Alvopetro Energy Ltd. completed drilling the 183-A3 well on 100% owned Murucututu natural gas field in October. The well was drilled to a total measured depth of 3,540 metres and, 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 127.7 metres total vertical depth of potential natural gas pay, using a 6% porosity cut-off, 50% Vshale cut-off and 50% water saturation cutoff. Subject to equipment availability and regulatory approvals, expect to commence completion operations on the well later this month.

The well will then be put on production directly into the adjacent field production facility. In October completed the BL-06 well on Bom Lugar field and brought the well on production. October production volumes are expected to be sold in November.

Based on field production data, the well is currently producing at an average of 14 bopd.