PetroTal Announces Q1 2025
Dividend Declaration
USD $0.015/share dividend
payable March 14, 2025
Calgary, AB and Houston, TX -
February 20, 2025 -
PetroTal Corp. ("PetroTal"
or the "Company") (TSX:
TAL, AIM: PTAL and OTCQX: PTALF) is pleased to announce that its
Board of Directors has declared a cash dividend of USD $0.015 per
common share for the first quarter of 2025.
The Q1 2025 dividend is based on Q4
2024 financial results and will be paid according to the following
timetable:
·
Ex-Dividend date (AIM): February 27,
2025
·
Ex-Dividend date (TSX): February 28,
2025
·
Record date: February 28, 2025
·
Payment date: March 14, 2025
The dividend is an eligible dividend
for the purposes of the Income Tax Act (Canada) and investors
should note that future dividends may be subject to fluctuations up
or down in accordance with the Company's return of capital policy.
Shareholders outside of Canada should contact their respective
brokers or registrar agents for the appropriate tax election forms
regarding this dividend.
Since May 27, 2024, the settlement
cycle in Canada and U.S. securities industries has been shortened
from trade date plus two business days (T+2) to trade date plus one
business day (T+1); as a result, PetroTal lists ex-dividend dates
for both AIM and TSX shareholders.
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,
the Company's filed documents at www.sedarplus.ca,
or below:
Camilo McAllister
Executive Vice President and Chief
Financial Officer
Cmcallister@PetroTal-Corp.com
T: (713) 253-4997
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. 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. The forward-looking
statements are based on certain key expectations and assumptions
made by the Company, including, but not limited to, expectations
and assumptions concerning the ability of existing infrastructure
to deliver production and the anticipated capital expenditures
associated therewith, the ability to obtain and
maintain necessary permits and licenses, the ability of government
groups to effectively achieve objectives in respect of reducing
social conflict and collaborating towards continued investment in
the energy sector, reservoir characteristics, recovery factor,
exploration upside, prevailing commodity prices and the actual
prices received for PetroTal's products, including pursuant to
hedging arrangements, the availability and performance of drilling
rigs, facilities, pipelines, other oilfield services and skilled
labour, royalty regimes and exchange rates, the impact of inflation
on costs, the application of regulatory and licensing requirements,
the accuracy of PetroTal's geological interpretation of its
drilling and land opportunities, current legislation, receipt of
required regulatory approval, the success of future drilling and
development activities, the performance of new wells, future river
water levels, the Company's growth strategy, general economic
conditions and availability of required equipment and
services. PetroTal cautions that
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. Factors that could
cause actual results to differ materially from those set forth in
the forward-looking statements include, but are not limited
to, risks associated with the oil and gas
industry in general (e.g., operational risks in
development, exploration and production; delays or changes in plans
with respect to exploration or development projects or capital
expenditures; the uncertainty of reserve estimates; the uncertainty
of estimates and projections relating to production, costs and
expenses; and health, safety and environmental risks), business performance,
legal and legislative developments including changes in tax laws
and legislation affecting the oil and gas industry
and uncertainties resulting from potential delays
or changes in plans with respect to exploration or development
projects or capital expenditures, 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, 2023 and the management's discussion and
analysis for the three months ended March 31, 2024 for additional
risk factors relating to PetroTal, which can be accessed either on
PetroTal's website at www.petrotal-corp.com
or under the Company's profile on
www.sedarplus.ca.
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.
FOFI DISCLOSURE: This press release contains future-oriented
financial information and financial outlook information
(collectively, "FOFI") about PetroTal's prospective results of
operations and production results, 2025 drilling program and
budget, well investment payback, cash position, liquidity and
components thereof, all of which are subject to the same
assumptions, risk factors, limitations and qualifications as set
forth in the above paragraphs. FOFI contained in this press release
was approved by management as of the date of this press release and
was included for the purpose of providing further information about
PetroTal's anticipated future business operations. PetroTal and its
management believe that FOFI has been prepared on a reasonable
basis, reflecting management's best estimates and judgments, and
represent, to the best of management's knowledge and opinion, the
Company's expected course of action. However, because this
information is highly subjective, it should not be relied on as
necessarily indicative of future results. PetroTal disclaims any
intention or obligation to update or revise any FOFI contained in
this press release, whether as a result of new information, future
events or otherwise, unless required pursuant to applicable law.
Readers are cautioned that the FOFI contained in this press release
should not be used for purposes other than for which it is
disclosed herein. All FOFI contained in this press release complies
with the requirements of Canadian securities legislation, including
NI 51-101. Changes in forecast commodity prices, differences in the
timing of capital expenditures, and variances in average production
estimates can have a significant impact on the key performance
measures included in PetroTal's guidance. The Company's actual
results may differ materially from these
estimates.