Alvopetro Energy Reports Year-End Reserves

Alvopetro Energy (TSE:ALV) has released an update.

Alvopetro Energy Ltd. reported a year-end update on reserves and resources, revealing a slight decrease in proved plus probable reserves to 8.7 MMboe and a net present value of $309.7 million. The company highlighted increases in contingent resources due to new discoveries, while prospective resources saw a decline. Ongoing optimizations and developments, particularly in the Caruaçu Formation, are expected to enhance future production despite uncertainties in working interest outcomes due to a pending expert decision.

For further insights into TSE:ALV stock, check out TipRanks’ Stock Analysis page.