CA - Alvopetro reports November 2022 sales volumes and an operational update

• Alvopetro Energy ( OTCQX:ALVOF ) has reported November sales volume of 2,667 boepd, including natural gas sales of 15.2 mmcfpd from condensate of 135 bopd, based on field estimates, a sequential decrease of 2% from the October 2022 average daily volumes.
• The company has now moved the service rig to the 182-C2 well on its 100% owned and operated Block 182 and expect to commence testing operations shortly.
• In October, the company completed drilling the 182-C2 well to a total measured depth ("MD") of 3,185 metres.
• The testing of the 182-C2 well will begin with the Sergi Formation, the deepest of two formations with hydrocarbons shows during drilling.
• As previously announced, the well encountered a 223.7-metre-thick section with 121.3 metres of sand estimated above 6% porosity in the sand-dominated interval between 2,704.1 and 2,927.8 metres total vertical depth in the Sergi Formation.
• Following testing of the Sergi Formation, testing the company will proceed up-hole to the Agua Grande Formation where, based on open-hole wireline logs, the well encountered 10.9 metres of potential net hydrocarbon pay, with an average porosity of 8.9% and average water saturation of 25.1%, using a 6% porosity cut-off, 50% Vshale cut-off and 50% water saturation cut-off.

For further details see: