TIDMPTAL

RNS Number : 0643X

PetroTal Corp.

25 August 2020

Director / PDMR Shareholding

Calgary and Houston - August 25, 2020-PetroTal Corp. ("PetroTal" or the "Company") (TSX--V: TAL and AIM: PTAL) announces that Eleanor Barker, Non-Executive Director, acquired 200,000 Common Shares in the Company on August 20, 2020 at C$0.20/share.

As a result, Eleanor Barker's total beneficial interest in the Company is 200,000 Common Shares, representing .02 per cent of the Company's issued share capital.

 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                                      Eleanor Barker 
     --------------------------------------------------------  ------------------------------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Position/status                                           Non-Executive Director 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   Initial notification/Amendment                            Initial notification 
     --------------------------------------------------------  ------------------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Name                                                      PetroTal Corp 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   LEI                                                        21380047ER33PRH4XH56 
     --------------------------------------------------------  ------------------------------------------------------- 
 4    Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) 
       each type of transaction; (iii) each date; and (iv) each place where transactions have been 
       conducted 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Description of the financial instrument, type of          PetroTal Corp Common Shares 
      instrument 
 
      Identification code 
                                                                 ISIN: CA71677J1012 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   Nature of the transaction                                 The acquisition of common shares of no par value each 
                                                                in the Company 
     --------------------------------------------------------  ------------------------------------------------------- 
 c)   Price(s) and volume(s)                                    Price          Volume 
                                                                 C$0.20/share   200,000 
     --------------------------------------------------------  ------------------------------------------------------- 
 d)   Aggregated information-  Aggregated volume 
       -  Price                                                   200,000 Common Shares 
                                                                  C$0.20/share 
     --------------------------------------------------------  ------------------------------------------------------- 
 e)   Date of the transaction                                   August 20, 2020 
     --------------------------------------------------------  ------------------------------------------------------- 
 f)   Place of the transaction                                  TSX Venture Exchange 
     --------------------------------------------------------  ------------------------------------------------------- 
 

ABOUT PETROTAL

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. 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 Bretana oil field.

For further information, please see the Company's website at www.petrotal-corp.com , the Company's filed documents at www.sedar.com , or contact:

Douglas Urch

Executive Vice President and Chief Financial Officer

Durch@PetroTal-Corp.com

T: (713) 609-9101

Manuel Pablo Zuniga-Pflucker

President and Chief Executive Officer

Mzuniga@PetroTal-Corp.com

T: (713) 609-9101

Celicourt Communications

Mark Antelme / Jimmy Lea

petrotal@celicourt.uk

T : 44 (0) 208 434 2643

Strand Hanson Limited (Nominated & Financial Adviser)

James Spinney / Ritchie Balmer

T: 44 (0) 207 409 3494

Stifel Nicolaus Europe Limited (Joint Broker)

Callum Stewart / Simon Mensley / Ashton Clanfield

Tel: +44 (0) 20 7710 7600

Auctus Advisors LLP (Joint Broker)

Jonathan Wright / Rupert Holdsworth Hunt / Harry Baker

T: +44 (0) 7711 627449

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, including, but not limited to: PetroTal's business strategy, objectives, strength and focus; the Company's ability to operate in accordance with developing public health efforts to contain COVID-19; the timing of filing the Interim Filings. 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. The forward--looking statements are based on certain key expectations and assumptions made by the Company. 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. In addition, the Company cautions that current global uncertainty with respect to the spread of the COVID-19 virus and its effect on the broader global economy may have a significant negative effect on the Company. While the precise impact of the COVID-19 virus on the Company remains unknown, rapid spread of the COVID-19 virus may continue to have a material adverse effect on global economic activity, and may continue to result in volatility and disruption to global supply chains, operations, mobility of people and the financial markets, which could affect interest rates, credit ratings, credit risk, inflation, business, financial conditions, results of operations and other factors relevant to the Company. Please refer to the risk factors identified in the Company's annual information form and management's discussion and analysis for the year ended December 31, 2019 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.

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August 25, 2020 02:00 ET (06:00 GMT)