Goldgroup Mining Inc is a Canadian-based gold production, development, and exploration company with an upside in a portfolio of projects in Mexico, including an interest in DynaResource de Mexico, S.A. de C.V., which owns 100% of the high-grade gold exploration project, San Jose de Gracia, located in the State of Sinaloa. In addition, the company operates its 100%-owned Cerro Prieto heap-leach gold mine, in the State of Sonora, Mexico.
Highlights
– Sodium-Nickel-Chloride (SNC) batteries have operated for over two decades in South Africa’s telecom and UPS sectors
– Field data shows an exceptionally low failure rate of just 0.6-1.5% across deployed AMPower or equivalent SNC batteries
– Lithium batteries typically show 3-5% failure rates; 8-12% lead-acid and NiCd often exceed 2-4%.
– Service life routinely exceeds 15-20 years, with minimal capacity fade and little maintenance required
– Performance benchmarked against lithium-ion, lead-acid, and nickel-cadmium batteries, demonstrating clear lifetime and safety advantages.
– SNC battery continues to function even if individual cell fails, ensuring uninterrupted system operation
– Major cost advantage: lower replacement frequency, no ventilation or cooling systems, and reduced total cost of ownership
– Validates SNC as the most reliable and maintenance-free UPS solution for explosive ATEX environments, remote operations, and critical industrial assets
For more than 15 years, SNC batteries have powered South Africa’s telecommunication and industrial UPS sectors, enduring extreme climates, unstable grids, and remote conditions. This long history of reliability underscores why SNC technology is now central to Altech Batteries’ expansion strategy for European pipeline and hydrogen control infrastructure.
SOUTH AFRICAN FIELD EXPERIENCE – PROVEN IN HARSH ENVIRONMENTS
SNC batteries have been in service across South Africa since the early 2010s, supporting telecom towers, utility substations, and industrial control systems. They operate reliably in some of the toughest conditions-regularly exposed to temperatures above 50degC and constant power interruptions. Evidence shows that they continue to deliver stable capacity and output. A number of units installed as far back as mid 2000s are still running today, without the need for maintenance or electrolyte replacement. Field data collected by AMPower shows a remarkably low failure rate of just 0.6% to 1.5%, underscoring the chemistry’s proven reliability. With no need for active cooling and minimal servicing requirements, field evidence has demonstrated SNC batteries are well suited to remote or high-temperature environments.
WHY SNC BATTERIES LAST SO LONG
Sodium-Nickel-Chloride batteries derive their longevity from their solid-state ceramic construction and fully sealed architecture. There are no flammable electrolytes, no venting gases, and no corrosion pathways. The internal molten sodium and nickel chloride reaction is contained within a B-alumina ceramic electrolyte, ensuring stable operation across thousands of cycles. Unlike lead-acid and lithium-ion batteries, SNC chemistry suffers no electrode dendrite formation or electrolyte degradation. It is immune to over-discharge damage and can remain idle for months without capacity loss. This combination of chemical stability and mechanical robustness allows SNC batteries to achieve service lives exceeding 15-20 years under both float and cycling conditions.
COMPARISON: SNC VS. LITHIUM, LEAD ACID, AND NICKEL-CADMIUM
Industry experience shows that lithium-ion batteries typically fail at rates of around 3-5%, lead-acid systems at 8-12%, and nickel-cadmium batteries at 2-4%. See Table 1. Failures usually stem from chemical wear, heat stress, or physical damage. In lithium-ion cells, problems such as dendrite growth, electrolyte breakdown, and thermal runaway are common. Lead-acid batteries often suffer from sulfation and corrosion of the plates, while nickel-cadmium types are prone to memory effect and electrolyte leakage.
SNC batteries, by contrast, avoid these issues altogether. Their solid ceramic electrolyte contains no liquid components to corrode or gas to evolve, and they operate in a stable thermal environment.
TECHNOLOGICAL REDUNDANCY – EACH CELL INDEPENDENT
In SNC batteries, each cell is housed inside a beta-alumina solid electrolyte (BASE) tube that allows sodium ions (Na+) to pass through while blocking electrons. If a small crack develops in the ceramic, the battery doesn’t immediately fail. Because the sodium is molten at the operating temperature of about 270degC, it remains fluid enough to seep into the micro-fracture and coat the surfaces. This forms a thin ionic bridge that keeps sodium ions moving across the damaged area, maintaining conductivity. The elevated temperature keeps both the sodium and nickel-chloride materials molten and active, allowing ion transport to continue smoothly. Moreover, SNC battery modules contain many cells connected in series or parallel, so if one cell’s resistance increases slightly, the others compensate-ensuring steady voltage and reliable overall performance.
Altech Managing Director Iggy Tan commented:
‘It’s great to see real service-life data confirming the reliability and consistency of SNC battery technology.
These results back up our long-held understanding of how well the batteries perform under harsh conditions, including high temperatures and frequent power disruptions. The exceptionally low failure rate highlights the strength of the chemistry and design, while the high float life proves their long-term stability.
This outstanding durability sets SNC batteries apart as one of the most dependable and low-maintenance energy storage solutions available today.’
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/EWZYW817
About Altech Batteries Ltd:
Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS (‘Fraunhofer’) to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.
The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech’s land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.
Source:
Altech Batteries Ltd
Contact:
Corporate
Iggy Tan
Managing Director
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com
Martin Stein
Chief Financial Officer
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com
News Provided by ABN Newswire via QuoteMedia
Alvopetro Energy Ltd. (TSXV:ALV,OTC:ALVOF) (OTCQX: ALVOF) announces an operational update and financial results for the three and nine months ended September 30, 2025.
All references herein to $ refer to United States dollars, unless otherwise stated and all tabular amounts are in thousands of United States dollars, except as otherwise noted.
President & CEO, Corey C. Ruttan commented:
‘Our sales in Brazil in October averaged 2,766 boepd, a 34% increase from September. Our Western Canadian assets added an additional 157 bopd bringing our company average up to 2,923 boepd, a new record for Alvopetro. On our 100% owned Murucututu project in Brazil, our 183-D4 well achieved IP30 rates of 1,071 boepd, significantly above our pre-drill estimates. This result helps strengthen our longer-term growth plans in Brazil. Our success in Brazil is being complimented by our Western Canadian capital program and our recently expanded partnership covering virtually all of the Saskatchewan portion of the Mannville Stack Heavy Oil play fairway. We are in a strong position to continue our disciplined capital allocation model, balancing returns to stakeholders and investing in high rate of return growth opportunities in Brazil and the Western Canadian Sedimentary Basin.’
Operational Update
October Sales Volumes
|
Natural gas, NGLs and crude oil sales: |
October 2025 |
September 2025 |
Q3 |
|
Brazil: |
|||
|
Natural gas (Mcfpd), by field: |
|||
|
Caburé |
9,136 |
5,463 |
8,735 |
|
Murucututu |
6,115 |
5,812 |
3,558 |
|
Total natural gas (Mcfpd) |
15,251 |
11,275 |
12,293 |
|
NGLs (bopd) |
206 |
180 |
147 |
|
Oil (bopd)(1) |
18 |
9 |
9 |
|
Total (boepd) – Brazil |
2,766 |
2,069 |
2,205 |
|
Canada: |
|||
|
Oil (bopd) – Canada |
157 |
163 |
138 |
|
Total Company – boepd(2) |
2,923 |
2,232 |
2,343 |
|
(1) |
Oil sale volumes in Brazil relate to the Bom Lugar and Mãe da lua fields. Alvopetro has entered into an assignment agreement to dispose of the fields, the closing of which is subject to standard regulatory approvals, including approval of the ANP. |
|
(2) |
Alvopetro reported volumes are based on sales volumes which, due to the timing of sales deliveries, may differ from production volumes. |
October sales volumes increased to 2,923 boepd, including 2,766 boepd from Brazil (with natural gas sales of 15.3 MMcfpd, associated natural gas liquids sales from condensate of 206 bopd, and oil sales of 18 bopd) and 157 bopd from oil sales in Canada, based on field estimates, setting a new record for sales volumes at Alvopetro. In Brazil, sales volumes increased 34% over September and 25% over Q3 2025 following Alvopetro and Bahiagas agreeing to a spot contract with discounted pricing for volumes above our firm contract reference volumes of 400 e3m3/d (14.1 MMcfpd).
Quarterly Natural Gas Pricing Update
As previously announced, effective November 1, 2025, our natural gas price under our long-term gas sales agreement was adjusted to BRL1.81/m3 and will apply to firm natural gas sales (up to 400,000 m3/d) from November 1, 2025 to January 31, 2026. Based on our average heat content to date and the October 31, 2025 BRL/USD exchange rate of 5.38, our expected realized price at the new contracted price is $10.15/Mcf, net of applicable sales taxes, a decrease of 8% from the Q3 2025 realized price of $11.04/Mcf due mainly to lower Henry Hub prices in the third quarter. Amounts ultimately received in equivalent USD will be impacted by exchange rates in effect during the period November 1, 2025 to January 31, 2026. Natural gas sales above 400,000 m3/d are currently being sold on a flexible basis under spot contracts at discounts to our firm contracted price.
Development Activities – Brazil
On our 100% owned Murucututu field, the 183-D4 well was completed in seven intervals in the third quarter. With this well on production from the field since late August, third quarter natural gas sales from Murucututu increased to 3.6 MMcfpd (+199% from Q2 2025) and October natural gas sales increased further to 6.1 MMcfpd.
Our joint development on the unitized area (‘the Unit’), which includes our Caburé field, continued in the third quarter and four wells (2.2 net) were drilled. Three of the wells have now been completed and brought on production. We are planning a sidetrack of the fourth well due to challenges encountered while executing the final phase of the well. The timing of drilling the fifth planned development well (0.6 net) is subject to the receipt of all necessary regulatory approvals.
Development Activities – Western Canada
In the third quarter, two additional wells were drilled (1.0 net to Alvopetro) and commenced production in September. As previously announced, we entered into an expanded area of mutual interest (‘Expanded AMI’) with our existing partner. Under the terms of the Expanded AMI, we have agreed to fund 100% of two earning wells to earn a 50% working interest in an additional 46.9 sections of land (15,010 net acres). The two earning wells are expected to commence drilling in late 2025. After drilling, Alvopetro will have a 50% interest in 74.4 sections of land (23,900 net acres).
Financial and Operating Highlights – Third Quarter of 2025
|
(1) |
Alvopetro reported volumes are based on sales volumes which, due to the timing of sales deliveries, may differ from production volumes. |
|
(2) |
See ‘Non-GAAP and Other Financial Measures‘ section within this news release. |
The following table provides a summary of Alvopetro’s financial and operating results for the periods noted. The consolidated financial statements with the Management’s Discussion and Analysis (‘MD&A’) are available on our website at www.alvopetro.com and will be available on the SEDAR+ website at www.sedarplus.ca.
|
As at and Three Months Ended September 30, |
As at and Nine Months Ended September 30, |
|||||
|
2025 |
2024 |
Change (%) |
2025 |
2024 |
Change (%) |
|
|
Financial |
||||||
|
($000s, except where noted) |
||||||
|
Natural gas, oil and condensate sales |
14,175 |
12,879 |
10 |
42,198 |
35,303 |
20 |
|
Net income |
4,613 |
7,152 |
(36) |
17,513 |
14,052 |
25 |
|
Per share – basic ($)(1) |
0.12 |
0.19 |
(37) |
0.47 |
0.38 |
24 |
|
Per share – diluted ($)(1) |
0.12 |
0.19 |
(37) |
0.46 |
0.37 |
24 |
|
Cash flows from operating activities |
12,153 |
10,714 |
13 |
31,443 |
27,787 |
13 |
|
Per share – basic ($)(1) |
0.33 |
0.29 |
14 |
0.84 |
0.75 |
12 |
|
Per share – diluted ($)(1) |
0.32 |
0.28 |
14 |
0.83 |
0.74 |
12 |
|
Funds flow from operations(2) |
10,448 |
9,886 |
6 |
30,036 |
26,309 |
14 |
|
Per share – basic ($)(1) |
0.28 |
0.27 |
4 |
0.81 |
0.71 |
14 |
|
Per share – diluted ($)(1) |
0.28 |
0.26 |
8 |
0.79 |
0.70 |
13 |
|
Dividends declared |
3,673 |
3,295 |
11 |
10,976 |
9,887 |
11 |
|
Per share(1) (2) |
0.10 |
0.09 |
11 |
0.30 |
0.27 |
11 |
|
Capital expenditures |
11,249 |
4,747 |
137 |
28,610 |
10,623 |
169 |
|
Cash and cash equivalents |
12,081 |
24,515 |
(51) |
12,081 |
24,515 |
(51) |
|
Net working capital(2) |
2,209 |
15,848 |
(86) |
2,209 |
15,848 |
(86) |
|
Weighted average shares outstanding |
||||||
|
Basic (000s)(1) |
37,263 |
37,300 |
– |
37,273 |
37,286 |
– |
|
Diluted (000s)(1) |
37,851 |
37,662 |
1 |
37,801 |
37,671 |
– |
|
Operations |
||||||
|
Average daily sales volumes(3): |
||||||
|
Brazil: |
||||||
|
Natural gas (Mcfpd), by field: |
||||||
|
Caburé (Mcfpd) |
8,735 |
11,378 |
(23) |
10,741 |
9,817 |
9 |
|
Murucututu (Mcfpd) |
3,558 |
616 |
478 |
2,286 |
490 |
367 |
|
Total natural gas (Mcfpd) |
12,293 |
11,994 |
2 |
13,027 |
10,307 |
26 |
|
NGLs – condensate (bopd) |
147 |
95 |
55 |
137 |
83 |
65 |
|
Oil (bopd) |
9 |
12 |
(25) |
8 |
12 |
(33) |
|
Total (boepd) – Brazil |
2,205 |
2,106 |
5 |
2,315 |
1,813 |
28 |
|
Canada: |
||||||
|
Oil (bopd) – Canada |
138 |
– |
– |
93 |
– |
– |
|
Total Company (boepd) |
2,343 |
2,106 |
11 |
2,408 |
1,813 |
33 |
|
As at and Three Months Ended September 30, |
As at and Three Months Ended September 30, |
|||||
|
2025 |
2024 |
Change (%) |
2025 |
2024 |
Change (%) |
|
|
Average realized prices(2): |
||||||
|
Natural gas ($/Mcf) |
11.04 |
10.92 |
1 |
10.69 |
11.70 |
(9) |
|
NGLs – condensate ($/bbl) |
74.16 |
86.70 |
(14) |
75.83 |
88.77 |
(15) |
|
Oil ($/bbl) |
50.42 |
68.36 |
(26) |
49.36 |
68.48 |
(28) |
|
Total ($/boe) |
65.76 |
66.46 |
(1) |
64.19 |
71.06 |
(10) |
|
Operating netback ($/boe)(2) |
||||||
|
Realized sales price |
65.76 |
66.46 |
(1) |
64.19 |
71.06 |
(10) |
|
Royalties |
(3.54) |
(1.89) |
87 |
(4.71) |
(1.94) |
143 |
|
Production expenses |
(6.10) |
(5.38) |
13 |
(5.58) |
(6.23) |
(10) |
|
Transportation expenses |
(0.22) |
– |
– |
(0.12) |
– |
– |
|
Operating netback |
55.90 |
59.19 |
(6) |
53.78 |
62.89 |
(14) |
|
Operating netback margin(2) |
85 % |
89 % |
(4) |
84 % |
89 % |
(6) |
|
Notes: |
|
|
(1) |
Per share amounts are based on weighted average shares outstanding other than dividends per share, which is based on the number of common shares outstanding at each dividend record date. The weighted average number of diluted common shares outstanding in the computation of funds flow from operations and cash flows from operating activities per share is the same as for net income per share. |
|
(2) |
See ‘Non-GAAP and Other Financial Measures’ section within this news release. |
|
(3) |
Alvopetro reported volumes are based on sales volumes which, due to the timing of sales deliveries, may differ from production volumes. |
Q3 2025 Results Webcast
Alvopetro will host a live webcast to discuss our Q3 2025 financial results at 8:00 am Mountain time on Thursday November 6, 2025. Details for joining the event are as follows:
DATE: November 6, 2025
TIME: 8:00 AM Mountain/10:00 AM Eastern
LINK: https://us06web.zoom.us/j/87150507093
DIAL-IN NUMBERS: https://us06web.zoom.us/u/kdLidYPIoO
WEBINAR ID: 871 5050 7093
The webcast will include a question-and-answer period. Online participants will be able to ask questions through the Zoom portal. Dial-in participants can email questions directly to socialmedia@alvopetro.com.
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:
X – https://x.com/AlvopetroEnergy
Instagram – https://www.instagram.com/alvopetro/
LinkedIn – https://www.linkedin.com/company/alvopetro-energy-ltd
Alvopetro Energy Ltd. is deploying a balanced capital allocation model where we seek to reinvest roughly half our cash flows into organic growth opportunities and return the other half to stakeholders. Alvopetro’s organic growth strategy is to focus on the best combinations of geologic prospectivity and fiscal regime. Alvopetro is balancing capital investment opportunities in Canada and Brazil where we are building off the strength of our Caburé and Murucututu natural gas fields and the related 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.
Abbreviations:
|
$000s |
= |
thousands of U.S. dollars |
|
boepd |
= |
barrels of oil equivalent (‘boe’) per day |
|
bopd |
= |
barrels of oil and/or natural gas liquids (condensate) per day |
|
BRL |
= |
Brazilian Real |
|
e3m3/d |
= |
thousand cubic metre per day |
|
m3 |
= |
cubic metre |
|
m3/d |
= |
cubic metre per day |
|
Mcf |
= |
thousand cubic feet |
|
Mcfpd |
= |
thousand cubic feet per day |
|
MMcf |
= |
million cubic feet |
|
MMcfpd |
= |
million cubic feet per day |
|
NGLs |
= |
natural gas liquids (condensate) |
|
Q1 2025 |
= |
three months ended March 31, 2025 |
|
Q3 2024 |
= |
three months ended September 30, 2024 |
|
Q2 2025 |
= |
three months ended June 30, 2025 |
|
Q3 2025 |
= |
three months ended September 30, 2025 |
|
USD |
= |
United States dollars |
|
GAAP or IFRS |
= |
IFRS Accounting Standards |
Non-GAAP and Other Financial Measures
This news release contains references to various non-GAAP financial measures, non-GAAP ratios, capital management measures and supplementary financial measures as such terms are defined in National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure. Such measures are not recognized measures under GAAP and do not have a standardized meaning prescribed by IFRS and might not be comparable to similar financial measures disclosed by other issuers. While these measures may be common in the oil and gas industry, the Company’s use of these terms may not be comparable to similarly defined measures presented by other companies. The non-GAAP and other financial measures referred to in this report should not be considered an alternative to, or more meaningful than measures prescribed by IFRS and they are not meant to enhance the Company’s reported financial performance or position. These are complementary measures that are used by management in assessing the Company’s financial performance, efficiency and liquidity and they may be used by investors or other users of this document for the same purpose. Below is a description of the non-GAAP financial measures, non-GAAP ratios, capital management measures and supplementary financial measures used in this news release. For more information with respect to financial measures which have not been defined by GAAP, including reconciliations to the closest comparable GAAP measure, see the ‘Non-GAAP Measures and Other Financial Measures‘ section of the Company’s MD&A which may be accessed through the SEDAR+ website at www.sedarplus.ca.
Non-GAAP Financial Measures
Operating Netback
Operating netback is calculated as natural gas, oil and condensate revenues less royalties, production expenses, and transportation expenses. This calculation is provided in the ‘Operating Netback‘ section of the Company’s MD&A using our IFRS measures. The Company’s MD&A may be accessed through the SEDAR+ website at www.sedarplus.ca. Operating netback is a common metric used in the oil and gas industry used to demonstrate profitability from operations.
Non-GAAP Financial Ratios
Operating Netback per boe
Operating netback is calculated on a per unit basis, which is per barrel of oil equivalent (‘boe’). It is a common non-GAAP measure used in the oil and gas industry and management believes this measurement assists in evaluating the operating performance of the Company. It is a measure of the economic quality of the Company’s producing assets and is useful for evaluating variable costs as it provides a reliable measure regardless of fluctuations in production. Alvopetro calculated operating netback per boe as operating netback divided by total sales volumes (boe). This calculation is provided in note 3 of the interim condensed consolidated financial statements and in the ‘Operating Netback‘ section of the Company’s MD&A using our IFRS measures. The Company’s MD&A may be accessed through the SEDAR+ website at www.sedarplus.ca. Operating netback is a common metric used in the oil and gas industry used to demonstrate profitability from operations on a per boe basis.
Operating netback margin
Operating netback margin is calculated as operating netback per boe divided by the realized sales price per boe. Operating netback margin is a measure of the profitability per boe relative to natural gas, oil and condensate sales revenues per boe and is calculated as follows:
|
Three Months Ended September 30, |
Nine Months Ended September 30, |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Operating netback – $ per boe |
55.90 |
59.19 |
53.78 |
62.89 |
|
Average realized price – $ per boe |
65.76 |
66.46 |
64.19 |
71.06 |
|
Operating netback margin |
85 % |
89 % |
84 % |
89 % |
Funds Flow from Operations Per Share
Funds flow from operations per share is a non-GAAP ratio that includes all cash generated from operating activities and is calculated before changes in non-cash working capital, divided by the weighted average shares outstanding for the respective period. For the periods reported in this news release the cash flows from operating activities per share and funds flow from operations per share is as follows:
|
Three Months Ended September 30, |
Nine Months Ended September 30, |
|||
|
$ per share |
2025 |
2024 |
2025 |
2024 |
|
Per basic share: |
||||
|
Cash flows from operating activities |
0.33 |
0.29 |
0.84 |
0.75 |
|
Funds flow from operations |
0.28 |
0.27 |
0.81 |
0.71 |
|
Per diluted share: |
||||
|
Cash flows from operating activities |
0.32 |
0.28 |
0.83 |
0.74 |
|
Funds flow from operations |
0.28 |
0.26 |
0.79 |
0.70 |
Capital Management Measures
Funds Flow from Operations
Funds flow from operations is a non-GAAP capital management measure that includes all cash generated from operating activities and is calculated before changes in non-cash working capital. The most comparable GAAP measure to funds flow from operations is cash flows from operating activities. Management considers funds flow from operations important as it helps evaluate financial performance and demonstrates the Company’s ability to generate sufficient cash to fund future growth opportunities. Funds flow from operations should not be considered an alternative to, or more meaningful than, cash flows from operating activities however management finds that the impact of working capital items on the cash flows reduces the comparability of the metric from period to period. A reconciliation of funds flow from operations to cash flows from operating activities is as follows:
|
Three Months Ended September 30, |
Nine Months Ended September 30, |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Cash flows from operating activities |
12,153 |
10,714 |
31,443 |
27,787 |
|
Changes in non-cash working capital |
(1,705) |
(828) |
(1,407) |
(1,478) |
|
Funds flow from operations |
10,448 |
9,886 |
30,036 |
26,309 |
Net Working Capital
Net working capital is computed as current assets less current liabilities. Net working capital is a measure of liquidity, is used to evaluate financial resources, and is calculated as follows:
|
As at September 30, |
|||
|
2025 |
2024 |
||
|
Total current assets |
18,582 |
30,197 |
|
|
Total current liabilities |
(16,373) |
(14,349) |
|
|
Net working capital |
2,209 |
15,848 |
|
Supplementary Financial Measures
‘Average realized natural gas price – $/Mcf‘ is comprised of natural gas sales as determined in accordance with IFRS, divided by the Company’s natural gas sales volumes.
‘Average realized NGL – condensate price – $/bbl‘ is comprised of condensate sales as determined in accordance with IFRS, divided by the Company’s NGL sales volumes from condensate.
‘Average realized oil price – $/bbl‘ is comprised of oil sales as determined in accordance with IFRS, divided by the Company’s oil sales volumes.
‘Average realized price – $/boe‘ is comprised of natural gas, condensate and oil sales as determined in accordance with IFRS, divided by the Company’s total natural gas, NGL and oil sales volumes (barrels of oil equivalent).
‘Dividends per share‘ is comprised of dividends declared, as determined in accordance with IFRS, divided by the number of shares outstanding at the dividend record date.
‘Royalties per boe‘ is comprised of royalties, as determined in accordance with IFRS, divided by the total natural gas, NGL and oil sales volumes (barrels of oil equivalent).
‘Production expenses per boe‘ is comprised of production expenses, as determined in accordance with IFRS, divided by the total natural gas, NGL and oil sales volumes (barrels of oil equivalent).
‘Transportation expenses per boe‘ is comprised of transportation expenses, as determined in accordance with IFRS, divided by the total natural gas, NGL and oil sales volumes (barrels of oil equivalent).
BOE Disclosure
The term barrels of oil equivalent (‘boe’) may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet per barrel (6 Mcf/bbl) of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions in this news release are derived from converting gas to oil in the ratio mix of six thousand cubic feet of gas to one barrel of oil.
Contracted Natural Gas Volumes
The 2025 contracted daily firm volumes under Alvopetro’s long-term gas sales agreement of 400 e3m3/d (before any provisions for take or pay allowances) represents contracted volumes based on contract referenced natural gas heating value. Alvopetro’s reported natural gas sales volumes are prior to any adjustments for heating value of Alvopetro natural gas. Alvopetro’s natural gas is approximately 7.8% higher than the contract reference heating value. Therefore, to satisfy the contractual firm deliveries Alvopetro would be required to deliver approximately 371e3m3/d (13.1MMcfpd).
Well Results
Data obtained from the 183-D4 well identified in this press release, including initial production rates, should be considered preliminary. There is no representation by Alvopetro that the data relating to the 183-D4 well contained in this press release is necessarily indicative of long-term performance or ultimate recovery. The reader is cautioned not to unduly rely on such data as such data may not be indicative of future performance of the well or of expected production or operational results for Alvopetro in the future.
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’, ‘plan’, ‘may’, ‘believe’, ‘estimate’, ‘forecast’, ‘anticipate’, ‘should’ 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 statements concerning the expected natural gas price, gas sales and gas deliveries under Alvopetro’s long-term gas sales agreement, future production and sales volumes, plans relating to the Company’s operational activities, proposed exploration and development activities and the timing for such activities, capital spending levels, future capital and operating costs, the timing and taxation of dividends and plans for dividends in the future, anticipated timing for upcoming drilling and testing of other wells, and projected financial results. Forward-looking statements are necessarily based upon assumptions and judgments with respect to the future including, but not limited to the success of future drilling, completion, testing, recompletion and development activities and the timing of such activities, the performance of producing wells and reservoirs, well development and operating performance, expectations and assumptions concerning the timing of regulatory licenses and approvals, equipment availability, environmental regulation, including regulations relating to hydraulic fracturing and stimulation, the ability to monetize hydrocarbons discovered, the outlook for commodity markets and ability to access capital markets, foreign exchange rates, the outcome of any disputes, the outcome of redeterminations, general economic and business conditions, forecasted demand for oil and natural gas, the impact of global pandemics, weather and access to drilling locations, the availability and cost of labour and services, and 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. Current and forecasted natural gas nominations are subject to change on a daily basis and such changes may be material. In addition, the declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors. Although we believe that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because we can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, reliance on industry partners, availability of equipment and personnel, uncertainty surrounding timing for drilling and completion activities resulting from weather and other factors, changes in applicable regulatory regimes and health, safety and environmental risks), commodity price and foreign exchange rate fluctuations, market uncertainty associated with trade or tariff disputes, and general economic conditions. 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. 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 AIF 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.
www.alvopetro.com
TSX-V: ALV, OTCQX: ALVOF
SOURCE Alvopetro Energy Ltd.
View original content: http://www.newswire.ca/en/releases/archive/November2025/05/c9260.html
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Brien Lundin, editor of Gold Newsletter and New Orleans Investment Conference host, shares his outlook for gold and silver as prices continue to consolidate.
‘At the end of this cycle, I’ve long predicted that we’re going to get to a US$6,000 to US$8,000 (per ounce) price range, whenever that may happen — I hope it takes years from now,’ he said about gold.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
What if Sen. Bernie Sanders is right and Federal Reserve Chair Jerome Powell is wrong?
What if the AI revolution causes mass layoffs of American workers, as the Vermont senator warned in a recent Fox News op-ed? And what if Powell is wrong that the softening labor market is due primarily to supply issues — lower immigration and a lower labor participation rate — rather than AI-produced ‘efficiencies’?
What will be the response of policymakers? What should it be?
AI will soon become a political battleground. Democratic socialist Sanders, ever the class warrior, has already questioned whether AI will help all Americans or only ‘a handful of billionaires.’ Like the trade deals that sent millions of jobs overseas, Sanders worries that the massive investment flowing into AI could result in up to 100 million Americans losing their jobs over the next decade. He could be right; imagine the repercussions.
Young people are already losing faith in capitalism and cozying up to socialism. Two-thirds of Democrats now view socialism more positively than capitalism. Nothing could undermine our capitalist system faster than widespread job losses stemming from a tech breakthrough cheered by the investor class.
This is the critical issue of our day — one getting scant attention, even from self-described ‘data-driven’ Powell, who is perennially looking backward rather than forward. In his latest press conference, Powell answered one question about employment by saying, ‘The supply of workers has dropped very, very sharply due to mainly immigration, but also lower labor force participation. So, and that means there’s less need for new jobs, because there’s — there isn’t this flow into the pool of labor where people need jobs.’ Excuse me, what?
The economy is growing, yet hiring is declining. Though the government shutdown has blocked the usual monthly labor reports, plenty of data suggests the job market is weakening. Companies are increasingly citing AI investment as a factor in lower headcounts.
Corporate America is spending tens of billions of dollars on AI, promising shareholders great gains in productivity. But where will that productivity come from, other than reducing headcounts? Certainly, people armed with artificial intelligence can deliver information and analyses more rapidly, making themselves and their organizations more productive. But ultimately, it will also make some people redundant and slow new hiring. The impact on America’s labor market will be profound — and is largely being ignored.
Amazon recently announced it was laying off 14,000 employees. A top human resources official at the firm sent a note titled ‘Staying nimble and continuing to strengthen our organizations.’ She wrote that ‘the world is changing quickly. This generation of AI is the most transformative technology we’ve seen since the Internet, and it’s enabling companies to innovate much faster than ever before.’
What kinds of workers are at risk? Factory workers and truck drivers, for sure, who are already being replaced by robots and AI — but also white-collar employees. Fortune notes that the Amazon layoffs ‘show it’s coming for middle management first.’ The world’s largest retailer employs about 1.5 million people; 14,000 is a drop in the bucket. But the trend is worrisome — and for those 14,000 people, devastating.
Amazon is not alone. UPS recently announced it has cut 48,000 jobs this year — 14,000 management positions and 34,000 in operations. UPS started the year with about 500,000 employees. Target also made headlines recently, saying it will cut 8% of its corporate workforce — its first significant layoffs in a decade.
Outplacement firm Challenger, Gray & Christmas cites market and economic conditions as the main reason for most corporate layoffs to date but also points to AI. That makes sense. After all, the economy is growing briskly — second-quarter real GDP growth was 3.8%, and it looks like we’ll see robust expansion for the third quarter as well.
There has never been a faster adoption of new technology. Already, an estimated one-third of Americans use AI; ChatGPT receives 5.4 billion visits per month. Global AI revenues are expected to total $391 billion this year and could reach $3.5 trillion by 2033. These estimates may be optimistic, but top tech firms are investing about $400 billion this year alone to expand capacity, according to The Wall Street Journal. They clearly believe the projections.
Bernie Sanders aside, no one should want to halt the AI revolution. Artificial intelligence promises extraordinary advances in medicine and other sciences — and could radically improve education for America’s children.
It’s also largely American companies that will benefit from the explosion in AI spending, reaping the profits and influence that come with global dominance of a new technology. Rising productivity will spur hiring in certain industries and boost real wages. It will also allow for the retirement of the 20-plus million baby boomers still working.
But there may well be a period of adjustment when layoffs exceed job creation. Unemployment may rise, fueling anger at the innovations producing more out-of-work Americans and resentment toward the companies behind the disruptions.
Lawmakers and financial leaders need to be prepared for this possibility — one that could deepen voters’ growing affection for socialism and rejection of capitalism. That would be a disaster for a country that has outperformed every other nation on Earth, producing unprecedented opportunity and wealth.
Otherwise, it will be Bernie Sanders and his left-wing colleagues dictating the response. Sanders advocates a 32-hour workweek with no loss in pay, giving workers significantly more power and imposing a ‘robot tax’ on big tech companies. Such measures would slow American competitiveness and growth, as they have in Europe.
We cannot allow that to happen.
The Department of Justice on Monday urged a federal court to reject former FBI Director James Comey’s bid to dismiss his case, arguing that his claims of selective prosecution are unfounded.
The DOJ, in its 48-page filing, also denied that President Donald Trump’s September Truth Social post calling on U.S. Attorney General Pam Bondi to prosecute prominent political adversaries, including Comey, Sen. Adam Schiff, D-Calif., and New York Attorney General Letitia James, had any influence on the decision to bring charges.
‘These posts reflect the President’s view that the defendant has committed crimes that should be met with prosecution. They may even suggest that the President disfavors the defendant. But they are not direct evidence of a vindictive motive,’ prosecutors argued.
‘The defendant spins a tale that requires leaps of logic and a big dose of cynicism, then he calls the President’s post a direct admission,’ they continued. ‘There is no direct admission of discriminatory purpose. To the contrary, the only direct admission from the President is that DOJ officials decided whether to prosecute, not him.’
Trump wrote in a Sept. 20 post on his Truth Social platform that ‘nothing is being done’ to Comey, Schiff or James.
‘They’re all guilty as hell,’ he said. ‘They impeached me twice, and indicted me (5 times!), OVER NOTHING. JUSTICE MUST BE SERVED, NOW!!!’
The Wall Street Journal reported that the public Truth Social post was intended as a private message to Bondi.
Comey was indicted by a federal grand jury in late September on charges of false statements and obstructing a congressional proceeding. He pleaded not guilty.
His legal team filed a motion on Oct. 20 to dismiss the indictment on grounds of vindictive and selective prosecution. They also argued that Lindsey Halligan, the interim U.S. Attorney for the Eastern District of Virginia, was unlawfully appointed.
Halligan, Trump’s former personal attorney, was appointed by the president after Erik Siebert, the former U.S. Attorney for the Eastern District of Virginia, resigned. Siebert reportedly resigned amid mounting pressure from the White House to bring charges against Comey and James.
‘The official who purported to secure and sign the indictment was invalidly appointed to her position as interim U.S. Attorney. Because of that fundamental constitutional and statutory defect, the indictment is a nullity and must be dismissed,’ Comey’s legal team wrote.
The Justice Department maintains that Halligan’s appointment as interim U.S. attorney was lawful, arguing that it was in line with federal statute and the Constitution’s Appointments Clause.
Comey’s trial is scheduled to begin in January 2026.
While President Donald Trump is pressuring Senate Republicans to nix the filibuster, Senate Majority Leader John Thune, R-S.D., said during an interview on Fox News Radio’s ‘Guy Benson Show’ that ‘there just simply aren’t the votes’ to eliminate the ’60-vote threshold.’
While Republicans hold the majority in the upper chamber, the procedural hurdle serves as a check on the majority party’s power due to the threshold required to advance matters towards a vote in the chamber.
Thune suggested that there is likely no more than 10 to 12 of the 53 GOP senators who would vote to eliminate the filibuster.
The senator said it had been an ‘important tool’ for Republicans when they had the minority, noting that last year they ‘blocked a whole host of terrible Democrat policies’ due to ‘the 60-vote threshold.’
While Thune suggested that Democrats would vote to eliminate the filibuster if they have the majority, he warned that if Republicans ‘do their dirty work for them,’ Republicans will ‘own all the crap’ Democrats would later do.
President Donald Trump is pushing Republicans to end the procedural hurdle.
‘The Democrats are far more likely to win the Midterms, and the next Presidential Election, if we don’t do the Termination of the Filibuster (The Nuclear Option!), because it will be impossible for Republicans to get Common Sense Policies done with these Crazed Democrat Lunatics being able to block everything by withholding their votes. FOR THREE YEARS, NOTHING WILL BE PASSED, AND REPUBLICANS WILL BE BLAMED. Elections, including the Midterms, will be rightfully brutal,’ the president declared in a portion of a lengthy Truth Social post.
‘TERMINATE THE FILIBUSTER NOW, END THE RIDICULOUS SHUTDOWN IMMEDIATELY, AND THEN, MOST IMPORTANTLY, PASS EVERY WONDERFUL REPUBLICAN POLICY THAT WE HAVE DREAMT OF, FOR YEARS, BUT NEVER GOTTEN. WE WILL BE THE PARTY THAT CANNOT BE BEATEN – THE SMART PARTY!!!’ he declared.
Senate Democrats blocked Republicans’ attempt to reopen the government for a 14th time, all but ensuring that the government shutdown becomes the longest in U.S. history.
The move to again reject the House-passed continuing resolution (CR) comes as winds of optimism and exhaustion have swept through the upper chamber. Lawmakers are engaging in more bipartisan talks, and more believe that an off-ramp is in sight.
Still, Tuesday morning’s vote against the CR came as the shutdown matched the previous 35-day record set in 2019, and it all but ensured that it would surpass that unfortunate milestone later on in the evening.
Senate Minority Leader Chuck Schumer, D-N.Y., and his Democratic caucus are still largely entrenched in their position that unless an ironclad deal on expiring Obamacare subsidies is struck, they won’t reopen the government.
During a speech on the Senate floor, Schumer squarely placed the blame for the healthcare issue on Republicans and President Donald Trump as Americans got notices of increased premiums over the weekend.
‘The only plan Republicans have for healthcare seems to be to eliminate it, and then to tell working people to go figure it out on their own,’ he said. ‘That’s not a healthcare plan. That’s cruel.’
However, his caucus’ resolve showed signs of weakening on Monday, when a group of nearly a dozen Senate Democrats met behind closed doors to discuss a way out.
Senate Majority Leader John Thune, R-S.D., said he was optimistic about the shutdown coming to an end soon, but he wasn’t confident that it would be by the end of this week.
He noted that Republicans have made a plethora of options available to Senate Democrats, including guaranteeing a vote on the expiring subsidies, or ‘whatever their Obamacare bill is,’ after the government reopens. When asked if he believed lawmakers were close to reaching an end, he said, ‘I hope close.’
‘But the pressures, the cross pressures that everybody’s feeling, are great,’ Thune said. ‘But I think there are people who realize this has gone on long enough and that there’s been enough pain inflicted on the American people, and it’s time to end it. So we’ll see whether that’s, you know, sufficient numbers are there.’
Then there’s the reality that the current end date of Nov. 21 for the House-passed CR doesn’t give lawmakers enough time to advance funding bills, which has been a primary objective for Thune and others. And, many don’t want to reopen the government just to see it close back down a few weeks later.
Lawmakers are mulling extending the current CR, either by amending it or with a new bill, which would give them enough time to finish spending bills and avoid a colossal, year-end omnibus spending bill. Some are eyeing January, while others would prefer an extension into December. A trio of spending bills, known as a minibus, could also be tied to the revamped extension.
Those talks are happening parallel to discussions on Obamacare, but neither side has so far made a move to fully construct an off-ramp out of the shutdown.
When asked if he believed that the shutdown could end this week, Sen. Mike Rounds, R-S.D., who has routinely engaged in bipartisan talks since the shutdown began, said, ‘I don’t know, I hope so.’
‘Bottom line is they can stop all this with one vote and get back into it and get back to work on a bipartisan basis,’ he said. ‘Again, that’s what we’re hoping.’
Both sides recognize that changing the subsidies, either through reforms or impacting the rates, will be difficult given that insurers already released rates and guidance over the weekend in line with the start of open enrollment.
Still, lawmakers are discussing a path forward on the subsidies. Sen. Lisa Murkowski, R-Alaska, who has been involved in bipartisan talks, said that her proposal for the subsidies would extend them for two years.
She noted that it would be, ‘Really, really hard to do any reforms right now,’ because the insurance rates had been released, and that her proposal was one of many in the mix.
Ultimately, it’ll come down to the right blend of ideas to build an off-ramp for the subsidies. Murkowski said that changing the income cap, which was eliminated when the subsidies were enhanced under former President Joe Biden, and changes to the low-cost premium contribution were just a couple ideas on the table.
‘There’s no highly brand-new thing that anybody’s really talking about,’ she said. ‘It’s just what’s the right concoction?’
But some Senate Democrats are frustrated that Trump has not gotten more involved and argue that unless he gives an explicit greenlight, any deal crafted on the Hill doesn’t matter.
Trump has agreed to meet with Schumer and House Minority Leader Hakeem Jeffries, D-N.Y., only after the government reopens. And over the weekend, he demanded that Senate Republicans nuke the 60-vote filibuster threshold, something that is unlikely to happen any time soon, if ever.
‘At no point since Oct. 1 has Donald Trump agreed to sit down with Democratic leaders,’ Sen. Andy Kim, D-N.J., said. ‘So, he can talk all he wants about the filibuster, but until he actually puts some skin in the game and sits down and talks to us, like, that is all meaningless to me. And I honestly, like, don’t care about him pontificating this stuff on social media. Like, if he’s got time to tweet, he’s got time to just come and talk to us.’