Alvopetro announced strong Q2’21 results, with US$5.7mm of cash flow from operations (+32% q/q) and ~US$4mm of free cash flow (after capex and interest), which implies an annualised FCF yield of >20%. This allowed Alvopetro to repay US$5.5mm of advances outstanding under its credit facility, reducing the balance outstanding to US$7.5mm and ending the quarter with net debt of just US$3mm. Production of 2.4kboe/d (+9% q/q) is running ahead of its original guidance of 1.85-2.2kboe/d for FY’21. July ....
