TIDMPTAL
RNS Number : 8549P
PetroTal Corp.
12 October 2023
PetroTal Announces New Director
Emily Morris to join PetroTal's board of directors
Calgary, AB and Houston, TX - October 12, 2023-PetroTal Corp.
("PetroTal" or the "Company") (TSX: TAL, AIM: PTAL and OTCQX:
PTALF) is pleased to announce that Emily Morris has joined the
PetroTal board of directors.
Emily Morris Appointed to PetroTal's Board
The Company welcomes Emily Morris, who was recently appointed to
PetroTal's Board. Ms. Morris joins as an independent non-executive
director, bringing over 20 years of experience in energy capital
markets, M&A and ESG to the Board. Ms. Morris is currently a
private corporate finance consultant, having previously led the
energy team for a number of investment banks in London. Her career
spans equity research, fund management, sales, corporate broking
and advisory across the energy and resources sectors.
Manuel Pablo Zuniga-Pflucker, President and Chief Executive
Officer, commented:
"I would like to extend a very warm welcome to Emily Morris who
has now joined the Company's board of directors. Her past
experience in M&A and corporate finance should help guide the
Company's capital allocation strategies for years to come."
The following additional information is provided in accordance
with paragraph (g) of Schedule Two of the AIM Rules for
Companies.
Emily Morris (previous name Emily Matthews) (aged 47)
Current Directorships Directorships held over the past
5 years
Brillington Limited The African Foundation For Resources
& Industry
------------------------- ----------------------------------------
Other than the information contained within this announcement,
there is no further information required to be disclosed pursuant
to paragraph (g) of Schedule Two of the AIM Rules for
Companies.
Upcoming Marketing Events
1. Schachter Energy Conference - October 14, 2023 in Calgary, Alberta
2. Canaccord TSX Conference - October 17, 2023 in Toronto, Ontario
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.sedar.com , or below:
Douglas Urch
Executive Vice President and Chief Financial Officer
Durch@PetroTal-Corp.com
T: (713) 609-9101
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, including, but
not limited to, oil production levels and guidance, including the
ramp up and resumption of shut-in production. 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. Without
limitation, this press release contains forward-looking statements
pertaining to: the appointment of an additional director during the
forthcoming year; expectations surrounding disrupted barge
logistics and the consequences in respect thereof, including in
relation to the Company's ability to maintain production at about
22,000 bopd ; effects of the illegal blockade removal and release
of oil convoys in respect of overall safety in the Loreto area;
PetroTal's recommendations and expectations surrounding furniture
negotiations with AIDECOBAP and future social fund allocation
decisions. In addition, statements relating to expected production,
reserves, recovery, replacement, 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 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, the ability of government groups
to effectively achieve objectives in respect of reducing social
conflict and collaborating towards continued investment in the
energy sector, including pursuant to Acta, 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. 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 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 and uncertainties resulting from potential delays or
changes in plans with respect to exploration or development
projects or capital expenditures; changes in the financial
landscape both domestically and abroad, including volatility in the
stock market and financial system; and wars (including Russia's war
in Ukraine). Please refer to the risk factors identified in the
Company's most recent AIF and MD&A 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.
OIL REFERENCES: All references to "oil" or "crude oil"
production, revenue or sales in this press release mean "heavy
crude oil" as defined in NI 51-101.
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END
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