Alvopetro Announces August Sales Volumes and an Operational Update

CALGARY, AB, Sept. 3, 2026 /CNW/ -- Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces August sales volumes of 3,124 boepd (based on field estimates). In Brazil, August sales averaged 2,989 boepd, including natural gas sales of 16.8 MMcfpd and associated natural gas liquids sales from condensate of 187 bopd. In Canada, oil sales averaged 135 bopd.

Natural gas, NGLs and crude oil sales:	August 2026	July 2026	Q2 2026
Brazil:
Natural gas (Mcfpd), by field:
Caburé	13,210	13,212	12,040
Murucututu	3,603	3,596	4,278
Total natural gas (Mcfpd)	16,813	16,808	16,318
NGLs (bopd)	187	185	167
Oil (bopd)^(1)	-	8	8
Total (boepd) – Brazil	2,989	2,995	2,894
Canada:
Oil (bopd) – Canada	135	142	173
Total Company – boepd^(2)	3,124	3,137	3,067

(1)	Oil sales volumes in Brazil relate to the Bom Lugar and Mãe da lua fields. Alvopetro has entered into an assignment agreement to dispose of the fields, the closing of which is subject to standard regulatory approvals, including approval of the ANP.
(2)	Alvopetro reported volumes are based on sales volumes which, due to the timing of sales deliveries, may differ from production volumes.

Operational Update 

We completed the 183-D1 well in three intervals. The well went through an initial 8-day cleanup period, flowing an average rate of 29.0 e³m³/d (1.0 MMcfpd, 171 boepd) at a 2,282 kPa (331psi) flowing wellhead pressure, recovering 1,674 barrels of completion fluid and 143 barrels of natural gas liquids. After this initial cleanup period the well was aligned to our production system, where we flowed the well to testing equipment for 11 days at a constant 44/64" choke at an average rate of 31.7 e³m³/d (1.12 MMcfpd, 186 boepd) with a 3,585kPa (520psi) flowing wellhead pressure. During this period, we also recovered a total of 247 barrels of completions fluid and 456 barrels of natural gas liquids. Average natural gas liquids (condensate) production during the flow period was 41 boepd. To-date we have only recovered 16% of completions fluid and with 10,258 barrels of 12,214 barrels left to recover. We will continue to observe well behavior as we recover additional completions fluid.

The 183-H2 well was drilled to a total measured depth ("MD") of 3,176.5 metres. 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 cutoff.  We have completed the drilling program and are in the process of moving the drilling rig and then will begin completions operations for the identified zones.  We expect to start completions operations in October.

Our next well in the program is the 183-G2 well, which will be the first Caruaçu development well drilled from our newly constructed 183-G well pad. We expect to initiate drilling later in September.

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:

     X - https://x.com/AlvopetroEnergy
     Instagram - https://www.instagram.com/alvopetro/
     LinkedIn - https://www.linkedin.com/company/alvopetro-energy-ltd

Alvopetro Energy Ltd. is deploying a balanced capital allocation model where we seek to reinvest roughly half our cash flows into organic growth opportunities and return the other half to stakeholders. Alvopetro's organic growth strategy is to focus on the best combinations of geologic prospectivity and fiscal regime. Alvopetro is balancing capital investment opportunities in Canada and Brazil where we are building off the strength of our Caburé and Murucututu natural gas fields and the related 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.

Abbreviations:

boepd	=	barrels of oil equivalent ("boe") per day
bopd	=	barrels of oil and/or natural gas liquids (condensate) per day
BRL	=	Brazilian real
e^3m^3/d	=	thousand cubic metre per day
m^3/d	=	cubic metre per day
Mcf	=	thousand cubic feet
Mcfpd	=	thousand cubic feet per day
MMcf	=	million cubic feet
MMcfpd	=	million cubic feet per day
NGLs	=	natural gas liquids (condensate)

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 (6 Mcf/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.

Well Results

Data obtained from the 183-H2 well identified in this press release, including open-hole logging data, potential net pay and porosity should be considered should be considered preliminary until testing, detailed analysis and interpretation has been completed. Initial production results from the 183-D1 well should be considered preliminary. There is no representation by Alvopetro that the data relating to the 183-H2 well or the 183-D1 well contained in this press release is necessarily indicative of long-term performance or ultimate recovery. The reader is cautioned not to unduly rely on such data as such data may not be indicative of future performance of the well or of expected production or operational results for Alvopetro in the future.

Forward-Looking Statements and Cautionary Language

This news release contains forward-looking information within the meaning of applicable securities laws. The use of any of the words "will", "expect", "intend", "plan", "may", "believe", "estimate", "forecast", "anticipate", "should" and other similar words or expressions are intended to identify forward-looking information. Forward‐looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the expectations discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events. Accordingly, when relying on forward-looking statements to make decisions, Alvopetro cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties. More particularly and without limitation, this news release contains forward-looking statements concerning the expected timing of production and sales commencement from certain wells, plans relating to the Company's operational activities, proposed development activities and the timing for such activities. Forward-looking statements are necessarily based upon assumptions and judgments with respect to the future including, but not limited to the success of future drilling, completion, testing, recompletion and development activities and the timing of such activities, the performance of producing wells and reservoirs, well development and operating performance, expectations and assumptions concerning the timing of regulatory licenses and approvals, equipment availability, environmental regulation, including regulations relating to hydraulic fracturing and stimulation, the ability to monetize hydrocarbons discovered, the outlook for commodity markets and ability to access capital markets, foreign exchange rates, the outcome of any disputes, the outcome of  future redeterminations, general economic and business conditions, forecasted demand for oil and natural gas, the impact of global pandemics, weather and access to drilling locations, the availability and cost of labour and services, and the regulatory and legal environment and other risks associated with oil and gas operations. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. Current and forecasted natural gas nominations are subject to change on a daily basis and such changes may be material. In addition, the declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors. Although we believe that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because we can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, reliance on industry partners, availability of equipment and personnel, uncertainty surrounding timing for drilling and completion activities resulting from weather and other factors, changes in applicable regulatory regimes and health, safety and environmental risks), commodity price and foreign exchange rate fluctuations, market uncertainty associated with trade or tariff disputes, and general economic conditions. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Although Alvopetro believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Alvopetro can give no assurance that it will prove to be correct. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on factors that could affect the operations or financial results of Alvopetro are included in our AIF which may be accessed on Alvopetro's SEDAR+ profile at www.sedarplus.ca. The forward-looking information contained in this news release is made as of the date hereof and Alvopetro undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

www.alvopetro.com
TSX-V: ALV, OTCQX: ALVOF

SOURCE Alvopetro Energy Ltd.

FOR FURTHER INFORMATION, PLEASE CONTACT: Corey C. Ruttan, President, Chief Executive Officer and Director, or Alison Howard, Chief Financial Officer, Phone: [phone], Email: [email protected]