Alvopetro Energy Ltd. reported Sales results for the month of March 2024. March sales volumes averaged 1,911 boepd including natural gas sales of 10.9 MMcfpd, associated natural gas liquids sales from condensate of 86 bopd and oil sales of 8 bopd, based on field estimates. March volumes increased by 29% from February.

Our First Quarter sales averaged 1,701 compared to 2,143 boepd in Fourth Quarter 2023. First Quarter production was impacted by reduced nominations from our offtaker, Bahiagás, in January and February. Demand resumed in March; however, lower natural gas nominations of approximately 8.9 MMcfpd are anticipated for April.