CALGARY, AB — February 25, 2026 — Leads & Copy — Alvopetro Energy Ltd. (TSXV:ALV) (OTCQX: ALVOF) has announced its reserves as of Dec. 31, 2025, showing a significant increase compared to the previous year.
Total proved reserves (1P) reached 8.1 million barrels of oil equivalent (MMboe), a 79% increase from Dec. 31, 2024. Total proved plus probable reserves (2P) also saw a substantial rise, reaching 13.1 MMboe, representing a 43% increase.
The before-tax net present value discounted at 10% (NPV10) of the company’s 1P reserves increased by 38% to $245.6 million. The NPV10 of the 2P reserves rose by 20% to $393.6 million.
Alvopetro also announced risked best estimate contingent resources of 3.8 MMboe with an NPV10 of $88.0 million, and risked best estimate prospective resources of 12.1 MMboe with an NPV10 of $264.3 million.
The reserves and resources data is based on an independent assessment and evaluation prepared by GLJ Ltd. with an effective date of Dec. 31, 2025.
The GLJ Reserves and Resources Report incorporates Alvopetro’s working interest share of remaining recoverable reserves in both Brazil and Canada. In Brazil, as of Dec. 31, 2025, Alvopetro held a 100% working interest in the Murucututu natural gas field, a 56.2% working interest in the unitized area (the Unit), which includes the Caburé and Caburé Leste natural gas fields, and a 100% working interest in two oil fields (Bom Lugar and Mãe-da-lua). The company has entered into an agreement to dispose of these oil fields, subject to regulatory approvals.
In Canada, as of Dec. 31, 2025, Alvopetro held a 50% working interest in 75 sections of land (23,539 net acres) focused on the Mannville Stack heavy oil play fairway in Western Saskatchewan.
President & CEO Corey C. Ruttan stated that the 2025 year-end reserves reflect a strong year for Alvopetro, incorporating results from the 183-D4 well in the Caruaçu Formation on the Murucututu project and the newly added Canadian assets. Ruttan also noted record Q4 production of 2,867 boepd, increasing further to 3,099 boepd in January 2026.
The company significantly strengthened its asset base in 2025, increasing 2P reserves by 43%, replacing 2025 production more than five times, with a 2P reserve life index of 12.5 years. This further strengthens the company’s disciplined capital allocation model, balancing returns to stakeholders and organic growth.
After 2025 production of 0.9 MMboe, 1P reserves increased 79% to 8.1 MMboe, representing a 1P production replacement ratio of 485%. The increase was mainly due to results from the 183-D4 well on the Murucututu field, which commenced production in August 2025, and the newly added Canadian reserves of 0.3 MMboe.
2P reserve volumes increased 43% to 13.1 MMboe, representing a 2P production replacement ratio of 530%. Success on the 183-D4 well also contributed to the bulk of the increase to 2P reserves, which includes eight undeveloped locations. In Canada, 0.7 MMboe of 2P reserves were assigned.
Risked best estimate contingent resources decreased by 0.7 MMboe from 4.5 MMboe to 3.8 MMboe at Dec. 31, 2025, with an NPV10 of $88.0 million. Risked best estimate prospective resources increased from 10.2 MMboe to 12.1 MMboe with an NPV10 of $264.3 million.
Alvopetro plans to announce its 2025 fourth-quarter and year-end results on March 17, 2026, after markets close and will host a live webcast to discuss the results at 8:00 a.m. Mountain time, on March 18, 2026.
Alvopetro’s updated corporate presentation is available on the company’s website.
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Source: Alvopetro Energy Ltd.
