Alvopetro Energy Ltd. press release

Alvopetro Announces April 2022 Sales Volumes and Q1 2022 Results Webcast

2022-05-05

TSXV - TSX Venture Exchange · Natural Gas · Natural Gas Liquids · Oil · Canada · Production & Operations

Canada NewsWire

CALGARY, AB , May 5, 2022 /CNW/ - Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces April sales volumes of 2,494 boepd, including natural gas sales of 14.3 MMcfpd and associated natural gas liquids sales from condensate of 107 bopd, based on field estimates.

Upcoming Q1 2022 results webcast

Alvopetro anticipates announcing Q1 2022 results on May 12, 2022 after markets close and will host a live webcast to discuss the results at 8:00 am Mountain time on May 13, 2022 . Details for joining the event are as follows:

| Date : May 13, 2022 | | Time : 8:00 AM Mountain/10:00 AM Eastern | | Link : https://us06web.zoom.us/j/84318417369 | | Dial-in Numbers : https://us06web.zoom.us/u/kckYUds2mG | | Webinar ID: 843 1841 7369 |

The webcast will include a question-and-answer period. Online participants will be able to ask questions through the Zoom portal. Dial-in participants can email questions directly to socialmedia@alvopetro.com .

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 natural gas field 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 | | MMcf | = | million cubic feet | | MMcfpd | = | million cubic feet per day |

_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. _

SOURCE Alvopetro Energy Ltd.

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