Following the completion of a redetermination process, Alvopetro's (“ALV”) working interest in the Caburé Unit has been revised upwards from 49.1% to 56.2%, increasing its 2P reserves by 25% to 4.6mmboe from 3.7mmboe. We see this a meaningful positive for the stock as we believe that the shares have been weak given the risk that the redetermination could have gone against ALV causing a reserves downgrade and instead there is a large value uplift from the increased reserves. These are very high v ....
08 Apr 2024
Alvopetro Energy: Redetermination adds high value reserves and leads to a 12% increase to our risked NAV
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Alvopetro Energy: Redetermination adds high value reserves and leads to a 12% increase to our risked NAV
- Published:
08 Apr 2024 -
Author:
Anish Kapadia -
Pages:
3
Following the completion of a redetermination process, Alvopetro's (“ALV”) working interest in the Caburé Unit has been revised upwards from 49.1% to 56.2%, increasing its 2P reserves by 25% to 4.6mmboe from 3.7mmboe. We see this a meaningful positive for the stock as we believe that the shares have been weak given the risk that the redetermination could have gone against ALV causing a reserves downgrade and instead there is a large value uplift from the increased reserves. These are very high v ....