Alvopetro Announces Q3 2026 Dividend of US$0.12 Per Share and Supplementary Information on December 31, 2025 Prospective Resources

CALGARY, AB, Sept. 15, 2026 /CNW/ -- Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) ("Alvopetro" or the "Company") announces that our Board of Directors has declared a quarterly dividend of US$0.12 per common share, payable in cash on October 15, 2026 to shareholders of record at the close of business on September 30, 2026. This dividend is designated as an "eligible dividend" for Canadian income tax purposes. 

Dividend payments to non-residents of Canada will be subject to withholding taxes at the Canadian statutory rate of 25%.  Shareholders may be entitled to a reduced withholding tax rate under a tax treaty between their country of residence and Canada.  For further information, see Alvopetro's website at  https://alvopetro.com/Dividends-Non-resident-Shareholders.

183-H2 Well and Supplementary Information on December 31, 2025 Prospective Resources

On August 31, 2026, Alvopetro announced initial results from the 183-H2 well on our 100% owned Murucututu natural gas field. The 183-H2 well was drilled to a total measured depth ("MD") of 3,176.5 metres and, based on open-hole logs, the well encountered potential net natural gas pay in the Caruaçu Member of the Maracangalha Formation, totaling 44.4 metres total vertical depth ("TVD") of potential natural gas pay, with average porosity of 9.6% and average water saturation of 32.8%, using a 6% porosity cut-off, 50% Vshale cut-off and 50% water saturation cut-off. Completion operations for this well are expected to start in October.

The 183-H2 well was drilled within an area to which GLJ Ltd. ("GLJ"), Alvopetro's independent qualified reserves evaluator, assigned prospective resources in its independent reserves and resources assessment and evaluation dated February 25, 2026 with an effective date of December 31, 2025 (the "GLJ Reserves and Resources Report") and announced by Alvopetro on February 25, 2026. The prospective resources assigned in the GLJ Reserves and Resources Report included prospective resources assigned to both the Caruaçu Member ("Caruaçu") and the Gomo Member ("Gomo"). The tables below provide supplementary information on the prospective resources assigned to each of the Caruaçu and Gomo Members. The information below summarizes only certain information contained in the GLJ Reserves and Resources Report. Full disclosure with respect to the Company's prospective resources as at December 31, 2025 is included in our annual information form which has been filed on SEDAR+ (www.sedarplus.ca).  

The prospective resource estimates presented below have an effective date of December 31, 2025 and were prepared before the drilling of the 183-H2 well. The results of the 183-H2 well have not been incorporated into those estimates. The Company has not obtained an updated independent evaluation determining how the well results affect the classification, volume, chance of discovery, chance of development or value of the prospective resources. Accordingly, the well results should not be interpreted as confirming a discovery or as establishing that any of the prospective resources should be reclassified as contingent resources or reserves, or as confirming the recoverability, commerciality or value of the prospective resources disclosed below. The results of the 183-H2 well will be considered as part of the Company's normal year-end independent reserves and resources evaluation process effective December 31, 2026.

Summary of Unrisked Company Gross Prospective Resources as at December 31, 2025^(1)(2)(3)(4)

Summary of Before Tax Net Present Value of Future Net Revenue of Unrisked Prospective Resources as at December 31, 2025 - $000s ^{(1)(2)(3)(4)(5)(6)}

Summary of Risked Company Gross Prospective Resources as at December 31, 2025^(1)(2)(3)(4)

The GLJ Reserves and Resources Report estimated the Chance of Commerciality as the product of the Chance of Discovery and the Chance of Development. The Chance of Discovery of the prospective resources was assessed at 90%, while the Chance of Development was assessed at 90%. The resulting Chance of Commerciality is 81%, which was applied to the company gross unrisked prospective resources and the net present value figures reported below.  

Summary of Before Tax Net Present Value of Future Net Revenue of Risked Prospective Resources as at December 31, 2025 - $000s ^{(1)(2)(3)(4)(5)(6)}

FOOTNOTES

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:

Twitter - https://twitter.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.

All amounts contained in this news release are in United States dollars, unless otherwise stated and all tabular amounts are in thousands of United States dollars, except as otherwise noted.

Abbreviations:

Well Results

Data obtained from the 183-H2 well identified in this press release, including open-hole logging data, potential net pay and porosity should be considered preliminary until testing, detailed analysis and interpretation has been completed. There is no representation by Alvopetro that the data relating to the 183-H2 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.

Oil and Natural Gas Advisories

The GLJ Reserves and Resources Report was prepared in accordance with the standards contained in the Canadian Oil and Gas Evaluation Handbook (the "COGE Handbook" or "COGEH") that are consistent with the standards of National Instrument 51-101 ("NI 51-101"). GLJ is a qualified reserves evaluator as defined in NI 51-101. The GLJ Reserves and Resources Report was an evaluation of all reserves of Alvopetro in Brazil and Canada as of December 31, 2025 and also included an evaluation of the gas resources of our Murucututu natural gas field.  In addition to the reserves assigned to our Murucututu field, contingent resource was assigned to the area in proximity to our existing Murucututu reserves, deemed to be discovered. The area mapped by 3D seismic west and north of the area defined as contingent was assigned prospective resource. This news release contains supplementary information with respect to the prospective resources assigned in the GLJ Reserves and Resources Report.

Prospective Resources

This news release discloses estimates of Alvopetro's prospective resources included in the GLJ Reserves and Resources Report. There is no certainty that any portion of the prospective resources will be discovered and even if discovered, there is no certainty that it will be commercially viable to produce any portion. Estimates of prospective resources involve additional risks over estimates of reserves. The accuracy of any resources estimate is a function of the quality and quantity of available data and of engineering interpretation and judgment. While resources presented herein are considered reasonable, the estimates should be accepted with the understanding that reservoir performance subsequent to the date of the estimate may justify revision, either upward or downward. Full disclosure with respect to the Company's prospective resources as at December 31, 2025 is contained in the Company's annual information form for the year ended December 31, 2025 which has been filed on SEDAR+ (www.sedarplus.ca).

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 equivalent 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.

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 information concerning the Company's dividends, plans for dividends in the future, the timing and amount of such dividends and the expected tax treatment thereof, potential net natural gas pay in the 183-H2 well, and expectations regarding future completion plans for the well. 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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