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Alvopetro Announces Grant of Stock Options

Marketwired

CALGARY, ALBERTA--(Marketwired - Feb 27, 2015) - Alvopetro Energy Ltd. (TSX VENTURE:ALV) announces the grant of stock options.

Acknowledging current market conditions and commodity prices, Alvopetro is issuing a one-time grant of share based compensation, to reduce cash compensation, to our employees and further align their interests with those of our shareholders. Alvopetro has granted stock options to purchase 800,000 common shares under Alvopetro's stock option plan, of which 374,000 were granted to officers. Each stock option has an exercise price of Cdn.$0.45, being the volume weighted average trading price of Alvopetro's shares on the TSX Venture Exchange for the five consecutive trading days up to and including February 26, 2015. All stock options granted expire five years from the date of grant.

Alvopetro Energy Ltd.'s vision is to be the premier independent exploration and production company in Brazil, maximizing shareholder value by being the lowest cost operator and applying innovation to underexploited opportunities. Alvopetro aims to implement a large-scale, repeatable, low-risk, multi-well development program, utilizing advanced technology and completion techniques. Alvopetro's strong financial position, along with our experienced team of professionals, local operating capabilities and highly prospective land base, will enable us to efficiently develop our resource play opportunities.

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.