PetroTal Corp.

46% increase in 2P reserves value per share to USD$1.75 2P estimated ultimate recovery now over 108 million barrels Strong 1P and 2P reserves replacement ratios of 179% and 418%, respectively 24% increase in 2P reserves to 96.7 million barrels 21% increase in 1P Reserves to 45.4 million barrels Added 7 2P well locations, a 32% increase, extending the 2P reserve life to 22 years 2P after tax NPV-10 value increased 48 [...]

PetroTal Recognized for ESG Efforts Conditional Approval Received for Graduation to the Toronto Stock Exchange PetroTal Corp. is pleased to announce the release of PetroTal's 2021 ESG Report, which has been posted on the Company's website . PetroTal is committed to providing a sustainable business plan that delivers meaningful opportunities for all stakeholders, which includes; dedicating significant attention [...]

Return of capital program that targets a minimum quarterly cash liquidity of US$50 million Development plan targeting average 2023 production between 14,000 and 15,000 bopd Anticipated 2023 EBITDA of $220 million at $84/bbl Brent oil forecast PetroTal Corp. is pleased to announce a fully funded 2023 capital investment program of $125 million that is expected to generate significant after-tax, pre debt service free cash [...]

Naturally flowing production of 3,650 bopd ; Social Trust Addendum approved; Production restored to 20,000 bopd PetroTal Corp. is pleased to announce the successful testing results of well 12H, the Company's fourteenth producing well at the Bretana oil field. Well 12H highlights Well 12H has tested naturally, off pump, at approximately 2,900 barrels of oil per day over its first 10 days of production since December 16 [...]

PetroTal Corp. and announces the exercise of Performance Warrants and issuance of Common Shares to employees pursuant to annually vested performance share unit plan . Exercise of Performance Warrants PetroTal received notices to exercise 389,384 Performance Warrants at a price of US$0.1869 per Common Share. Following the warrant exercises, the Company will have no further Performance Warrants outstanding. PSU Issue [...]

PetroTal Corp. is pleased to announce the following corporate update. River Transportation Reopened On December 14, 2022, the Asociacion Indigena de Desarrollo y Conservacion de Bajo Puinahua removed the river blockade to allow oil barge transportation access in and out of the Company's operating area coinciding with positive working table discussions held on December 14, 2022 where the Junta of Authorities of Puinahua [...]

PetroTal Corp. and announces the following corporate updates. Peruvian political changes On December 7, 2022, the Peruvian Congress voted to remove Mr. Pedro Castillo as President of Peru. Pursuant to Peruvian constitutional law, the Vice-President, Ms. Dina Boluarte assumes the Presidency. Following this change, there will be a reassessment of all government Ministers before a new cabinet is named. This process is [...]

Strong balance sheet position $150 million of free cash flow delivered in nine months of 2022 PetroTal Corp. is pleased to announce its financial and operating results for the three and nine months ended September 30, 2022 . 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 [...]

Average production over 8,000 bopd during first week PetroTal Corp. is pleased to announce the successful testing results of well 13H, the Company's thirteenth producing well. Well 13H highlights Well 13H has successfully tested at approximately 8,000 barrels of oil per day over its first week of production, placing it in the top horizonal producers drilled by the Company, with the November 2, 2022 rate at 7,825 bopd; To [...]

PetroTal Corp. is pleased to announce the following operational and corporate updates. Q3 2022 Production PetroTal's Q3 oil production was approximately 1.12 million barrels, representing 12,229 barrels of oil per day , which was the Company's second best producing quarter to date. The current technical production capacity of the Bretana oilfield is approximately 18,000 bopd, prior to the upcoming completion of well 13H [...]