Alvopetro Commences Trading on the OTCQX Market

CALGARY, Jan. 15, 2019 -  Alvopetro Energy Ltd. (TSX-V:ALV; OTCQX: ALVOF) announces that our common shares are now trading on the OTCQX® Best Market, a U.S. market operated by OTC Markets Group (OTCQX: OTCM), under the symbol "ALVOF".  Alvopetro shares will continue to trade on the TSX Venture Exchange under the symbol "ALV". United States investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

Corey C. Ruttan, President and Chief Executive Officer of Alvopetro stated, "Alvopetro has made considerable progress over the last year in the execution of our natural gas project onshore Brazil.  This is a transformational time for the Company and we are excited to now be trading on OTCQX® to facilitate improved visibility and accessibility for our existing and expanding U.S. shareholder base."

Alvopetro was sponsored for OTCQX by J.P. Galda & Co., a qualified third-party firm responsible for providing guidance on OTCQX requirements and recommending membership. 

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 Gomo natural gas assets and the construction of 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. More particularly and without limitation, this news release contains forward-looking information concerning the anticipated use of proceeds from the private placement, anticipated outcomes and timing of regulatory determinations, future results from operations, projected financial results and financing requirements, future capital and operating costs, future production rates, proposed exploration and development activities, sources and availability of capital, and capital spending levels. 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, recompletion and development activities, the outlook for commodity markets and ability to access capital markets, the performance of producing wells and reservoirs, well development and operating performance, general economic and business conditions, weather and access to drilling locations, the availability and cost of labour and services, 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.  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 these and other factors that could affect the operations or financial results of Alvopetro are included in our annual information form which may be accessed through the SEDAR website at www.sedar.com. 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.