CALGARY,
AB, Sept. 15, 2022 /CNW/ - Alvopetro Energy
Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces that our Board of
Directors has declared a quarterly dividend of US$0.08 per common share, payable in cash on
October 14, 2022, to shareholders of
record at the close of business on September
29, 2022. 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.
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.'s vision is to
become a leading independent upstream and midstream operator in
Brazil. Our strategy is to unlock
the on-shore natural gas potential in the state of Bahia
in Brazil, building
off the development of our Caburé natural gas field and our
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 new release are in
United States dollars, unless
otherwise stated and all tabular amounts are in thousands of
United States dollars, except as
otherwise noted.
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" 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 plans for dividends in the
future, the timing and amount of such dividends and the expected
tax treatment thereof. The forward‐looking statements are
based on certain key expectations and assumptions made by
Alvopetro, including but not limited to equipment availability, the
timing of regulatory licenses and approvals, the success of future
drilling, completion, testing, recompletion and development
activities, the outlook for commodity markets and ability to access
capital markets, the impact of the COVID-19 pandemic and other
significant worldwide events, the performance of producing wells
and reservoirs, well development and operating performance, foreign
exchange rates, general economic and business conditions, weather
and access to drilling locations, the availability and cost of
labour and services, environmental regulation, including regulation
relating to hydraulic fracturing and stimulation, the ability to
monetize hydrocarbons discovered, expectations regarding
Alvopetro's working interest in properties and the outcome of any
redeterminations, 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. In addition, the declaration,
timing, amount and payment of future dividends remain at the
discretion of the Board of Directors. 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 annual
information form which may be accessed on Alvopetro's SEDAR profile
at www.sedar.com. 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.