To Focus on the Team’s Safety, only Key PetroTal Personnel Remain on Location to Restart Operations when Appropriate.
Calgary and Houston – August 10, 2020-PetroTal Corp. (“PetroTal” or the “Company”) (TSX‐V: TAL and AIM: PTAL) advises that as a preemptive measure it has shut down the Bretana Oil Field due to civil unrest outside the oil field camp. The civil unrest has been conducted by the same group that the prior week took over Petroperu’s Pump Station No.5 at Saramiriza seeking Government assistance against the COVID-19 crisis. The field closure is expected to last until the inquiry into the incident is completed.
As a result of the attack at Pump Station No.5, PetroTal had requested enhanced security at the Bretana field from Peru’s National Police. The police had dispatched about 40 officers to act in a preventive manner to discourage any violence from the protesters, and a local prosecutor from nearby Requena came along to be able to report on any disturbances. Charges are expected to be laid against those protesters that acted unlawfully during the protest.
In the late hours of August 8, 2020 and into the early hours of August 9, 2020, an armed group of protesters, mostly from areas outside of Bretana, confronted the national police force. As a result, and during the ensuing struggle, about a dozen injuries amongst the police and protesters were reported. Unfortunately, there were also three other injured protestors that later died from their injuries. PetroTal is cooperating fully with the authorities as they conduct their review of this unfortunate incident.
For safety reasons, all non-essential personnel have been evacuated from the oil field pursuant to the normal rotation schedule, with a key group remaining on hand to commence production when it’s appropriate, at which time the remaining crew will be brought back into the field under the appropriate COVID-19 protocol.
It is important to highlight that the protests were against the Government of Peru, as PetroTal is known as a Peruvian led and operated oil company whose mission and vision is in tune with the local communities struggle to be empowered to manage their fair share of the Government’s oil contracts take. PetroTal has consistently promoted that Government and community revenue sharing should happen under full transparency.
PetroTal is a publicly‐traded, dual‐quoted (TSXV: TAL and AIM: PTAL) oil and gas development and production company domiciled in Calgary, Alberta, focused on the development of oil assets in Peru. PetroTal’s flagship asset is its 100% working interest in Bretana oil field in Peru’s Block 95 where oil production was initiated in June 2018, and in early 2020 became the second largest crude oil producer in Peru with more than 10,000 bopd of production. Additionally, the Company has large exploration prospects and is engaged in finding a partner to drill the Osheki prospect in Block 107. The Company’s management team has significant experience in developing and exploring for oil in Northern Peru and is led by a Board of Directors that is focused on safely and cost effectively developing the Bretaña oil field.
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