Contact Us

For further information, interested parties are encouraged to visit the Company’s website at www.canadaonemining.com, or contact the Company by email at info@canadaonemining.com, or by phone at 1.877.844.4661.

On behalf of the Board of Directors of
Canada One Mining Corp.

Peter Berdusco
President
Chief Executive Officer
Interim Chief Financial Officer

LaFleur Minerals Inc. (CSE: LFLR,OTC:LFLRF) (OTCQB: LFLRF) (FSE: 3WK0) is moving closer to near-term gold production with the launch of a confirmation drilling program at its Swanson Gold Deposit in Val-d’Or, Québec. 

The program will support a Preliminary Economic Assessment (PEA) for the restart of gold production at the company’s Beacon Gold Mill, positioning LaFleur as one of the few juniors in Québec advancing both a producing mill and active deposit simultaneously.

The 10-hole twinned-drilling campaign is designed to validate historical results, improve confidence in the geological model, and supply fresh core for ore-sorting and metallurgical test work. The new data will feed directly into an updated Mineral Resource Estimate and the PEA now being completed by Environmental Resources Management (ERM), a global leader in mining sustainability and technical consulting.

Targeting Validation and Growth at Swanson

LaFleur Minerals‘ confirmation drilling program is designed to validate the continuity of high-grade shear zones, connect previously under-sampled areas, and strengthen the company’s confidence in Swanson’s grade and tonnage estimates. Historical drilling at the Swanson Gold Deposit totals more than 36,000 metres across 242 holes, with standout intervals including 69.3 metres at 3.03 g/t Au (SW-03-07) and 51.0 metres at 3.46 g/t Au (BAR31-84).

These zones fall within open-pit limits defined by previous operators including Lac Minerals, Phoenix Matachewan Mines, and Agnico-Eagle Mines, providing a strong foundation for verification and expansion.

‘Advancing the Beacon Gold Mill to restart gold production with gold prices at record levels above $4,000 per ounce offers amazing economic potential,’ said LaFleur Minerals CEO Paul Teniere. ‘We are well underway to completing a comprehensive PEA for the restart of the Beacon Gold Mill and at the suggestion of ERM, we are nearing completion of twinning historical holes that form the basis of the mineral resource at our Swanson Gold Deposit, with the intention to supply mineralized material from Swanson to the Beacon Gold Mill. We aim to have the PEA completed as soon as assay results on the twinned holes are received in the coming weeks.’

Beacon Gold Mill Restart

LaFleur Minerals’ Beacon Gold Mill is advancing through the final stages of recommissioning as the company prepares for near-term gold production in Val-d’Or. The 750-tonne-per-day, fully permitted mill, equipped with crushing, grinding, flotation, leaching, and Merrill-Crowe circuits, underwent a major $20 million modernization in 2022 and is now being optimized for restart.

Current work includes mechanical and electrical upgrades, installation of a new gravity concentrator circuit, and recruitment for key operational staff including mill management, maintenance, and plant operators. Approximately 10,000 to 20,000 tonnes of mineralized stockpiles are on-site and will be used for initial trial runs once the mill is back online.

Located a short distance from the Swanson Gold Deposit, Beacon gives LaFleur Minerals Inc. (CSE:LFLR,OTC:LFLRF) (OTCQB:LFLRF) (FSE: 3WK0) a fully integrated processing advantage within the Abitibi Greenstone Belt, one of the world’s most prolific and infrastructure-rich gold districts. The combination of an owned mill and near-surface feed source positions LaFleur to transition rapidly from development to production.

Strategic Position in Val-d’Or

The Val-d’Or district continues to attract global producers through mergers and acquisitions targeting long-life, low-risk assets. With both Swanson and Beacon situated along the same mineralized corridor, LaFleur Minerals Inc. (CSE:LFLR,OTC:LFLRF) (OTCQB:LFLRF) (FSE: 3WK0) is positioned to benefit from regional consolidation and rising valuations across the camp.

Record gold prices further enhance the economics of LaFleur’s restart plan, offering strong margins, accelerated payback potential, and immediate exposure to cash flow from a permitted, near-production asset.

Qualified Person Statement

All scientific and technical information in this news release has been prepared and approved by Louis Martin, P.Geo. (OGQ), Exploration Manager and Technical Advisor of the Company and considered a Qualified Person for the purposes of NI 43-101. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting its exploration and drilling activities on its exploration projects.

About LaFleur Minerals Inc.

LaFleur Minerals Inc. (CSE:LFLR,OTC:LFLRF) (OTCQB:LFLRF) (FSE: 3WK0) is focused on the restart of gold production at its 100% owned Beacon Gold Mill and development of district-scale gold projects in the Abitibi Gold Belt near Val- d’Or, Québec. Our mission is to advance mining projects with a laser focus on our resource-stage Swanson Gold Project and the Beacon Gold Mill, which have significant potential to deliver long-term value. The Swanson Gold Project spans approximately 18,304 hectares (183 km²) in size and comprises several prospects rich in gold and critical metals previously explored by Monarch Mining, Abcourt Mines, and Globex Mining. LaFleur has recently consolidated a large land package along a major structural break that hosts the Swanson, Bartec, and Jolin gold deposits, as well as several other showings, which comprise the Swanson Gold Project. The Swanson Gold Project is easily accessible by road, providing direct access to several nearby gold mills and further enhancing its development potential. LaFleur Minerals’ fully-refurbished and permitted Beacon Gold Mill, which was upgraded at $20M expense in 2022) is capable of processing over 750 tonnes per day and is being considered for processing mineralized material at Swanson and for custom milling operations for other nearby gold projects.

ON BEHALF OF LaFleur Minerals INC.
Paul Ténière, M.Sc., P.Geo.
Chief Executive Officer
E: info@lafleurminerals.com
LaFleur Minerals Inc.
1500-1055 West Georgia Street
Vancouver, BC V6E 4N7

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding ‘Forward-Looking’ Information

This news release includes certain statements that may be deemed ‘forward-looking statements’. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur. Forward-looking statements in this news release include, without limitation, statements related to the use of proceeds from the Offering. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward- looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.

Disclosure:

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2) The Article was issued on behalf of and sponsored by, LaFleur Minerals Inc.

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6) This document contains forward-looking information and forward-looking statements within the meaning of applicable Canadian and United States securities legislation, (collectively, ‘forward-looking statements’), which reflect management’s expectations regarding LaFleur Minerals Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as ‘predicts’, ‘projects’, ‘targets’, ‘plans’, ‘expects’, ‘does not expect’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘anticipate’ or ‘does not anticipate’, ‘believe’, ‘intend’ and similar expressions or statements that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to LaFleur Minerals Inc.’s industry; (b) market opportunity; (c) LaFleur Minerals Inc.’s business plans and strategies; (d) services that   LaFleur Minerals Inc. intends to offer; (e) L LaFleur Minerals Inc.’s milestone projections and targets; (f) LaFleur Minerals Inc.’s expectations regarding receipt of approval for regulatory applications; (g) LaFleur Minerals Inc.s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h)  LaFleur Minerals Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute  LaFleur Minerals Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c)  LaFleur Minerals Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) the accuracy of budgeted costs and expenditures; (e) LaFleur Minerals Inc.’s ability to attract and retain skilled personnel; (f) political and regulatory stability; (g) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (h) changes in applicable legislation; (i) stability in financial and capital markets; and (j) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of   LaFleur Minerals Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a)  LaFleur Minerals Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact  LaFleur Minerals Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing  LaFleur Minerals Inc.’s business operations (e)  LaFleur Minerals Inc. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law,  LaFleur Minerals Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does   LaFleur Minerals Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither   LaFleur Minerals Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of LaFleur Minerals Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of  LaFleur Minerals Inc. or such entities and are not necessarily indicative of future performance of  LaFleur Minerals Inc. or such entities.

8) The technical information contained in articles and videos produced for this campaign has been reviewed and approved by Louis Martin, P.Geo., at  LaFleur Minerals Inc. as the Qualified Person for the Company as defined in National Instrument 43-101.

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Contact
Chief Executive Officer
Paul Ténière, M.Sc., P.Geo.
info@lafleurminerals.com 

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SOURCE LaFleur Minerals Inc.

For further information or investor relations inquiries, please contact:

Dave Burwell
Vice President, Corporate Development
Email: daveb@alliedcritical.com
Tel: 403-410-7907
Toll Free: 1-888-221-0915

Alvopetro Energy Ltd. (TSXV:ALV,OTC:ALVOF) (OTCQX: ALVOF) announces an operational update and financial results for the three and nine months ended September 30, 2025.  

All references herein to $ refer to United States dollars, unless otherwise stated and all tabular amounts are in thousands of United States dollars, except as otherwise noted.

President & CEO, Corey C. Ruttan commented:

‘Our sales in Brazil in October averaged 2,766 boepd, a 34% increase from September. Our Western Canadian assets added an additional 157 bopd bringing our company average up to 2,923 boepd, a new record for Alvopetro. On our 100% owned Murucututu project in Brazil, our 183-D4 well achieved IP30 rates of 1,071 boepd, significantly above our pre-drill estimates. This result helps strengthen our longer-term growth plans in Brazil. Our success in Brazil is being complimented by our Western Canadian capital program and our recently expanded partnership covering virtually all of the Saskatchewan portion of the Mannville Stack Heavy Oil play fairway. We are in a strong position to continue our disciplined capital allocation model, balancing returns to stakeholders and investing in high rate of return growth opportunities in Brazil and the Western Canadian Sedimentary Basin.’

Operational Update

October Sales Volumes

October sales volumes increased to 2,923 boepd, including 2,766 boepd from Brazil (with natural gas sales of 15.3 MMcfpd, associated natural gas liquids sales from condensate of 206 bopd, and oil sales of 18 bopd) and 157 bopd from oil sales in Canada, based on field estimates, setting a new record for sales volumes at Alvopetro. In Brazil, sales volumes increased 34% over September and 25% over Q3 2025 following Alvopetro and Bahiagas agreeing to a spot contract with discounted pricing for volumes above our firm contract reference volumes of 400 e³m³/d (14.1 MMcfpd).

Quarterly Natural Gas Pricing Update

As previously announced, effective November 1, 2025, our natural gas price under our long-term gas sales agreement was adjusted to BRL1.81/m³ and will apply to firm natural gas sales (up to 400,000 m³/d) from November 1, 2025 to January 31, 2026. Based on our average heat content to date and the October 31, 2025 BRL/USD exchange rate of 5.38, our expected realized price at the new contracted price is $10.15/Mcf, net of applicable sales taxes, a decrease of 8% from the Q3 2025 realized price of $11.04/Mcf due mainly to lower Henry Hub prices in the third quarter. Amounts ultimately received in equivalent USD will be impacted by exchange rates in effect during the period November 1, 2025 to January 31, 2026. Natural gas sales above 400,000 m³/d are currently being sold on a flexible basis under spot contracts at discounts to our firm contracted price.

Development Activities – Brazil

On our 100% owned Murucututu field, the 183-D4 well was completed in seven intervals in the third quarter. With this well on production from the field since late August, third quarter natural gas sales from Murucututu increased to 3.6 MMcfpd (+199% from Q2 2025) and October natural gas sales increased further to 6.1 MMcfpd.

Our joint development on the unitized area (‘the Unit’), which includes our Caburé field, continued in the third quarter and four wells (2.2 net) were drilled. Three of the wells have now been completed and brought on production. We are planning a sidetrack of the fourth well due to challenges encountered while executing the final phase of the well. The timing of drilling the fifth planned development well (0.6 net) is subject to the receipt of all necessary regulatory approvals.

Development Activities – Western Canada

In the third quarter, two additional wells were drilled (1.0 net to Alvopetro) and commenced production in September. As previously announced, we entered into an expanded area of mutual interest (‘Expanded AMI’) with our existing partner. Under the terms of the Expanded AMI, we have agreed to fund 100% of two earning wells to earn a 50% working interest in an additional 46.9 sections of land (15,010 net acres). The two earning wells are expected to commence drilling in late 2025. After drilling, Alvopetro will have a 50% interest in 74.4 sections of land (23,900 net acres).

Financial and Operating Highlights – Third Quarter of 2025

• Average daily sales in Q3 2025 were 2,343 boepd⁽¹⁾ (+11% from Q3 2024 and -4% from Q2 2025). In Brazil, daily sales averaged 2,205 boepd (+5% compared to Q3 2024 and -4% from Q2 2025) and in Canada, oil sales averaged 138 bopd in the quarter (consistent with Q2 2025).
• Our average realized natural gas price was $11.04/Mcf (+1% from Q3 2024 and +4% from Q2 2025). Our overall averaged realized sales price per boe was $65.76/boe (-1% from Q3 2024 and +4% from Q2 2025).
• Our natural gas, oil and condensate revenue increased to $14.2 million (+10% from Q3 2024 and +1% from Q2 2025). Compared to Q3 2024, the increase was driven by higher overall sales volumes, partially offset by lower realized prices. Compared to Q2 2025, the increase was as a result of higher realized prices, partially offset by lower sales volumes.
• Our operating netback⁽²⁾ in the quarter was $55.90 per boe, a decrease of $3.29 per boe compared to Q3 2024 due mainly to addition of lower overall netbacks from Canadian operations. Compared to Q2 2025, our operating netback increased $1.18 per boe with higher realized prices, partially offset by higher royalties, production expenses and transportation expenses.
• We generated funds flows from operations⁽²⁾ of $10.4 million ($0.28 per basic and per diluted share), increases of $0.6 million compared to Q3 2024 and $0.1 million compared to Q2 2025.
• We reported net income of $4.6 million ($0.12 per basic and diluted share), a decrease of $2.5 million compared to Q3 2024 due mainly to impairment losses and higher depletion and depreciation expenses recognized in Q3 2025, partially offset by higher revenues with increased sales volumes, and lower tax expenses.
• Capital expenditures totaled $11.2 million, including completion costs for the 183-D4 well on Alvopetro’s 100% Murucututu field, Alvopetro’s share of unit development costs on the Cabure field and Alvopetro’s share of costs to drill and equip an additional two wells (1.0 net) in Saskatchewan.
• Our working capital⁽²⁾ surplus was $2.2 million as of September 30, 2025, decreasing $4.6 million from June 30, 2025.

The following table provides a summary of Alvopetro’s financial and operating results for the periods noted. The consolidated financial statements with the Management’s Discussion and Analysis (‘MD&A’) are available on our website at www.alvopetro.com and will be available on the SEDAR+ website at www.sedarplus.ca.

Q3 2025 Results Webcast

Alvopetro will host a live webcast to discuss our Q3 2025 financial results at 8:00 am Mountain time on Thursday November 6, 2025. Details for joining the event are as follows:

DATE: November 6, 2025
TIME: 8:00 AM Mountain/10:00 AM Eastern
LINK: https://us06web.zoom.us/j/87150507093
DIAL-IN NUMBERS: https://us06web.zoom.us/u/kdLidYPIoO
WEBINAR ID: 871 5050 7093

The webcast will include a question-and-answer period. Online participants will be able to ask questions through the Zoom portal. Dial-in participants can email questions directly to socialmedia@alvopetro.com.

Corporate Presentation

Alvopetro’s updated corporate presentation is available on our website at:
http://www.alvopetro.com/corporate-presentation. 

Social Media

Follow Alvopetro on our social media channels at the following links:

X – https://x.com/AlvopetroEnergy
Instagram – https://www.instagram.com/alvopetro/
LinkedIn – https://www.linkedin.com/company/alvopetro-energy-ltd

Alvopetro Energy Ltd. is deploying a balanced capital allocation model where we seek to reinvest roughly half our cash flows into organic growth opportunities and return the other half to stakeholders. Alvopetro’s organic growth strategy is to focus on the best combinations of geologic prospectivity and fiscal regime. Alvopetro is balancing capital investment opportunities in Canada and Brazil where we are building off the strength of our Caburé and Murucututu natural gas fields and the related strategic midstream infrastructure.

Neither 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.

Abbreviations:

Non-GAAP and Other Financial Measures

This news release contains references to various non-GAAP financial measures, non-GAAP ratios, capital management measures and supplementary financial measures as such terms are defined in National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure. Such measures are not recognized measures under GAAP and do not have a standardized meaning prescribed by IFRS and might not be comparable to similar financial measures disclosed by other issuers. While these measures may be common in the oil and gas industry, the Company’s use of these terms may not be comparable to similarly defined measures presented by other companies. The non-GAAP and other financial measures referred to in this report should not be considered an alternative to, or more meaningful than measures prescribed by IFRS and they are not meant to enhance the Company’s reported financial performance or position. These are complementary measures that are used by management in assessing the Company’s financial performance, efficiency and liquidity and they may be used by investors or other users of this document for the same purpose. Below is a description of the non-GAAP financial measures, non-GAAP ratios, capital management measures and supplementary financial measures used in this news release. For more information with respect to financial measures which have not been defined by GAAP, including reconciliations to the closest comparable GAAP measure, see the ‘Non-GAAP Measures and Other Financial Measures‘ section of the Company’s MD&A which may be accessed through the SEDAR+ website at www.sedarplus.ca.

Non-GAAP Financial Measures

Operating Netback

Operating netback is calculated as natural gas, oil and condensate revenues less royalties, production expenses, and transportation expenses. This calculation is provided in the ‘Operating Netback‘ section of the Company’s MD&A using our IFRS measures. The Company’s MD&A may be accessed through the SEDAR+ website at www.sedarplus.ca. Operating netback is a common metric used in the oil and gas industry used to demonstrate profitability from operations.

Non-GAAP Financial Ratios

Operating Netback per boe

Operating netback is calculated on a per unit basis, which is per barrel of oil equivalent (‘boe’). It is a common non-GAAP measure used in the oil and gas industry and management believes this measurement assists in evaluating the operating performance of the Company. It is a measure of the economic quality of the Company’s producing assets and is useful for evaluating variable costs as it provides a reliable measure regardless of fluctuations in production. Alvopetro calculated operating netback per boe as operating netback divided by total sales volumes (boe). This calculation is provided in note 3 of the interim condensed consolidated financial statements and in the ‘Operating Netback‘ section of the Company’s MD&A using our IFRS measures. The Company’s MD&A may be accessed through the SEDAR+ website at www.sedarplus.ca. Operating netback is a common metric used in the oil and gas industry used to demonstrate profitability from operations on a per boe basis.

Operating netback margin

Operating netback margin is calculated as operating netback per boe divided by the realized sales price per boe. Operating netback margin is a measure of the profitability per boe relative to natural gas, oil and condensate sales revenues per boe and is calculated as follows:

Funds Flow from Operations Per Share

Funds flow from operations per share is a non-GAAP ratio that includes all cash generated from operating activities and is calculated before changes in non-cash working capital, divided by the weighted average shares outstanding for the respective period. For the periods reported in this news release the cash flows from operating activities per share and funds flow from operations per share is as follows:

Capital Management Measures

Funds Flow from Operations 

Funds flow from operations is a non-GAAP capital management measure that includes all cash generated from operating activities and is calculated before changes in non-cash working capital. The most comparable GAAP measure to funds flow from operations is cash flows from operating activities. Management considers funds flow from operations important as it helps evaluate financial performance and demonstrates the Company’s ability to generate sufficient cash to fund future growth opportunities. Funds flow from operations should not be considered an alternative to, or more meaningful than, cash flows from operating activities however management finds that the impact of working capital items on the cash flows reduces the comparability of the metric from period to period. A reconciliation of funds flow from operations to cash flows from operating activities is as follows:

Net Working Capital

Net working capital is computed as current assets less current liabilities. Net working capital is a measure of liquidity, is used to evaluate financial resources, and is calculated as follows: 

Supplementary Financial Measures

‘Average realized natural gas price – $/Mcf‘ is comprised of natural gas sales as determined in accordance with IFRS, divided by the Company’s natural gas sales volumes.

‘Average realized NGL – condensate price – $/bbl‘ is comprised of condensate sales as determined in accordance with IFRS, divided by the Company’s NGL sales volumes from condensate.

‘Average realized oil price – $/bbl‘ is comprised of oil sales as determined in accordance with IFRS, divided by the Company’s oil sales volumes.

‘Average realized price – $/boe‘ is comprised of natural gas, condensate and oil sales as determined in accordance with IFRS, divided by the Company’s total natural gas, NGL and oil sales volumes (barrels of oil equivalent).

‘Dividends per share‘ is comprised of dividends declared, as determined in accordance with IFRS, divided by the number of shares outstanding at the dividend record date.

‘Royalties per boe‘ is comprised of royalties, as determined in accordance with IFRS, divided by the total natural gas, NGL and oil sales volumes (barrels of oil equivalent).

‘Production expenses per boe‘ is comprised of production expenses, as determined in accordance with IFRS, divided by the total natural gas, NGL and oil sales volumes (barrels of oil equivalent).

‘Transportation expenses per boe‘ is comprised of transportation expenses, as determined in accordance with IFRS, divided by the total natural gas, NGL and oil sales volumes (barrels of oil equivalent).

BOE Disclosure

The term barrels of oil equivalent (‘boe’) may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet per barrel (6 Mcf/bbl) of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions in this news release are derived from converting gas to oil in the ratio mix of six thousand cubic feet of gas to one barrel of oil.

Contracted Natural Gas Volumes

The 2025 contracted daily firm volumes under Alvopetro’s long-term gas sales agreement of 400 e³m³/d (before any provisions for take or pay allowances) represents contracted volumes based on contract referenced natural gas heating value. Alvopetro’s reported natural gas sales volumes are prior to any adjustments for heating value of Alvopetro natural gas. Alvopetro’s natural gas is approximately 7.8% higher than the contract reference heating value. Therefore, to satisfy the contractual firm deliveries Alvopetro would be required to deliver approximately 371e³m³/d (13.1MMcfpd).

Well Results

Data obtained from the 183-D4 well identified in this press release, including initial production rates, should be considered preliminary. There is no representation by Alvopetro that the data relating to the 183-D4 well contained in this press release is necessarily indicative of long-term performance or ultimate recovery. The reader is cautioned not to unduly rely on such data as such data may not be indicative of future performance of the well or of expected production or operational results for Alvopetro in the future.

Forward-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’, ‘plan’, ‘may’, ‘believe’, ‘estimate’, ‘forecast’, ‘anticipate’, ‘should’ and other similar words or expressions are intended to identify forward-looking information. Forward‐looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the expectations discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events. Accordingly, when relying on forward-looking statements to make decisions, Alvopetro cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties. More particularly and without limitation, this news release contains forward-looking statements concerning the expected natural gas price, gas sales and gas deliveries under Alvopetro’s long-term gas sales agreement, future production and sales volumes, plans relating to the Company’s operational activities, proposed exploration and development activities and the timing for such activities, capital spending levels, future capital and operating costs, the timing and taxation of dividends and plans for dividends in the future, anticipated timing for upcoming drilling and testing of other wells, and projected financial results. Forward-looking statements are necessarily based upon assumptions and judgments with respect to the future including, but not limited to the success of future drilling, completion, testing, recompletion and development activities and the timing of such activities, the performance of producing wells and reservoirs, well development and operating performance, expectations and assumptions concerning the timing of regulatory licenses and approvals, equipment availability, environmental regulation, including regulations relating to hydraulic fracturing and stimulation, the ability to monetize hydrocarbons discovered, the outlook for commodity markets and ability to access capital markets, foreign exchange rates, the outcome of any disputes, the outcome of  redeterminations, general economic and business conditions, forecasted demand for oil and natural gas, the impact of global pandemics, weather and access to drilling locations, the availability and cost of labour and services, and the regulatory and legal environment and other risks associated with oil and gas operations. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. Current and forecasted natural gas nominations are subject to change on a daily basis and such changes may be material. In addition, the declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors. Although we believe that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because we can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, reliance on industry partners, availability of equipment and personnel, uncertainty surrounding timing for drilling and completion activities resulting from weather and other factors, changes in applicable regulatory regimes and health, safety and environmental risks), commodity price and foreign exchange rate fluctuations, market uncertainty associated with trade or tariff disputes, and general economic conditions. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Although Alvopetro believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Alvopetro can give no assurance that it will prove to be correct. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on factors that could affect the operations or financial results of Alvopetro are included in our AIF which may be accessed on Alvopetro’s SEDAR+ profile at www.sedarplus.ca. The forward-looking information contained in this news release is made as of the date hereof and Alvopetro undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

www.alvopetro.com 
TSX-V: ALV, OTCQX: ALVOF

SOURCE Alvopetro Energy Ltd.

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