Alvopetro Energy Adds Heavy Oil Lands to Mannville Position in Alberta

12:44 PM EDT, 09/08/2026 (MT Newswires) -- Alvopetro Energy (ALV.V) added 14 net sections of high-quality heavy oil lands to its current position in the Mannville heavy oil fairway in eastern Alberta, for an undisclosed sum, the company said on Tuesday. Starting in the fourth quarter, the company will drill five earning wells at a cost of CA$8.5 million. It is partnering with Courser Energy, which has an established track record in the Mannville play fairway with an inventory of ready-to-drill opportunities, it added. Alvopetro will earn a 75% working interest pre-payout of the earning wells and a 50% interest post-payout along with a 50% interest in all surrounding undeveloped land, a statement said. "This new partnership provides exposure to an attractive inventory of ready-to-drill locations within the Mannville heavy oil fairway to complement and expand on our existing position," said Alvopetro Chief Executive Officer Corey Ruttan. "The program also gives us exposure to multiple well designs in attractive reservoirs creating added optionality across our wider Mannville portfolio." Alvopetro shares were last seen up CA$0.12 at CA$10.64 on the TSX Venture Exchange. Price: 10.64, Change: +0.12, Percent Change: +1.14