Alvopetro Announces Annual Grant of Stock Options

CALGARY, ALBERTA--(Marketwired - Dec. 10, 2015) - Alvopetro Energy Ltd. (TSX VENTURE:ALV) announces its annual grant of stock options. Consistent with our routine annual stock option grants in 2014 and 2013, Alvopetro has today granted stock options to purchase 1,422,500 common shares under Alvopetro's stock option plan, of which 1,032,500 were granted to directors and officers. Each stock option has an exercise price of $0.28, being the volume weighted average trading price of Alvopetro's shares on the TSX Venture Exchange for the five (5) consecutive trading days ending on and including December 9, 2015. All stock options granted expire five (5) 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 applying innovation to underexploited opportunities. Our strategy is to focus on three core opportunities including lower risk development drilling on our mature fields, shallow conventional exploration, and the development of the significant hydrocarbon potential present in our deep Gomo resource play.

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.