Exploration & Production | New Company / Start-Ups | Capital Markets
Petrominerales, Pacific Rubiales Form Brazil-Focused E&P
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Concurrent with the closing of the merger agreement between Petrominerales and Pacific Rubiales Energy Corp., Alvopetro Energy Ltd. has been launched as a standalone resource company.
Alvopetro holds all of the Brazilian assets owned by Petrominerales prior to closing of the Arrangement. Conditional listing approval for the shares of Alvopetro has been received from the TSX Venture Exchange. Once the listing conditions of the TSX-V are met, Alvopetro Shares will trade on the TSX-V under the symbol 'ALV'. This is expected to occur in approximately four to five trading days from today.
Alvopetro Highlights: Current cash position of C$105 million; Highly prospective land base - 120,013 gross acres (119,321 net acres) onshore Brazil; Vast resource potential in the Gomo Member of the…Finish this article — free account or subscription
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