy Ltd., interested parties can access the company’s updated corporate presentation on their website at http://www.alvopetro.com/corporate-presentation.

Alvopetro also maintains an active presence on various social media platforms. Those interested in following the company can find them on Twitter (https://twitter.com/AlvopetroEnergy), Instagram (https://www.instagram.com/alvopetro/), LinkedIn (https://www.linkedin.com/company/alvopetro-energy-ltd), and YouTube (https://www.youtube.com/channel/UCgDn_igrQgdlj-maR6fWB0w).

Alvopetro Energy Ltd. is committed to providing accurate and reliable information to its stakeholders. The company’s sales figures are based on field estimates, and it acknowledges that the TSX Venture Exchange and its Regulation Services Provider do not accept responsibility for the adequacy or accuracy of this news release.

All monetary amounts mentioned in this news release are in United States dollars, unless otherwise stated. Additionally, the term “barrels of oil equivalent” (boe) is used, but it may be misleading if used in isolation. Alvopetro uses a conversion ratio of six thousand cubic feet per barrel (6 Mcf/bbl) of natural gas to barrels of oil equivalence, which is based on an energy equivalency conversion method primarily applicable at the burner tip. It does not represent a value equivalency at the wellhead.

The forward-looking statements in this news release involve significant risks and uncertainties. While Alvopetro believes that the expectations and assumptions on which such forward-looking information is based are reasonable, the company cautions readers not to place undue reliance on these statements. Factors such as natural gas demand, drilling success, regulatory licenses and approvals, commodity markets, and global events can impact actual results. Alvopetro undertakes no obligation to update or revise any forward-looking information, unless required by applicable securities laws.

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