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Alvopetro Announces 183-A3 Well Results
Alvopetro Announces 183-A3 Well Results Canada NewsWire CALGARY, AB , ...
About this update from Alvopetro Energy Ltd.
[{"type":"text","content":"\n \n \n \n Alvopetro Announces 183-A3 Well Results\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnml40{\nMARGIN-LEFT:3.33em !IMPORTANT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Oct. 11, 2023\n \n \n /CNW/ - Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) is pleased to announce that we have now completed drilling the 183-A3 well on our 100% owned Murucututu natural gas field. Based on open-hole logs, the well encountered potential net natural gas pay across two separate formations totaling 127.7 metres, with an average porosity of 10.3%.\n \n \n President and CEO,\n \n Corey C. Ruttan\n \n commented:\n \n \n \n \"The results from our uphole 183-A3 Caruaçu exploration target has significantly exceeded our pre-drill expectations and has the potential to open up a large stacked multi-zone development opportunity in further support of our longer-term natural gas growth objectives.\"\n \n \n \n The 183-A3 well was drilled to a total measured depth (\"MD\") of 3,540 metres. Based on open-hole logs, the well encountered potential net natural gas pay in both the Caruaçu Member of the Maracangalha Formation and the Gomo Member of the Candeias Formation, with an aggregate 127.7 metres total vertical depth (\"TVD\") of potential natural gas pay, using a 6% porosity cut-off, 50% Vshale cut-off and 50% water saturation cutoff.\n \n \n \n Caruaçu Exploration Target\n \n \n \n In the Caruaçu Member, a total of 116.1 metres TVD of potential net natural gas pay was encountered between 2,542 metres and 3,062 metres, at an average 38.5% water saturation and an average porosity of 10.4%. Alvopetro currently has no reserves or resources assigned to this Target.\n \n \n \n Candeias Formation\n \n \n \n In the Gomo Member of the Candeias Formation, a total of 11.6 metres TVD of potential net natural gas pay was encountered between 3,085 metres and 3,270 metres, at an average water saturation of 30.6% and an average porosity of 9.1%. Our Proved reserves for this development well had estimated 12.5 meters of net natural gas pay wi...