PetroTal Corp.

Funding will support ongoing Bretana oil field development PetroTal Corp. is pleased to announce that on February 16, 2021 it completed the issuance of the US$100 million issue of senior secured bonds, previously announced on February 2, 2021. The new bond issue will be PetroTal's only interest bearing debt and will be used to retire the existing derivative liability with Petroperu, continue development of the Bretana oil [...]

PetroTal Corp. announces that it has successfully completed the placement of a 3-year US$100 million senior secured bond with a fixed coupon of 12% and a borrowing limit of $125 million . PetroTal intends to use the net proceeds from the Bond to repay all existing outstanding loans , to finance the continued development of the Bretana oil field, to provide support for crude oil hedging transactions, and to finance [...]

PetroTal Corp. advises that, as announced by Gran Tierra Energy Inc. on January 20, 2021, Gran Tierra Resources Limited has sold an aggregate of 109,006,250 common shares in the Company . The Company understands that multiple entities purchased the shares sold by GTRL and that, following the sale, GTRL continues to hold 137,093,750 Common Shares, representing 16.8% of PetroTal's issued and outstanding Common Shares [...]

Update on Third-Party Sale of Shares PetroTal Corp. is pleased to announce that it has executed final agreements with PETROPERU S.A. to complete the restructuring of the contingent liability referenced in PetroTal's June 12, 2020 press release and to extend the oil sales contract with Petroperu for an additional two years. Highlights Oil sales to Petroperu under the Oil Sales Contract for deliveries through the Northern [...]

Funds anticipated to be primarily invested to expand development of the Bretana oil field and prepay 100% of Petroperu's restructured debt PetroTal Corp. is pleased to announce that it has mandated Pareto Securities AS to arrange a series of fixed income investor virtual meetings commencing January 14, 2021. Subject to, inter alia, market conditions, a new USD 100 million senior secured three year bond issue may follow [...]

Current Oil Production at 9,500 bopd with the ONP pipeline fully operational and Brazil export viability confirmed PetroTal Corp. is pleased to announce that following the recommencement of operations of Petroperu's Northern Oil Pipeline , oil production at the Bretana oil field is currently at 9,500 barrels per day and expected to reach 10,000 bopd in the next few days. Total oil production for 2020 was 2.08 million [...]

Initial shipment of 106,000 barrels of oil into Brazil for export to the Atlantic region PetroTal Corp. is pleased to announce the first export of Bretana oil into the Atlantic region through Brazil. This provides PetroTal with an additional option to monetize oil sales, beyond the Company's existing important sales arrangements with Petroperu using the Northern Oil Pipeline , and to the Iquitos refinery. This will [...]

Peruvian government and Indigenous communities reach agreement ending pipeline disruption PetroTal Corp. is pleased to announce that social issues affecting the Northern Oil Pipeline , operated by Petroperu, have now been resolved. As a result, PetroTal has now recommenced oil deliveries at Saramuro , for sales into the ONP. The social disruption had impacted the ONP's operations for 85 days and, as a result of continued [...]

Remus Horizons replaces Gran Tierra as PetroTal's largest shareholder PetroTal Corp. announces that it has been informed by Gran Tierra Resources Ltd. , a control person of PetroTal, that GTRL has entered into a private agreement with Remus Horizons PCC Limited in respect of the purchase by Remus of 218,012,500 common shares of PetroTal at a price of GBP0.099385 per Purchased Share, for an aggregate purchase price of [...]

Following social unrest, production has been restricted to 5,000 bopd to manage oil inventory PetroTal Corp. is pleased to announce its financial and operating results for the three and nine months ended September 30, 2020 . Selected financial and operational information is outlined below and should be read in conjunction with the Company's unaudited consolidated financial statements and management's discussion and [...]