|Bid||0.6500 x 0|
|Ask||0.7100 x 0|
|Day's Range||0.6600 - 0.7100|
|52 Week Range||0.3000 - 0.9900|
|Beta (3Y Monthly)||2.11|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 14, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.15|
CALGARY, Nov. 12, 2019 /CNW/ - Alvopetro Energy Ltd. (TSX-V: ALV; OTCQX: ALVOF) ("Alvopetro") announces an operational update and our third quarter financial and operating results. The Caburé Unit development plan includes construction of high-pressure facilities, tie-in of all wells, and drilling up to four new wells.
OTCQX: ALVOF) ("Alvopetro") announces first funding on our previously announced Credit Agreement and an operational update. Remaining field development, consisting of inter-well flowlines, the high-pressure facilities expansion, including connection to Alvopetro's Midstream Project, is expected to be completed in January 2020, and potentially an additional well depending on future production results from the offsetting existing well on the west side of the main fault.
Some Alvopetro Energy Ltd. (CVE:ALV) shareholders are probably rather concerned to see the share price fall 38% over...
The Facility is secured by all of Alvopetro's assets, matures three years from the first funding date (the "First Funding Date") and bears cash interest at a rate of 9.5% per annum, payable monthly. Upon repayment of any Facility amounts, Alvopetro will also make a payment of interest in kind at a rate of 3.0% per annum. The Facility contains certain customary financial and non-financial covenants. The First Funding Date, expected to occur in the first week of October, is subject to final registrations of security and normal funding conditions. Alvopetro will have access to up to US$13 million of the Facility and the final US$2 million will become available upon first production from our Caburé natural gas development. Amounts drawn under the Facility are repayable at maturity, however after the first anniversary, the Facility may be repaid in part or full at Alvopetro's option.
OTCQX: ALVOF) announces an operational update on our Caburé Midstream Project consisting of our 11-kilometre transfer pipeline (“Transfer Pipeline”) and our gas treatment facility (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.
OTCQX: ALVOF) announces an operational update on our Caburé Midstream Project consisting of our 11-kilometre transfer pipeline ("Transfer Pipeline") and our gas treatment facility (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. All of the processing skids for the Facility have now arrived in Brazil and the majority have cleared customs and are at the field staging area.
If you want to know who really controls Alvopetro Energy Ltd. (CVE:ALV), then you'll have to look at the makeup of its...
OTCQX: ALVOF) announces that we have completed drilling our 57(A1) well, located on Block 57 in the Recôncavo basin in the State of Bahia, Brazil. Alvopetro Energy Ltd.'s vision is to become a leading independent upstream and midstream operator in Brazil. 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.
OTCQX: ALVOF) announces an operational update and our second quarter financial and operating results. The 57(A1) prospect is a multi-zone, pre-rift, oil exploration prospect targeting Agua Grande, Sergi and Boipeba formations. Alvopetro has also negotiated the ability to increase our working interest in the Block to 100%, subject to the approval of the ANP, at a total estimated remaining cost, including drilling the well, of US$1.4 million.