CALGARY, AB, Sept. 15, 2026 /CNW/ -- Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) ("Alvopetro" or the "Company") announces that our Board of Directors has declared a quarterly dividend of US$0.12 per common share, payable in cash on October 15, 2026 to shareholders of record at the close of business on September 30, 2026. This dividend is designated as an "eligible dividend" for Canadian income tax purposes.
Dividend payments to non-residents of Canada will be subject to withholding taxes at the Canadian statutory rate of 25%. Shareholders may be entitled to a reduced withholding tax rate under a tax treaty between their country of residence and Canada. For further information, see Alvopetro's website at https://alvopetro.com/Dividends-Non-resident-Shareholders.
183-H2 Well and Supplementary Information on December 31, 2025 Prospective Resources
On August 31, 2026, Alvopetro announced initial results from the 183-H2 well on our 100% owned Murucututu natural gas field. The 183-H2 well was drilled to a total measured depth ("MD") of 3,176.5 metres and, based on open-hole logs, the well encountered potential net natural gas pay in the Caruaçu Member of the Maracangalha Formation, totaling 44.4 metres total vertical depth ("TVD") of potential natural gas pay, with average porosity of 9.6% and average water saturation of 32.8%, using a 6% porosity cut-off, 50% Vshale cut-off and 50% water saturation cut-off. Completion operations for this well are expected to start in October.
The 183-H2 well was drilled within an area to which GLJ Ltd. ("GLJ"), Alvopetro's independent qualified reserves evaluator, assigned prospective resources in its independent reserves and resources assessment and evaluation dated February 25, 2026 with an effective date of December 31, 2025 (the "GLJ Reserves and Resources Report") and announced by Alvopetro on February 25, 2026. The prospective resources assigned in the GLJ Reserves and Resources Report included prospective resources assigned to both the Caruaçu Member ("Caruaçu") and the Gomo Member ("Gomo"). The tables below provide supplementary information on the prospective resources assigned to each of the Caruaçu and Gomo Members. The information below summarizes only certain information contained in the GLJ Reserves and Resources Report. Full disclosure with respect to the Company's prospective resources as at December 31, 2025 is included in our annual information form which has been filed on SEDAR+ (www.sedarplus.ca).
The prospective resource estimates presented below have an effective date of December 31, 2025 and were prepared before the drilling of the 183-H2 well. The results of the 183-H2 well have not been incorporated into those estimates. The Company has not obtained an updated independent evaluation determining how the well results affect the classification, volume, chance of discovery, chance of development or value of the prospective resources. Accordingly, the well results should not be interpreted as confirming a discovery or as establishing that any of the prospective resources should be reclassified as contingent resources or reserves, or as confirming the recoverability, commerciality or value of the prospective resources disclosed below. The results of the 183-H2 well will be considered as part of the Company's normal year-end independent reserves and resources evaluation process effective December 31, 2026.
Summary of Unrisked Company Gross Prospective Resources as at December 31, 2025(1)(2)(3)(4)
Prospective Resources (Mboe) Low Best High Caruaçu 1,014 2,550 4,653 Gomo 5,975 12,433 20,919 Oil equivalent (Mboe) 6,989 14,983 25,573 See 'Footnotes' section at the end of this news release.
Summary of Before Tax Net Present Value of Future Net Revenue of Unrisked Prospective Resources as at December 31, 2025 - $000s (1)(2)(3)(4)(5)(6)
Discounted at 10% Low Best High Caruaçu 34,380 80,170 132,270 Gomo 117,805 251,731 411,411 Field fixed costs (4,701) (5,661) (6,157) Net present value of future revenue ($000s) 147,484 326,240 537,525 See 'Footnotes' section at the end of this news release.
Summary of Risked Company Gross Prospective Resources as at December 31, 2025(1)(2)(3)(4)
The GLJ Reserves and Resources Report estimated the Chance of Commerciality as the product of the Chance of Discovery and the Chance of Development. The Chance of Discovery of the prospective resources was assessed at 90%, while the Chance of Development was assessed at 90%. The resulting Chance of Commerciality is 81%, which was applied to the company gross unrisked prospective resources and the net present value figures reported below.
Prospective Resources (Mboe) Low Best High Caruaçu 821 2,066 3,769 Gomo 4,840 10,071 16,945 Oil equivalent (Mboe) 5,661 12,136 20,714 See 'Footnotes' section at the end of this news release.
Summary of Before Tax Net Present Value of Future Net Revenue of Risked Prospective Resources as at December 31, 2025 - $000s (1)(2)(3)(4)(5)(6)
Discounted at 10% Low Best High Caruaçu 27,848 64,937 107,139 Gomo 95,422 203,902 333,244 Field fixed costs (3,808) (4,585) (4,987) Net present value of future revenue ($000s) 119,462 264,254 435,395 See 'Footnotes' section at the end of this news release.
FOOTNOTES
(1) References to Company Gross Resources means the total
working interest share of remaining recoverable resources
held by Alvopetro before deductions of royalties payable
to others and without including any royalty interests
held by Alvopetro
(2) The tables above are a summary of the prospective
resources of Alvopetro and the net present value of
future net revenue attributable to such prospective
resources as evaluated in the GLJ Reserves and Resources
Report based on forecast price and cost assumptions.
The tables summarize the data contained in the GLJ
Reserves and Resources Report and as a result may
contain slightly different numbers than such report
due to rounding. Also due to rounding, certain columns
may not add exactly.
(3) Prospective Resources are defined in the COGE Handbook
as those quantities of petroleum estimated, as of
a given date, to be potentially recoverable from undiscovered
accumulations by application of future development
projects. Prospective resources have both an associated
chance of discovery and a chance of development. There
is no certainty that any portion of the prospective
resources will be discovered and even if discovered,
there is no certainty that it will be commercially
viable to produce any portion. Prospective Resources
are further subdivided in accordance with the level
of certainty associated with recoverable estimates
assuming their discovery as described in footnote
4.
(4) Low Estimate: This is considered to be a conservative
estimate of the quantity that will actually be recovered.
It is likely that the actual remaining quantities
recovered will exceed the low estimate. If probabilistic
methods are used, there should be at least a 90 percent
probability (P90) that the quantities actually recovered
will equal or exceed the low estimate.
Best Estimate: This is considered to be the best estimate
of the quantity that will actually be recovered. It
is equally likely that the actual remaining quantities
recovered will be greater or less than the best estimate.
If probabilistic methods are used, there should be
at least a 50 percent probability (P50) that the quantities
actually recovered will equal or exceed the best estimate.
High Estimate: This is considered to be an optimistic
estimate of the quantity that will actually be recovered.
It is unlikely that the actual remaining quantities
recovered will exceed the high estimate. If probabilistic
methods are used, there should be at least a 10 percent
probability (P10) that the quantities actually recovered
will equal or exceed the high estimate.
(5) The net present value of future net revenue attributable
to Alvopetro's resources are stated without provision
for interest costs and general and administrative
costs, but after providing for estimated royalties,
production costs, development costs, other income,
future capital expenditures, well abandonment and
reclamation costs for only those wells assigned reserves
and material dedicated gathering systems and facilities.
The net present values of future net revenue attributable
to Alvopetro's resources estimated by GLJ do not represent
the fair market value of those resources. Other assumptions
and qualifications relating to costs, prices for future
production and other matters are summarized herein.
The recovery and resource estimates of the Company's
resources provided herein are estimates only and there
is no guarantee that the estimated resources will
be recovered. Actual resources may be greater than
or less than the estimates provided herein.
(6) GLJ's January 1, 2026 escalated price forecast is
used in the determination of future gas sales prices
under Alvopetro's long-term gas sales agreement and
for all forecasted oil sales and natural gas liquids
sales. See https://www.gljpc.com/sites/default/files/pricing/Jan26.pdf