Alvopetro公布2025年底储量,其中1P储量增长79%。

来源:www.gulfoilandgas.com,2026年2月25日,地点:南美洲

Alvopetro Energy Ltd.(简称“Alvopetro”或“公司”)宣布,截至2025年12月31日,公司探明储量(“1P”)为810万桶油当量(MMboe),探明加概算储量(“2P”)为1310万桶油当量(MMboe),分别较2024年12月31日增长79%和43%。1P储量的税前净现值(按10%折现率计算)(“NPV10”)增长38%至2.456亿美元,2P储量的NPV10增长20%至3.936亿美元。此外,公司还宣布,经风险评估的最佳估计或有资源量为380万桶油当量(NPV10为8800万美元),经风险评估的最佳估计远景资源量为1210万桶油当量(NPV10为2.643亿美元)。本文所列储量和资源数据基于GLJ有限公司(“GLJ”)于2026年2月25日编制的独立储量和资源评估报告(“GLJ储量和资源报告”),该报告生效日期为2025年12月31日。GLJ

储量和资源报告包含了Alvopetro在巴西和加拿大持有的剩余可采储量的权益份额。截至2025年12月31日,Alvopetro在巴西拥有Murucututu天然气田100%的作业权益,以及包含Cabur和Cabur Leste天然气田(在本新闻稿中统称为“Cabur”)的单元化区域(“单元”)56.2%的作业权益,此外还拥有Bom Lugar和Mándánda-lua两个油田100%的作业权益。Alvopetro已签署转让协议以出售这些油田,该协议的完成尚需获得相关监管机构的批准,包括巴西国家石油管理局(ANP)的批准。截至2025年12月31日,Alvopetro在加拿大持有萨斯喀彻温省西部曼维尔叠层重油产区75个区块(净面积23,539英亩)50%的作业权益。

除非另有说明,本文中所有提及的“$”均指美元。

总裁兼首席执行官 Corey C. Ruttan 评论道:
“我们 2025 年底的储量反映了 Alvopetro 又一个强劲的年份,其中包括我们在全资拥有的 Murucututu 项目中 Carua 组 183-D4 井的成功钻探结果,以及我们新近新增的加拿大资产。2025 年末,我们第四季度的产量创下 2,867 桶油当量/日的历史新高,并在 2026 年 1 月进一步增至 3,099 桶油当量/日,为 2026 年开了个好头。2025 年,我们显著增强了资产基础,2P 储量增长了 43%,相当于 2025 年产量的 5 倍以上,2P 储量寿命指数为 12.5 年。这进一步强化了我们严谨的资本配置模式,平衡了股东回报和内生增长。”

2025 年 12 月 31 日 GLJ 储量和资源报告:
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2025年产量达到90万桶油当量(MMboe)后,1P储量增长79%至810万桶油当量,1P产量替代率(1)达到485%。这一增长主要归功于穆鲁库图图油田183-D4井的投产,该井于2025年8月投产,为1P储量新增了5个已探明但尚未开发的井位,以及新增的30万桶油当量的加拿大储量。2P
储量增长43%至1310万桶油当量,2P产量替代率达到530%(1)。183-D4井的成功也为2P储量的增长做出了重要贡献,其中包括8个未开发的井位。在加拿大,2P储量为70万桶油当量。
随着储量增加,1P NPV10 增长 38% 至 2.456 亿美元,2P NPV10 增长 20% 至 3.936 亿美元。2P
储量寿命指数(1) 为 12.5 年
。截至 2025 年 12 月 31 日,风险最佳估计或有资源量从 450 万桶油当量减少至 380 万桶油当量,净现值 (NPV10) 为 8800 万美元,较 2024 年 12 月 31 日分别下降 16% 和 20%。这些减少与穆鲁库图图 (Murucututu) 卡鲁阿组 (Carua KYYYY) 的或有资源向储量的转移有关。
风险最佳估算预期资源量从1020万桶油当量增至1210万桶油当量,净现值(NPV10)为2.643亿美元,分别较2024年12月31日增长19%和27%。增长主要归功于穆鲁库图图(Murucututu)项目卡鲁阿(Carua)地层(毗邻已分配储量区)新增的预期资源量。

2026年资本计划

(巴西)

我们的2026年资本计划旨在应对183-D4井带来的超出预期的产量,该井于2025年8月投产,该项目是我们全资拥有的穆鲁库图图项目的一部分。2026年,我们制定了一项多管齐下的设施建设计划,旨在提高穆鲁库图图项目的产能,并能够在多年内充分释放该资产的潜力。

我们计划扩大穆鲁库图图油田生产设施和管道运输能力,以支持穆鲁库图图油田产能从目前的约 150 e3m3/d 提高到 600 e3m3/d。
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与此同时,我们计划提升位于卡布尔(Cabur)的UPGN天然气处理厂的天然气处理能力,以应对穆鲁库图图(Murucututu)气田日益增长的富气产量,目标总处理能力达到600 e3立方米/日。

除了通过卡布尔(Cabur)UPGN气田交付指定规格的天然气外,我们还在评估向其他承购商交付非指定规格天然气的替代方案。我们计划在持续改进设施和增加巴希亚格(Bahiag)天然气销售的同时,平衡这些机遇,以实现我们的长期增长目标。

我们的2026年钻井和完井计划包括在卡布尔(Cabur)气田对一口2025年未完工的井进行侧钻。在穆鲁库图图(Murucututu)气田,我们的2026年计划包括对戈莫组(Gomo Formation)的一口井进行重新完井,以及钻探和完井一口目标为卡鲁阿(Carua)组(Carua Formation)的新井。我们正在审批一个新的钻井平台,该平台能够支持我们计划在183-D4井上方倾斜位置进行的Carua油田开发钻井作业。

我们2026年为这些项目预留的资本预算为2100万美元。一旦我们以设施建设为重点的2026年计划完成,我们将能够加快Murucututu油田多年开发钻井计划的实施,以支持我们的长期增长目标。

在加拿大
,我们于2025年第四季度完成了两口新增盈利井的钻探,从而获得了47个新增区块50%的作业权益。这扩大了我们与合作伙伴的共同利益区域,使我们的土地持有量达到75个总区块(23,539净英亩),所有区块均位于Mannville叠层稠油油藏,并采用裸眼多分支钻井技术。我们相信,扩大的土地储备能够支持钻探100多口一级油井。 2026年1月,我们完成了两口新井的钻探,目前共有8口(净4口)生产井。Alvopetro在这两口毛井(净1口)中的份额在2026年的预算为200万加元。我们将与合作伙伴协调推进更广泛的开发项目的钻探进度,预计钻探进度将主要取决于预期的油价。GLJ

储量和资源报告
GLJ储量和资源报告是根据《加拿大油气评估手册》(“COGE手册”或“COGEH”)中的标准编制的,这些标准与加拿大国家标准51-101(“NI 51-101”)的标准一致。GLJ是符合NI 51-101定义的合格储量评估机构。GLJ储量和资源报告评估了Alvopetro在巴西和加拿大的所有储量。在巴西,这包括截至2025年12月31日我们在以下项目中的权益份额:Cabur天然气田(本文中称为Cabur天然气田)、Murucututu天然气田以及Bom Lugar和Maklua油田。Alvopetro已签订转让协议,拟出售其在这些油田的权益,但须获得监管部门的批准。下文将这些资产称为“待售油​​田”。在加拿大,GLJ储量和资源报告涵盖了我们在萨斯喀彻温省曼维尔叠层(Mannville Stack)重油油藏中50%的权益。该报告还包括对我们穆鲁库图图(Murucututu)天然气田天然气资源的评估。除穆鲁库图图气田的已探明储量外,我们还在穆鲁库图图现有储量附近区域(已探明)划定了潜在资源。通过三维地震勘探在潜在资源区域以西和以北的区域划定了远景资源。根据加拿大国家能源法规NI 51-101的要求,公司将在2025财年的年度信息表中提供额外的储量和资源信息,该信息表将于2026年4月30日之前在SEDAR+(www.sedarplus.ca)上提交。

未来开发成本 (1)(2)(3)(7)(8)
下表列出了GLJ储量和资源报告中,按油田和国家/地区划分的,在估算归属于已探明储量、已探明加概算储量以及已探明加概算加可能储量(使用预测价格和成本)的未来净收入时扣除的总开发成本。总开发成本包括钻井和完井以及设施的资本成本,但不包括弃井和复垦成本,这些成本在计算未来净收入时单独扣除。Cabur

油田的未来开发成本包括Alvopetro公司在2025年起对一口未完工井进行侧钻作业的权益份额(56.2%)。
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穆鲁库图图油田已探明储量类别的未来开发成本包括戈莫组一口井的完井改造,以及钻探和完井六口针对卡鲁阿组的新井和一口针对戈莫组的井。已探明储量类别还包括升级穆鲁库图图油田生产设施和管道产能的相关成本,以使油田总产能从150 e3立方米/日提高到600 e3立方米/日。概算储量类别包括两口额外的开发井,一口针对戈莫组,另一口针对卡鲁阿组。

博姆卢加尔油田和马达卢阿油田(目前待售)已探明储量类别的未来开发成本包括对博姆卢加尔油田的BL-06井和马达卢阿油田现有井进行增产改造的成本。概算类成本还包括一口开发井和Bom Lugar油田设施升级的成本。

加拿大已探明类未来开发成本包括Alvopetro公司承担的四口额外钻井(净成本2.0)的成本,其中一口井(净成本0.5)已于今年1月完井。概算类成本包括另外四口井(净成本2.0)。GLJ

关于Murucututu油田或有资源的储量和资源报告假设从2029年开始投入资金用于钻井和完井,项目总成本为4020万美元,并于2029年实现首次商业生产。本文提供的信息基于公司净项目开发成本。估算中采用的采油技术是基于业内反复使用的成熟技术。


无法保证该项目能够按照本文所述的时间表进行开发。该项目基于前期开发研究。项目的开发取决于若干不确定因素,详情请见本新闻稿。与估算相关的显著积极因素包括:附近现有油气生产、靠近基础设施、现有的长期天然气销售协议以及公司对该项目的承诺。与估算相关的显著消极因素包括:油藏性能和项目的经济可行性(对低商品价格敏感)、以可接受的成本开发资源所需的资金获取和金额,以及计划活动(包括增产和新建基础设施)的监管审批。待

开发项目概要 风险公司总或有资源量(1)(2)(5)(6)

GLJ储量和资源报告将开发概率估算为与项目开发相关的两个主要不确定因素的乘积,这两个因素是:1) 公司批准的可能性,GLJ估计为95%;以及 2) 开发计划最终确定的概率,GLJ 估计为 95%。这两个或有因素的乘积为 90%。由于不存在与发现相关的风险,因此或有资源的商业化概率为 90%,该风险因素已应用于下文报告的开发风险公司总或有资源和净现值数据。GLJ

针对 Murucututu 潜在资源的储量和资源报告假设从 2029 年开始投入资金用于钻井和完井以及管道扩建,项目总成本在低情景下为 1.002 亿美元,在最佳情景下为 1.27 亿美元,在高情景下为 1.36 亿美元,并于 2029 年实现首次商业生产。本文提供的信息基于公司项目开发成本。用于估算的回收技术基于业内反复使用的成熟技术。

无法保证该项目能够按照本文所述的时间表进行开发。项目开发取决于多项不确定因素,详情请见本新闻稿。该项目基于概念性研究。影响估算的重要积极因素包括:附近已有天然气生产、靠近基础设施、现有的长期天然气销售协议以及公司对该项目的承诺。影响估算的重要消极因素包括:油藏性能和项目的经济可行性(对低商品价格的敏感性)、以可接受的成本开发资源所需的资金获取和规模,以及包括增产措施和新建基础设施在内的计划活动的监管审批。


公司总潜在资源量(1)(2)(4)(6)开发风险概要

GLJ储量和资源报告将商业化概率估计为发现概率与开发概率的乘积。潜在资源的发现概率评估为90%,而开发概率与上述或有资源的开发概率相同,均为90%。由此得出的商业化概率为81%,该概率已应用于公司总未风险潜在资源量以及下文报告的净现值数据。

即将发布的2025年业绩及网络直播:
Alvopetro预计将于2026年3月17日股市收盘后公布其2025年第四季度及全年业绩,并将于2026年3月18日美国山区时间上午8:00举行网络直播,讨论业绩情况。参与活动的详细信息如下:

日期:2026年3月18日;
时间:美国山区时间上午8:00/美国东部时间上午10:00;
链接:https://us06web.zoom.us/j/82316007995
;拨入号码:https://us06web.zoom.us/u/kdThlHQznI;网络会议
ID:823 1600 7995。

本次网络直播将包含问答环节。在线参与者可通过Zoom平台提问。拨入参与者可以直接将问题发送至 socialmedia@alvopetro.com。

公司介绍
Alvopetro 更新后的公司介绍可在我们的网站上查看:
&&&&&http://www.alvopetro.com/corporate-presentation。

巴西油藏工程与采油方法新闻 >>



美国 >> 2026年3月5日 - 截至2025年底,已探明储量为1.21亿桶油当量,按美国证券交易委员会定价计算,PV-10为12.2亿美元,
退出产量约为28,000吨……

加拿大 >> 2026年3月4日 - Pine Cliff Energy Ltd.(简称“Pine Cliff”或“公司”)公布其2025年度业绩、披露文件提交情况、年末储量及分红情况……

挪威 >> 2026年3月3日 - 根据挪威近海管理局开展的一项调查,企业间的合作、成本降低和新技术应用……
加拿大 >> 2026年2月26日 - Lycos Energy Inc.(简称“Lycos”或“公司”)欣然公布截至2025年12月31日的独立储量评估结果,敬请查阅……




原文链接/GulfOilandGas

Alvopetro Announces 2025 Year End Reserves Including a 79% Increase in 1P Reserves

Source: www.gulfoilandgas.com 2/25/2026, Location: South America

Alvopetro Energy Ltd. ("Alvopetro" or the "Company") announces our reserves as at December 31, 2025 with total proved ("1P") reserves of 8.1 MMboe and total proved plus probable ("2P") reserves of 13.1 MMboe, increases of 79% and 43%, respectively, from December 31, 2024. The before tax net present value discounted at 10% ("NPV10") of our 1P reserves increased 38% to $245.6 million and the NPV10 of our 2P reserves increased 20% to $393.6 million. We also announce risked best estimate contingent resources of 3.8 MMboe (NPV10 $88.0 million) and risked best estimate prospective resources of 12.1 MMboe (NPV10 $264.3 million). The reserves and resources data set forth herein is based on an independent reserves and resources assessment and evaluation prepared by GLJ Ltd. ("GLJ") dated February 25, 2026 with an effective date of December 31, 2025 (the "GLJ Reserves and Resources Report").

The GLJ Reserves and Resources Report incorporates Alvopetro's working interest share of remaining recoverable reserves held by Alvopetro in both Brazil and Canada. In Brazil, as of December 31, 2025, Alvopetro held a 100% working interest in the Murucututu natural gas field, a 56.2% working interest in the unitized area (the "Unit") which includes our Cabur锟� and Cabur锟� Leste natural gas fields (collectively referred to as "Cabur锟�" in this news release) as well as a 100% working interest in two oil fields (Bom Lugar and M锟絜-da-lua). Alvopetro has entered into an assignment agreement to dispose of these oil fields, the closing of which is subject to standard regulatory approvals, including approval of the ANP. In Canada, as of December 31, 2025, Alvopetro held a 50% working interest in 75 sections of land (23,539 net acres) focused on the Mannville Stack heavy oil play fairway in Western Saskatchewan.

All references herein to $ refer to United States dollars, unless otherwise stated.

President & CEO, Corey C. Ruttan commented:
"Our 2025 year end reserves reflect another strong year for Alvopetro incorporating the results from our successful 183-D4 well in the Carua锟絬 Formation on our 100% interest Murucututu project, and our newly added Canadian assets. Exiting 2025, we posted record Q4 production of 2,867 boepd, increasing further to 3,099 boepd in January, to start off 2026. We significantly strengthened our asset base in 2025, increasing 2P reserves by 43%, replacing 2025 production more than 5 times, and with a 2P reserve life index of 12.5 years. This further strengthens our disciplined capital allocation model, balancing returns to stakeholders and organic growth."

December 31, 2025 GLJ Reserves and Resource Report:
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After 2025 production of 0.9 MMboe, 1P reserves increased 79% to 8.1 MMboe, representing a 1P production replacement ratio(1) of 485%. The increase was mainly due to results from our 183-D4 well on our Murucututu field which commenced production in August 2025 and added an additional five proved undeveloped locations to our 1P reserves as well as newly added Canadian reserves of 0.3 MMboe.
2P reserve volumes increased 43% to 13.1 MMboe, representing a 2P production replacement ratio of 530%(1). Success on our 183-D4 well also contributed to the bulk of the increase to 2P reserves which includes eight undeveloped locations. In Canada, 0.7 MMboe of 2P reserves were assigned.
With increased reserve volumes, 1P NPV10 increased 38% to $245.6 million and 2P NPV10 increased 20% to $393.6 million.
2P reserves life index(1) of 12.5 years
Risked best estimate contingent resources decreased by 0.7 MMboe from 4.5 MMboe to 3.8 MMboe at December 31, 2025 with a NPV10 of $88.0 million, decreases from December 31, 2024 of 16% and 20% respectively. The decreases were associated with the migration of contingent resources to Reserves for the Carua锟絬 Formation at Murucututu.
Risked best estimate prospective resources increased from 10.2 MMboe to 12.1 MMboe with a NPV10 of $264.3 million, increases of 19% and 27% respectively from December 31, 2024. The increases were mainly due to additional prospective resource in the Carua锟絬 Formation at Murucututu adjacent to the assigned reserves area.

2026 Capital Plan

Brazil

Our 2026 capital plan is designed to address the better than anticipated results from our 183-D4 well brought on production from our 100% interest Murucututu project in August 2025. In 2026, we have a multi-pronged facilities focused plan designed to increase our ability to deliver Murucututu production, and to be in a position to fully unlock the potential of this asset on a multi-year basis.

We plan to expand our Murucututu field production facility and pipeline offtake capacity to support an increase in our Murucututu field capacity from our current level of approximately 150 e3m3/d up to 600 e3m3/d.
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In parallel, we plan to enhance our gas processing capability at our UPGN Cabur锟� to accommodate increasing proportions of richer gas production from our Murucututu field, also targeting a total capacity of up to 600 e3m3/d.

In addition to these sales specified natural gas deliveries through the UPGN Cabur锟� we are evaluating alternatives to deliver non-specified natural gas to additional offtakers. We plan to balance these opportunities with continued facilities enhancements and increasing Bahiag锟絪 sales to accommodate our longer-term growth objectives.

Our 2026 drilling and completions plan includes the sidetrack of one unfinished well from 2025 at Cabur锟�. At Murucututu, our 2026 plan includes a recompletion of one well in the Gomo Formation and the drilling and completion of one new well targeting the Carua锟絬 Formation. We are also permitting a new drilling pad that can support the drilling of our planned Carua锟絬 development drilling plan updip of our highly successful 183-D4 well.

Our 2026 capital budget for these projects is $21 million. Once our facilities focused 2026 plan is completed, we will be positioned to accelerate our Murucututu multi-year development drilling plan in support of our longer-term growth objectives.

Canada
In the fourth quarter of 2025, we completed drilling our two additional earning wells to earn a 50% working interest in 47 additional sections of land. This expands our area of mutual interest with our partner, bringing our land position up to 75 gross sections (23,539 net acres), all targeting the Mannville stack heavy oil play fairway and the application of open hole multilateral drilling technology. We believe that this expanded land base can support the drilling of over 100 Tier 1 wells. In January 2026, we completed drilling two additional wells and now have a total of 8 (4.0 net) wells on production. Alvopetro's share of these two gross (1.0 net) wells was budgeted at C$2.0 million in 2026. The pace of drilling of our broader development inventory will be executed in coordination with our partner and is expected to be largely dictated by anticipated oil prices.

GLJ RESERVES AND RESOURCES REPORT
The GLJ Reserves and Resources Report has been prepared in accordance with the standards contained in the Canadian Oil and Gas Evaluation Handbook (the "COGE Handbook" or "COGEH") that are consistent with the standards of National Instrument 51-101 ("NI 51-101"). GLJ is a qualified reserves evaluator as defined in NI 51-101. The GLJ Reserves and Resources Report was an evaluation of all reserves of Alvopetro in Brazil and Canada. In Brazil, this includes our working interest share as of December 31, 2025 of the Unit (referred to herein as the Cabur锟� natural gas field), our Murucututu natural gas field, as well as our Bom Lugar and M锟絜-da-lua oil fields. Alvopetro has entered into an assignment agreement to dispose of its interest in these oil fields, subject to regulatory approvals, and these properties are referenced below as "Oil Fields Held for Sale". In Canada, the GLJ Reserves and Resources Report includes our 50% working interest in reserves focused on the Mannville Stack heavy oil play fairway in Saskatchewan. The GLJ Reserves and Resources Report also includes an evaluation of the gas resources of our Murucututu natural gas field. In addition to the reserves assigned to our Murucututu field, contingent resource was assigned to the area in proximity to our existing Murucututu reserves, deemed to be discovered. The area mapped by 3D seismic west and north of the area defined as contingent was assigned prospective resource. Additional reserves and resources information as required under NI 51-101 will be included in the Company's Annual Information Form for the 2025 fiscal year which will be filed on SEDAR+ (&&&&&www.sedarplus.ca) by April 30, 2026.

Future Development Costs (1)(2)(3)(7)(8)
The table below sets out the total development costs deducted in the estimation of future net revenue attributable to proved reserves, proved plus probable reserves and proved plus probable plus possible reserves (using forecast prices and costs), by field and by country, in the GLJ Reserves and Resources Report. Total development costs include capital costs for drilling and completing wells and for facilities but excludes abandonment and reclamation costs which are deducted separately in the computation of future net revenue.

The future development costs for the Cabur锟� field include Alvopetro's working interest share (56.2%) for side-tracking one unfinished well from 2025.
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The future development costs for the Murucututu field in the proved category include the recompletion of one well in the Gomo Formation and the drilling and completion of six new wells targeting the Carua锟絬 Formation and one well targeting the Gomo Formation. Also included in the proved category are costs associated with upgrading the Murucututu field production facility and pipeline capacity to increase the overall field capacity from 150 e3m3/d up to 600 e3m3/d. The probable category includes two additional development wells, one targeting the Gomo Formation and one targeting the Carua锟絬 Formation.

The future development costs for the Bom Lugar and M锟絜-da-lua fields (currently held for sale) in the proved category include costs to stimulate the BL-06 well on the Bom Lugar field and the existing well at the M锟絜-da-lua field . Costs in the probable category also include one development well and costs for a facilities upgrade at the Bom Lugar field.

The future development costs in Canada in the proved category include Alvopetro's share of costs to drill four additional wells (2.0 net), one (0.5 net) of which was completed in January of this year. The probable category includes an additional four wells (2.0 net).

The GLJ Reserves and Resources Report for Murucututu contingent resources assumes capital deployment starting in 2029 for the drilling and completion of wells with total project costs of $40.2 million and first commercial production in 2029. The information presented herein is based on company net project development costs. The recovery technology assumed for purposes of the estimate is based on established technologies utilized repeatedly in the industry.


There can be no certainty that the project will be developed on the timelines discussed herein. The project is based on a pre-development study. Development of the project is dependent on several contingencies as further described in this news release. Significant positive factors relevant to the estimate include existing production in close proximity, proximity to infrastructure, existing long-term gas sales agreement and corporate commitment to the project. Significant negative factors relevant to the estimate include reservoir performance and the economic viability of the project (with sensitivity to low commodity prices), access to and amount of capital required to develop resources at an acceptable cost, and regulatory approvals for planned activities including stimulations and new infrastructure developments.

Summary of Development Pending Risked Company Gross Contingent Resources(1)(2)(5)(6)

The GLJ Reserves and Resources Report estimates the Chance of Development as the product of two main contingencies associated with the project development, which are: 1) the probability of corporate sanctioning, which GLJ estimates at 95%; and 2) the probability of finalization of a development plan, which GLJ estimates at 95%. The product of these two contingencies is 90%. As there is no risk related to discovery, the Chance of Commerciality for the contingent resource is therefore 90% which is the risk factor that has been applied to the Development Risked company gross contingent resources and the net present value figures reported below.

The GLJ Reserves and Resources Report for Murucututu prospective resources assumes capital deployment starting in 2029 for the drilling and completion of wells and pipeline expansion costs, with total project costs of $100.2 million in Low case, $127.0 million in the Best case and $136.0 million in the High case and first commercial production in 2029. The information presented herein is based on Company project development costs. The recovery technology assumed for purposes of the estimate is based on established technologies utilized repeatedly in the industry.

There can be no certainty that the project will be developed on the timelines discussed herein. Development of the project is dependent on several contingencies as further described in this news release. The project is based on a conceptual study. Significant positive factors relevant to the estimate include existing production in close proximity, proximity to infrastructure, existing long-term gas sales agreement and corporate commitment to the project. Significant negative factors relevant to the estimate include reservoir performance and the economic viability of the project (with sensitivity to low commodity prices), access to and amount of capital required to develop resources at an acceptable cost, and regulatory approvals for planned activities including stimulations and new infrastructure developments.


Summary of Development Risked Company Gross Prospective Resources(1)(2)(4)(6)

The GLJ Reserves and Resources Report estimates the Chance of Commerciality as the product between the Chance of Discovery and the Chance of Development. The Chance of Discovery of the prospective resources has been assessed at 90%, while the Chance of Development has been assessed as the same as for the Contingent Resources described above at 90%. The resulting Chance of Commerciality is 81%, which have been applied to the company gross unrisked prospective resources and the net present value figures reported below.

UPCOMING 2025 RESULTS AND LIVE WEBCAST
Alvopetro anticipates announcing its 2025 fourth quarter and year-end results on March 17, 2026 after markets close and will host a live webcast to discuss the results at 8:00am Mountain time, on March 18, 2026. Details for joining the event are as follows:

DATE: March 18, 2026
TIME: 8:00 AM Mountain/10:00 AM Eastern
LINK: &&&&&https://us06web.zoom.us/j/82316007995
DIAL-IN NUMBERS: &&&&&https://us06web.zoom.us/u/kdThlHQznI
WEBINAR ID: 823 1600 7995

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.

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