Alvopetro Inc. has received an independent engineering evaluation of the prospective resources attributable to the oil and gas exploration blocks located in the Recôncavo Basin, Brazil (the "Resource Report") of Alvopetro S.A. Extração de Petróleo E Gás Natural (Alvopetro S.A.), a Brazilian oil and gas company in which the Company has a 25 percent indirect ownership interest.

The Resource Report is dated October 15, 2012 with an effective date of August 31, 2012 and was prepared by Petrotech Engineering Ltd. (Petrotech) in compliance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities and the Canadian Oil and Gas Evaluation (COGE) Handbook. The Resource Report was approved by the Company's Board of Directors on April 25, 2013.

Alvopetro S.A. owns a 100 percent working interest in exploration blocks 131, 132, 144, 157, and 197 located in the Recôncavo Basin of Brazil, which are subject to an additional gross overriding royalty of 2.5 percent.

Tags: Alvopetro Inc.