PetroTal Corp. Update on Earthquake Affecting Northern Peru (2233A)
28 Mayo 2019 - 01:01AM
UK Regulatory
TIDMPTAL
RNS Number : 2233A
PetroTal Corp.
28 May 2019
PetroTal Provides Update on Earthquake Affecting Northern
Peru
Calgary and Houston - May 27, 2019-PetroTal Corp. ("PetroTal" or
the "Company") (TSX-V: TAL), a development and production company
focused on oil assets in Peru, is providing an update to the
earthquake that struck Northern Peru on Sunday May, 26, 2019.
The Company was notified that no injuries were sustained by
personnel at the Bretana oil field, and the drilling and production
teams report no impact to the operations. The Bretana platform was
engineered to be able to withstand situations such as this. The
Company is currently conducting tests to drilling and production
equipment to assure safe and efficient operations.
PetroTal, through its Corporate Social Responsibility ("CSR")
team, is reaching out to the surrounding communities to assess
damage. PetroTal is committed to assuring that our operations are
safe and environmentally secure, as well as providing assistance to
the local communities.
Manolo Zuniga, President and Chief Executive Officer, said:
"PetroTal's operations are ongoing as normal. This includes our
drilling of the BN 95-3H well as well as production from the two
oil wells at the location. We are concerned about the local
communities and the damage they may have suffered, but I am
extremely proud of our CSR team who acted immediately to initiate
contact, assess damage, and provide assistance as we can to the
local people."
ABOUT PETROTAL
PetroTal is a publicly-traded independent oil and gas
development and production company domiciled in Calgary, Alberta,
focused on the development of oil assets in Peru. The Company's
management team has significant experience in developing oil fields
in Northern Peru and is focused on safely and cost effectively
developing and exploiting the Bretaña oil field in Block 95 and to
continue to evaluate the Osheki prospect in Block 107.
For further information, please contact:
Greg Smith
Executive Vice President and Chief Financial Officer
Gsmith@Petrotal-Corp.com
T: (713) 609-9101
Manolo Zuniga
President and Chief Executive Officer
Mzuniga@Petrotal-Corp.com
T : (713) 609-9101
Mark Antelme / Henry Lerwill
Celicourt Communications
petrotal@celicourt.uk
T : 44 207 520 9261
James Spinney / Ritchie Balmer / Eric Allan
Strand Hanson Limited (Nominated & Financial Adviser)
T: 44 (0) 207 409 3494
John Prior / Emily Morris / George Price
Numis Securities Limited (Joint Broker)
T: +44 (0) 207 260 1000
Jonathan Wright / Hugh R. Sanderson
GMP FirstEnergy (Joint Broker)
T: +44 (0) 20 7448 0200
http://www.petrotal-corp.com/
FORWARD-LOOKING STATEMENTS: This press release may contain certain
statements that may be deemed to be forward-looking statements.
Such statements relate to possible future events, including,
but not limited to PetroTal's business strategy, objectives,
strength and focus and the impact of the declaration of commerciality
in respect of the Bretana oil field. 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" and similar expressions. In addition, statements
relating to expected production, reserves, resources, recovery,
costs and valuation are deemed to be forward-looking statements
as they involve the implied assessment, based on certain estimates
and assumptions that the reserves and resources described can
be profitably produced in the future. 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, reservoir characteristics, recovery factor,
exploration upside, prevailing commodity prices and the actual
prices received for PetroTal's products, the availability and
performance of drilling rigs, facilities, pipelines, other oilfield
services and skilled labour, royalty regimes and exchange rates,
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, the Company's growth
strategy, general economic conditions, availability of required
equipment and services and prevailing commodity prices. Although
the Company believes that the expectations and assumptions on
which the forward-looking statements are based are reasonable,
undue reliance should not be placed on the forward-looking statements
because the Company can give no assurance that they will prove
to be correct. Since forward-looking statements address future
events and conditions, by their very nature they involve inherent
risks and uncertainties. Actual results could differ materially
from those currently anticipated due to a number of factors and
risks. These 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),
commodity price and 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 and uncertainties resulting
from potential delays or changes in plans with respect to exploration
or development projects or capital expenditures. Please refer
to the risk factors identified in the Company's annual information
form for the year ended December 31, 2017 and management's discussion
and analysis for the three and nine months ended September 30,
2018, which are available on SEDAR at www.sedar.com. 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.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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