CALGARY, AB, Sept. 9, 2024 /CNW/ - Alvopetro Energy Ltd. ALV ALVOF announces August 2024 sales volumes and an operational update.

August Sales Volumes

August sales volumes averaged 1,919 boepd including natural gas sales of 11.0 MMcfpd, associated natural gas liquids sales from condensate of 79 bopd and oil sales of 9 bopd, based on field estimates. August natural gas sales were impacted by temporary demand disruptions experienced by Bahiagas clients. Natural gas deliveries to-date in September have averaged 10.8 MMcfpd.

Natural gas, NGLs and crude oil sales: August 2024 July 2024 Q2 2024 Natural gas (Mcfpd), by field:

Caburé 10,647 13,418 8,822 Murucututu 337 353 422 Total Company natural gas (Mcfpd) 10,984 13,771 9,244 NGLs (bopd) 79 118 76 Oil (bopd) 9 19 12 Total Company (boepd) 1,919 2,432 1,629

Operational Update

We have finished the recompletion of our 183-1 well in an uphole Caruaçu zone and are now re-configuring tubing to bring the well online through our Murucututu production facility this month. In parallel, we finished the recompletion of our 183-A3 well and also expect to have production results from this well this month.

Corporate Presentation

Alvopetro's updated corporate presentation is available on our website at:

http://www.alvopetro.com/corporate-presentation.

Social Media

Follow Alvopetro on our social media channels at the following links:

Twitter - https://twitter.com/AlvopetroEnergy

Instagram - https://www.instagram.com/alvopetro/

LinkedIn - https://www.linkedin.com/company/alvopetro-energy-ltd

YouTube -https://www.youtube.com/channel/UCgDn_igrQgdlj-maR6fWB0w

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 Murucututu natural gas assets 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:

boepd = barrels of oil equivalent ("boe") per day bopd = barrels of oil and/or natural gas liquids (condensate) per day m3 = cubic metre m3/d = cubic metre per day Mcf = thousand cubic feet Mcfpd = thousand cubic feet per day MMcfpd = million cubic feet per day NGLs = natural gas liquids

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.

www.alvopetro.com

TSXV: ALV, OTCQX: ALVOF

SOURCE Alvopetro Energy Ltd.

View original content: http://www.newswire.ca/en/releases/archive/September2024/09/c9433.html

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