Alvopetro Announces June Sales Volumes, an Operational Update and Quarterly Natural Gas Pricing Update

About this update from Alvopetro Energy Ltd.

CALGARY, AB, July 6, 2026 /CNW/ - Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces June sales volumes of 2,990 boepd (based on field estimates). In Brazil, June sales averaged 2,834 boepd, including natural gas sales of 16.0 MMcfpd, associated natural gas liquids sales from condensate of 172 bopd and oil sales of 3 bopd. In Canada, oil sales averaged 156 bopd. This brings our Q2 2026 average daily sales volumes to 3,067 boepd, based on field estimates. Operations Update In June, we completed drilling the 183-D1 well on our 100% owned Murucututu natural gas field to a total measured depth ("MD") of 3,263 metres between our previously drilled 183-A3 and 183-D4 wells. 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 47.7 metres total vertical depth ("TVD") of potential natural gas pay. We are mobilizing equipment for the completion and expect to start production from the well in early August. We have advanced the schedule on our drilling program in the Murucututu field. We now plan to drill the 183-H2 and 183-G2 wells in sequence starting this month. We expect to start drilling operations at the 183-H2 well within the next two weeks. This well is targeting the prospective resource portion of the Caruaçu structure. Following this well, we plan to move to the 183-G2 location, the first Caruaçu development well from our newly constructed 183-G well pad. Quarterly Natural Gas Pricing Update Effective August 1, 2026, our natural gas price under our long-term gas sales agreement will be adjusted to BRL2.00/m3 on the first 400e3m3/d (14.1 MMcfpd) reference volumes ("QDC1") with the incremental 100 e3m3/d (3.5 MMcfpd) reference volumes ("QDC2") adjusted to BRL1.91/m3. This represents increases of 5% and 19% respectively for QDC1 and QDC2 relative to the May 1, 2026 price reset.

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