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Alvopetro Announces Filing of Material Change Report and Receipt of Dispute Notification from Third-Party Partner
Alvopetro Announces Filing of Material Change Report and Receipt of Dispute Notification from Thi...
About this update from Alvopetro Energy Ltd.
[{"type":"text","content":"\n \n \n \n Alvopetro Announces Filing of Material Change Report and Receipt of Dispute Notification from Third-Party Partner\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.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; TEXT-ALIGN: LEFT; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n April 12, 2024\n \n /CNW/ - Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) (\"Alvopetro\") announces that it has filed a material change report on SEDAR+ which details the anticipated impact to Alvopetro following the decision of the independent expert (the \"Expert\") in the redetermination process which increased Alvopetro's working interest in the unitized area which includes Alvopetro's Caburé natural gas field (the \"Unit\"). In addition, Alvopetro announces that we have received a notice of dispute from our third-party partner (the \"Third-Party Partner\") with respect to the findings of the Expert.\n \n \n \n Material Change Report\n \n \n \n On\n \n April 5, 2024\n \n , Alvopetro announced the results of the Unit redetermination process wherein the Expert found in favour of Alvopetro's proposal, increasing Alvopetro's working interest in the Unit to 56.2%. Alvopetro has filed a material change report on SEDAR+ (\n \n www.sedarplus.ca\n \n ) which summarizes the anticipated impact to Alvopetro of the increased working interest. The material change report highlights the following:\n \n \n \n Alvopetro's working interest in the Unit increases from 46.2% to 56.2%, with such increase expected to become effective on\n \n June 1, 2024\n \n (the \"Effective Date\").\n \n \n As of the Effective Date, Alvopetro's entitlement to natural gas production from the Unit will increase to 13.9 MMcfpd (before additi...