CALGARY,
AB, Sept. 14, 2023 /CNW/ - Alvopetro Energy
Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces that our Board of
Directors has declared a quarterly dividend of US$0.14 per common share, payable in cash on
October 13, 2023, to shareholders of
record at the close of business on September
29, 2023. 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 and Murucututu natural gas fields 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 dividends, 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 global pandemics
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.
SOURCE Alvopetro Energy Ltd.