Meridian Capital International Fund announced that on June 18, 2020 it acquired 75,000,000 units of PetroTal Corp. by way of a private placement at a price of 10p per unit, for total consideration of £7,500,000 . Each unit consists of one common share of PetroTal and one half of one warrant. Each whole warrant can be exercised to acquire one PetroTal common share for 16p until the third anniversary of their issuance. The [...]
Financial and Operations Update PetroTal Corp. is pleased to announce that its £14.1 million placing, as announced on June 12, 2020 , has now been completed and trading on AIM in the 141,203,891 new Common Shares, issued pursuant to the Placing will commence this morning. All monetary amounts in this release are in United States dollars, unless otherwise indicated. Financial and Operational Update Further to the [...]
Record levels of oil production, cash flow and income PetroTal Corp. is pleased to announce its financial and operating results for the year and the three months ended December 31, 2019. Selected financial, reserves and operational information is outlined below and should be read in conjunction with the Company's audited consolidated financial statements , management's discussion and analysis and annual information form [...]
PetroTal Corp. is pleased to announce a placing of 141.2 million Placing Units at a price of 10p per unit to raise gross proceeds of £14.1 million (approximately US$18 million). Each Placing Unit will be comprised of one new Common Share and one half of one Warrant. Placing highlights: The Placing was significantly oversubscribed. The Company intends to use the net proceeds of the Placing for ongoing development of the [...]
PetroTal is pleased to announce that it has entered into an arrangement with PETROPERU S.A. The arrangement will result in the Company’s liability to Petroperu in relation to the recent oil price movements being payable over a three year period, rather than at the point of sale of the oil. The arrangement has been structured to minimize the impact of the recent oil price decline on the Company’s cash flows and forward [...]
PetroTal and advises that, due to the impact of the global COVID-19 pandemic, it is necessary to delay its corporate filings for the three months ended March 31, 2020, as provided for by Canadian Securities Administrators. First Quarter 2020 Filings As a result of delays in accessing information due to mandatory stay at home orders in Peru, the Company will postpone the filing of its unaudited consolidated financial [...]
PetroTal announces that the Northern Oil Pipeline operated by PETROPERU S.A. has been shut down by a public health directive from the Peruvian government, thereby resulting in PetroTal having to shut in the Bretana oil field as a result of storage capacity limitations. Additionally, PetroTal provides an update on financing initiatives to accommodate the impact of oil price reductions occurring from oil sales at the [...]
PetroTal Corp. advises that, due to the impact of the global COVID-19 pandemic, it is necessary to delay its 2019 year-end corporate filings, as provided for by Canadian Securities Administrators. 2019 Year-end Filings The Company, as a result of delays related to access to information from mandatory stay at home orders in Peru, will postpone the filing of its audited consolidated financial statements , management's [...]
Achieves record average quarterly production of 9,688 bopd in Q1 2020 Prudent management of cash resources and dividend suspension PetroTal Corp. is pleased to provide an update on its operations and production at the Bretana oil field in Block 95 in Peru , together with a wider Company financing update. All monetary amounts in this release are in United States dollars. HIGHLIGHTS The BN 95-6H horizontal well came online [...]
Continues to remain nimble even with lower oil prices PetroTal Corp. , the Peruvian focused E&P company, notes the following in relation to the global retraction in oil prices, and global market decline. All currency amounts are in United States dollars. Financial Impact In response to the sudden reduction in the Brent oil price, PetroTal has completed a sensitivity assessment of funds available from operations at varying [...]
Selected as the 2020 Venture 50 Top Performing Energy Company PetroTal Corp. , the Peruvian focused E&P company, is pleased to announce that an updated corporate presentation is now available on the Company's website at www.petrotal-corp.com. Additionally, PetroTal is delighted to be recognized as one of the top 50 performing TSXV-listed issuers, ranking first in the energy industry sector. The 2020 Venture 50 The 2020 [...]
20% increase in 1P Reserves to 21.5 million barrels and 21% increase in 2P Reserves to 47.7 million barrels PetroTal Corp. , the Peruvian focused E&P company, is pleased to announce the results of its 2019 year-end reserve evaluation by Netherland, Sewell & Associates, Inc. for the Bretaña oil field, operated 100% by PetroTal, and to provide an update on current activity and production. All currency amounts are in [...]
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