Calgary, AB and Houston, TX – November 29, 2021- PetroTal Corp. (“PetroTal” or the “Company”) (TSX-V: TAL, AIM: PTAL and OTC: PTALF) advises that a 7.5 magnitude earthquake hit northern Peru early Sunday, November 28, 2021, with the epicentre approximately 98km from the town of Santa Maria de Nieva and 400km from Bretana.
PetroTal’s production facilities were not damaged, and the Company reported no injuries related to the earthquake. Earthquakes are relatively common in Peru and PetroTal’s development platform and related facilities are designed to withstand earthquakes of equal or greater scale.
The social unrest disruption, as reported by the Company on November 24, 2021 remains ongoing, with production rates being managed to align with remaining storage capacity. Further updates will be provided as and when known.
PetroTal is a publicly traded, tri‐quoted (TSXV: TAL, AIM: PTAL and OTC: PTALF) 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. In early 2020, Petrotal became the second largest crude oil producer in Peru. The Company’s management team has significant experience in developing and exploring for oil in Peru and is led by a Board of Directors that is focused on safely and cost effectively developing the Bretana oil field. It is actively building new initiatives to champion community sensitive energy production, benefiting all stakeholders.
Executive Vice President and Chief Financial Officer
T: (713) 609-9101
President and Chief Executive Officer
T: (713) 609-9101