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Alvopetro Announces Block 177 Update
Alvopetro Announces Block 177 Update Canada NewsWire CALGARY, Sept. 7, 2017 ...
About this update from Alvopetro Energy Ltd.
[{"type":"text","content":"\n\n\n\nAlvopetro Announces Block 177 Update\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\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Sept. 7, 2017\n\n\n\nCALGARY, Sept. 7, 2017 /CNW/ - Alvopetro Energy Ltd. (TSX-V:ALV) announces that we have completed drilling our 177(A1) well on Block 177 in the Tucano basin in the State of Bahia, Brazil. The 177(A1) well was drilled to a total measured depth of 1,100 metres and did not discover commercial quantities of hydrocarbons.  We plan to abandon the well.  The 177(A1) well satisfies approximately half of our current phase exploration work commitment for this block, subject to the approval of the National Agency of Petroleum, Natural Gas and Biofuels (\"ANP\").   \n\nAlvopetro Energy Ltd.'s vision is to be the premier independent exploration and production company in Brazil, maximizing shareholder value by applying innovation to underexploited opportunities. Our strategy is to focus on three core opportunities including lower risk development drilling on our mature fields, shallow conventional exploration, and the development of the significant hydrocarbon potential present in our deep Gomo tight-gas resource play. Our efforts in the near-term are concentrated on building a natural gas business by finalizing a mandatory unitization process and securing a gas sales contract for our Caburé natural gas field. \n\nNeither 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.\n\nForward-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\" and other similar words or expressions are intended to identify forward-looking information. More particularly and without limitation, this news release contains forward-looking information concerning operating results, exploration and development prospects of Alvopetro and the ex...