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Companies: Alvopetro Energy Ltd (ALVOF)


Company Profile

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10-15-19 Mackie Research issues Speculative Buy Recommendation
Alvopetro Energy, Ltd., TSXV (ALV.V)  OTC (ALVOF) 
Target Price $1.15

ALVOPETRO ENERGY LTD.Closes US$15Million Credit Facility. First Caburé Natural Gas Production On Track for Q1/20

This morning, ALV announced that ishas closed the previously announced US$15 million (~C$20million) credit facility and provided an operational update.ALV plans to utilized the new credit facility to establish first production from the Caburé field, stimulate and tie-in the 183 (1) well which will test the Gomo resource play and fund other drilling opportunities. Upon completionof the Caburé project,ALV should be generating substantial free cash flow to fund additional growth in 2020. We maintain our SPECULATIVE BUY recommendation and $1.15 target price.

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5-20-18 Trickle Research Issues Allocation Increase
Alvopetro Energy, Ltd., TSXV (ALV.V)  OTC (ALVOF) 
12-24 Month Price Target $1.10

We have not provided many individual updates on Alvopetro since the initiating coverage (although we have provided some research notes to our subscribers). Succinctly, we generaly put out notes around the earnings releases, and since the Company is for all intents and purposes pre-revenue(aside from some limited well participation)the earnings updates are not particularly telling. That said, the Company did recently make an announcement that we think is important:

May 10, 2019CALGARY , May 10, 2019 /CNW/ -Alvopetro Energy Ltd. (TSX-V: ALV; OTCQX: ALVOF) announces that INEMA, the Bahia State environmental regulator, has issued the environmental installation permits required to commence the construction of our strategic midstream infrastructure (100% Alvopetro) underpinning the commercialization of our Caburé natural gas field (49.1% Alvopetro). This midstream infrastructure includes an 11-kilometre transfer pipeline and the construction of a gas treatment facility (the "Facility"). All pipe for the transfer pipeline has already been shipped to the field staging area and our contractor is ready to commence field installation. Our Facility is being constructed by Enerflex Ltd. whereby they will construct, own and operate the Facility. Enerflex is responsible for all operations and maintenance of the Facility and is warrantying the delivery schedule and on-stream performance of the Facility. Initial equipment for the Facility has been assembled, tested, and is ready for shipment to Brazil. Alvopetro expects to start natural gas deliveries from the Caburé field in early 2020. Our natural gas is being sold under our long-term gas sales agreement with Bahiagas, the local distribution company for the state of Bahia. Corey Ruttan , President & CEO, stated "This is a very important development for Alvopetro, and the state of Bahia. These highly strategic midstream assets provide the platform to unlock the natural gas potential in Alvopetro's assets and more broadly in the Recôncavo Basin. This is a transformational time for Alvopetro as we move toward commercial production and cash flow. Our Caburé project, alone, has the ability to generate attractive returns for our shareholders while also providing the free cash flow to reinvest in our portfolio of high impact upstream opportunities."

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11-7-18 Trickle Research Initiates Research of
Alvopetro Energy, Ltd., TSXV (ALV.V)  OTC (ALVOF) 
12-24 Month Price Target $1.10

Alvopetro Energy Ltd. (“Alvo”) is engaged in the exploration for and the acquisition, development and production of, hydrocarbons in the Recôncavo basin onshore northeast Brazil. Alvopetro holds interests in three production areas and 11 exploration blocks comprising 73,473 gross acres (63,460 net acres) onshore Brazil. The first two of these fields

are referred to as Caburé and Gomo and are the subject of much of the near and intermediate term focus respectively. The third is referred to as their “conventional exploration inventory” and is located north of the other two properties. Caburé and Gomo are largely natural gas plays while the third is a blend of convention oil and natural gas prospects.

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Alvopetro Energy Ltd.'s vision 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 and Gomo natural gas projects and the construction of strategic infrastructure assets.  

Contact Information

  • Calgary Office
    Alvopetro Energy Ltd.
    Suite 1700, 525 - 8th Avenue SW
    Calgary, Alberta, Canada
    T2P 1G1 
    Tel: (587) 794-4224

    Salvador Office
    Alvopetro S/A Extração de Petróleo e Gás Natural
    Rua Ewerton Visco, 290, Boulevard Side Empresarial,
    Sala 2004, Caminho das Árvores, Salvador-BA
    CEP 41.820-022
    Tel: + 55 (71) 3432-0917

    Belo Horizonte Office
    Alvopetro S/A Extração de Petróleo e Gás Natural
    Rua Major Lopes, 800 - 3º andar - São Pedro
    Belo Horizonte
    CEP 30.330-050
    Tel: +55 (31) 3227-0300

    DIRECT: 587.794.4213



Financial Reporting/Disclosure


Company Directors

John D. Wright       Chairman

Corey C. Ruttan      President         Firoz Talakashi        
 Geir Ytreland
Kenneth R. Mckinnon
Roderick L. Fraser

Service Providers

Accounting/Auditing Firm
Deloitte LLP


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