Alvopetro Energy Ltd. - ALV-V 

Company Website 

  • Alvopetro commenced production of natural gas and liquids in Brazil during July 2020. They plan to grow via development drilling, exploration drilling and via acquisition. They have made great progress to date. ALV has had recent success on their exploration program and are now working to bring this production on and decide the development phase on these projects.
    Production in Q2/22 was 2,359 boe/d in Q2/22. They get a fantastic price of US$11.90/mcf in the quarter which is adjusted regularly to market prices around the world. There is a shortage of natural gas in the area they operate in the country. Funds flow in the quarter was US$12.4M (US$0.37 per share) up from US$5.5M (US$0.16 per share) in Q2/21.
    ALV has 36.2M shares outstanding and insiders are significant shareholders. The market capitalization is over $240M. ALV has a working capital surplus of US$11M, cash on the balance sheet of US$13.7M and no debt now.
    We see ALV generating US$1.45 per share in cash flow this year. We have a $15.00 per share Bull Market Peak target.
Corey Ruttan
Corey Ruttan
President and CEO
Corey C. Ruttan is the President and Chief Executive Officer and a Director of Alvopetro. Previously, Mr. Ruttan was the President and Chief Executive Officer of Petrominerales Ltd. from May 2010 until Petrominerales was acquired by Pacific Rubiales Energy Corp. in November 2013. Prior thereto, he was the Vice President Finance and Chief Financial Officer of Petrominerales since May 2006. From March 2000 to May 2010, Mr. Ruttan was the Senior Vice President and Chief Financial Officer of Petrobank Energy and Resources Ltd. and held increasingly senior positions with Petrobank since Petrobank's inception in 2000. He also served as Executive Vice President and Chief Financial Officer of Lightstream Resources Ltd. from October 2009 to May 2010. Mr. Ruttan previously served as Vice President of Caribou Capital Corp. from June 1999 to March 2000; Manager Financial Reporting of Pacalta Resources Ltd. from May 1997 to June 1999; and began his career at KPMG from September 1994 to May 1997. Mr. Ruttan obtained his Bachelor of Commerce degree majoring in Accounting from the University of Calgary in 1994 and obtained his Chartered Accountant designation in 1997.