Alvopetro Energy expands Mannville heavy oil position with Courser Energy agreement

Alvopetro Energy expands Mannville heavy oil position with Courser Energy agreement

Tue, September 8, 2026 at 4:26 PM GMT+3 1 min read

Alvopetro Energy Ltd (TSX-V:ALV, OTC:ALVOF, FRA:A6Y0) announced that it has entered into an agreement with Courser Energy to add 28 gross sections, or 14 net sections, of heavy oil lands in Alberta's Mannville fairway.

Under the agreement, Alvopetro will drill five earning wells beginning in the fourth quarter of 2026 at an estimated cost of C$8.5 million. The program will use open-hole multilateral wells and single-leg horizontal wells with recirculation strings to target reservoirs across the newly acquired lands.

Alvopetro will earn a 75% working interest in the earning wells before payout, declining to 50% after payout. The company will also hold a 50% interest in surrounding undeveloped lands. The agreement provides potential exposure to a drilling inventory of more than 75 gross locations.

The partnership expands Alvopetro's existing Mannville position and gives the company access to lands held by Courser, which has developed a portfolio of drilling opportunities in the play.

"The Courser team has built an impressive land position from strong technical work," Alvopetro CEO Corey Ruttan said in a statement.

"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. The program also gives us exposure to multiple well designs in attractive reservoirs creating added optionality across our wider Mannville portfolio."