Alvopetro Announced Binding Arbitration Decision In Its Favour
Alvopetro Energy (ALV.V), which saw its shares gain 3.7% yesterday, announced Tuesday that the arbitral tribunal before the International Court of Arbitration of the International Chamber of Commerce (ICC) has found in favour of its request to "give effectiveness to the decision of the independent expert" appointed by Alvopetro and its third-party partner in connection with the redetermination of working interests in the unitized area which includes Alvopetro's Cabure's natural gas field.Alvopetro in a statement said on April 27, 2026, it received the final order of the tribunal, which found in its favour, stating the decision of the expert is "final, valid, and effective, definitively binding the parties, pursuant to the UOA [Unit Operating Agreement] and maintaining Alvopetro's 56.2% working interest in the Unit".With respect to costs, the final order stipulates that our partner shall be responsible for 90% of the costs of the proceeding, Alvopetro added.
