REG - PetroTal Corp. - Amendment to Share Buyback Program

PetrotalAnnouncement

04/04/2025 07:00

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RNS Number : 6257D  PetroTal Corp.  04 April 2025

 

PetroTal Announces Amendment to Share Buyback Program

 

 

Calgary, AB and Houston, TX - April 4, 2025-PetroTal Corp. ("PetroTal" or the
"Company") (TSX: TAL, AIM: PTAL and OTCQX: PTALF) announces a procedural
update to its normal course issuer bid (the "NCIB").

Further to the NCIB renewal announcement on May 22, 2024, Common Shares
purchased under PetroTal's NCIB will either be cancelled or, where
appropriate, temporarily held in treasury to satisfy employee share awards.
All other details of the NCIB remain unchanged from the renewal announcement
on May 22, 2024.

ABOUT PETROTAL

 

PetroTal is a publicly traded, tri‐quoted (TSX: TAL, AIM: PTAL and OTCQX:
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 2022,
PetroTal became the 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.

 

For further information, please see the Company's website at
www.petrotal-corp.com (http://www.petrotal-corp.com) , the Company's filed
documents at www.sedar.com (http://www.sedar.com) , or below:

 

 

Camilo McAllister

Executive Vice President and Chief Financial Officer

Cmcallister@PetroTal-Corp.com

T: (386) 383 1634

 

Manolo Zuniga

President and Chief Executive Officer

Mzuniga@PetroTal-Corp.com

T: (713) 609-9101

 

PetroTal Investor Relations

InvestorRelations@PetroTal-Corp.com

 

Celicourt Communications

Mark Antelme / Jimmy Lea

petrotal@celicourt.uk

T : 44 (0) 20 7770 6424

 

Strand Hanson Limited (Nominated & Financial Adviser)

Ritchie Balmer / James Spinney / Robert Collins

T: 44 (0) 207 409 3494

 

Stifel Nicolaus Europe Limited (Joint Broker)

Callum Stewart / Simon Mensley / Ashton Clanfield

T: +44 (0) 20 7710 7600

 

Peel Hunt LLP (Joint Broker)
Richard Crichton / David McKeown / Georgia Langoulant
T: +44 (0) 20 7418 8900

 

 

READER ADVISORIES

FORWARD-LOOKING STATEMENTS: This press release contains certain statements
that may be deemed to be forward-looking statements. Such statements relate to
possible future events relating to the renewal of the NCIB and the ASPP,
including, but not limited to: the duration of the NCIB and potential
purchases thereunder (including those made under the ASPP); anticipated
advantages of the NCIB to the Company's shareholders including in respect of
the Company's expectations of enhanced total long-term shareholder returns,
increased Common Share value correlating with improved per share metrics and
positive impact on shareholder sentiment. All statements other than statements
of historical fact may be forward-looking statements. Forward-looking
statements are often, but not always, identified by the use of words such as
"anticipate", "believe", "expect", "plan", "estimate", "potential", "will",
"should", "continue", "may", "objective", "intend" and similar expressions.
The forward-looking statements provided in this press release are based on
management's current belief, based on currently available information, as to
the outcome and timing of future events.

 

PetroTal cautions that its intention to proceed with the NCIB and other
forward-looking statements relating to PetroTal are subject to all of the
risks, uncertainties and other factors, which may cause the actual results,
performance, capital expenditures or achievements of the Company to differ
materially from anticipated future results, performance, capital expenditures
or achievement expressed or implied by such  forward-looking statements,
including the Company's intentions regarding the NCIB and its ability to
achieve related anticipated benefits. Factors that could  cause actual
results to differ materially from those set forth in the forward-looking
statements include, but are not limited to, business performance, legal and
legislative developments including changes in tax laws and legislation
affecting the oil and gas industry, credit ratings and risks,  fluctuations
in interest rates and currency values, changes in the financial landscape both
domestically and abroad, including volatility in the stock market and
financial system, wars (including Russia's war in Ukraine and the
Israeli-Hamas conflict), regulatory developments, commodity price volatility,
price differentials and the actual prices received for products, exchange rate
fluctuations, legal, political and economic instability in Peru, access to
transportation routes and markets for the Company's production, changes in
legislation affecting the oil and gas industry, changes in the financial
landscape both domestically and abroad (including volatility in the stock
market and financial system) and the occurrence of weather-related and other
natural catastrophes. Readers are cautioned that the foregoing list of factors
is not exhaustive. Please refer to the annual information form for the year
ended December 31, 2024 and the management's discussion and analysis for the
three and twelve months ended December 31, 2024 for additional risk factors
relating to PetroTal, which can be accessed either on PetroTal's website at
www.petrotal-corp.com (http://www.petrotal-corp.com/) or under the Company's
profile on www.sedarplus.ca (https://www.sedarplus.ca/landingpage/) . The
forward-looking statements contained in this press release are made as of the
date hereof and the Company undertakes no obligation to update publicly or
revise any forward-looking statements or information, whether as a result of
new information, future events or otherwise, unless so required by applicable
securities laws.

 

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