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To: Goose94 who wrote (89261)	7/7/2020 7:21:33 AM
From: Goose94	Read Replies (2) \| Respond to of 203665

Alvopetro Energy (ALV-V) Mackie Research Spec Buy Target $1.65 Alvopetro announced that it has commenced production from its Caburé natural gas field. The company is now generating free cash flow that can be reinvested into other growth opportunities. We expect the stock to trade up on the news. On July 6th, deliveries to Bahiagás ramped up to the firm delivery rate of 10.6 MMcf/d with a July sales price of US$5.13/MMbtu. We expect ALV to generate cash flow of US$5.9 million in the second half of 2020, increasing to US$16.7 million in 2021. Connecting the Caburé field to Bahiagás natural gas distribution network is a big milestone for Alvopetro. With the production facilities in place, new discoveries can be quickly monetized. Cash flow generated by the project is expected to be reinvested into the exploitation of the company’s large portfolio of appraisal and exploration plays.