CALGARY,
AB, Sept. 16, 2024 /CNW/ - Alvopetro Energy
Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces that our Board of
Directors has declared a quarterly dividend of US$0.09 per common share, payable in cash on
October 15, 2024, to shareholders of
record at the close of business on September
30, 2024. 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 assets 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 expectations and assumptions
concerning expectations regarding the demand for natural gas and
oil, the performance of producing wells and reservoirs, well
development and operating performance, the success of future
drilling, completion, and testing activities, Alvopetro's working
interest in properties and the outcome of future redeterminations,
the outcome of any disputes, equipment availability, the timing of
regulatory licenses and approvals, 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, foreign exchange rates, general
economic and business conditions, weather and access to drilling
locations, the availability and cost of labour and services,
Alvopetro's working interest in properties and the outcome of
future redeterminations, the outcome of any disputes,
environmental regulation, including regulation relating to
hydraulic fracturing and stimulation, the ability to monetize
hydrocarbons discovered, 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.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.
SOURCE Alvopetro Energy Ltd.