ALVOF - Alvopetro reports May sales volumes drilling program & operational update

Alvopetro (OTCQX:ALVOF) reported May sales volumes of 2,111 boepd, including natural gas sales of 12.1 mmcfpd and associated natural gas liquids sales from condensate of 81 bopd and oil sales of 9 bopd, based on field estimates.  The Caburé gas plant expansion is on schedule to be completed in early July, pursuant to which the available processing capacity is expected to increase by 25% to at least 500,000 cubic metres per day (18 MMcfpd). In April, the company completed drilling 182-C1 well on Block 182, the well discovered 25 metres of potential net natural gas pay in the Agua Grande formation with an average 34% water saturation and average porosity of 8.2%. On Jun.5, the company spud the second 2022 exploration well 183-B1 1 on the fault block immediately east to our 182-C1 discovery; the well will take ~44 days to drill. Hereupon, it also plans to drill the follow-up well on Block 182. Alvopetro expects to have its

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Alvopetro reports May sales volumes, drilling program & operational update