Alvopetro reports sharp rise in proved reserves at year-end

Alvopetro Energy Ltd (TSX-V:ALV, OTC:ALVOF, FRA:A6Y0) said its proved reserves jumped 79% astatine the extremity of 2025, driven by drilling occurrence successful Brazil and the summation of Canadian assets, arsenic the institution besides outlined its 2026 superior plan.

The Calgary-based lipid and state shaper reported full proved (1P) reserves of 8.1 cardinal barrels of lipid equivalent (MMboe) astatine the extremity of December 2025. Proved positive probable (2P) reserves roseate 43% to 13.1 MMboe, according to an autarkic evaluation.

Before-tax nett contiguous worth discounted astatine 10% (NPV10) of 1P reserves accrued 38% to $245.6 million, portion 2P NPV10 roseate 20% to $393.6 million.

Alvopetro said it replaced 2025 accumulation of 0.9 MMboe astir 5 times connected a proved basis, with a 1P accumulation replacement ratio of 485%. On a 2P basis, the replacement ratio reached 530%. The 2P reserves beingness scale stood astatine 12.5 years.

CEO Corey Ruttan said the year-end reserves reflected “another beardown year” for the company, highlighting results from the 183-D4 good successful the Caruaçu Formation astatine its Murucututu earthy state tract successful Brazil and the summation of Canadian dense lipid assets. The 183-D4 well, which began accumulation successful August 2025, added 5 proved undeveloped locations to 1P reserves and contributed to 8 undeveloped locations included successful 2P reserves. The institution besides booked 0.3 MMboe of 1P reserves and 0.7 MMboe of 2P reserves from its Canadian assets successful Saskatchewan’s Mannville Stack dense lipid fairway.

“We importantly strengthened our plus basal successful 2025, expanding 2P reserves by 43%, replacing 2025 accumulation much than 5 times, and with a 2P reserve beingness scale of 12.5 years,” Ruttan told shareholders. “This further strengthens our disciplined superior allocation model, balancing returns to stakeholders and integrated growth.”

Alvopetro holds a 100% moving involvement successful the Murucututu tract and a 56.2% moving involvement successful the Caburé portion successful Brazil, arsenic good arsenic a 50% involvement successful 75 sections of onshore successful occidental Saskatchewan. The institution has agreed to dispose of its 2 Brazilian lipid fields, Bom Lugar and Mãe-da-lua, taxable to regulatory approvals.

The institution reported grounds fourth-quarter accumulation of 2,867 barrels of lipid equivalent per time (boepd), rising to 3,099 boepd successful January.

Alvopetro besides disclosed risked champion estimation contingent resources of 3.8 MMboe with an NPV10 of $88.0 million, down from a twelvemonth earlier owed to the reclassification of volumes into reserves astatine Murucututu. Risked champion estimation prospective resources accrued 19% to 12.1 MMboe, with an NPV10 of $264.3 million, reflecting further imaginable successful the Caruaçu Formation adjacent to the existing reserves area.