Alvopetro Energy Ltd (TSX-V:ALV, OTC:ALVOF, FRA:A6Y0) announced that it has completed drilling the 183-H2 well at its 100%-owned Murucututu natural gas field in Brazil.
The well reached a total measured depth of 3,176.5 metres and was drilled within an area assigned prospective resources by independent reserve evaluator GLJ.
Open-hole logs identified 44.4 metres of potential net natural gas pay in the Caruaçu Member, with average porosity of 9.6% and water saturation of 32.8%.
Alvopetro plans to complete the well in up to seven intervals and expects production to begin in early Q4.
Alvopetro shares were up around 2% by Monday afternoon.