PetroTal Corp. Bretana Oil Field Closure due to Social Disruption (6150V)
10 Agosto 2020 - 1:00AM
UK Regulatory
TIDMPTAL
RNS Number : 6150V
PetroTal Corp.
10 August 2020
PetroTal announces Closure of Bretana Oil Field due to Social
Disruption
To Focus on the Team's Safety, only Key PetroTal Personnel
Remain on Location to Restart Operations when Appropriate
Calgary and Houston - August 10, 2020-PetroTal Corp. ("PetroTal"
or the "Company") (TSX--V: TAL and AIM: PTAL) advises that as a
preemptive measure it has shut down the Bretana Oil Field due to
civil unrest outside the oil field camp. The civil unrest has been
conducted by the same group that the prior week took over
Petroperu's Pump Station No.5 at Saramiriza seeking Government
assistance against the COVID-19 crisis. The field closure is
expected to last until the inquiry into the incident is
completed.
As a result of the attack at Pump Station No.5, PetroTal had
requested enhanced security at the Bretana field from Peru's
National Police. The police had dispatched about 40 officers to act
in a preventive manner to discourage any violence from the
protesters, and a local prosecutor from nearby Requena came along
to be able to report on any disturbances. Charges are expected to
be laid against those protesters that acted unlawfully during the
protest.
In the late hours of August 8, 2020 and into the early hours of
August 9, 2020, an armed group of protesters, mostly from areas
outside of Bretana, confronted the national police force. As a
result, and during the ensuing struggle, about a dozen injuries
amongst the police and protesters were reported. Unfortunately,
there were also three other injured protestors that later died from
their injuries. PetroTal is cooperating fully with the authorities
as they conduct their review of this unfortunate incident.
For safety reasons, all non-essential personnel have been
evacuated from the oil field pursuant to the normal rotation
schedule, with a key group remaining on hand to commence production
when it's appropriate, at which time the remaining crew will be
brought back into the field under the appropriate COVID-19
protocol.
It is important to highlight that the protests were against the
Government of Peru, as PetroTal is known as a Peruvian led and
operated oil company whose mission and vision is in tune with the
local communities struggle to be empowered to manage their fair
share of the Government's oil contracts take. PetroTal has
consistently promoted that Government and community revenue sharing
should happen under full transparency.
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 with more than 10,000 bopd of production.
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 Bretaña 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 AGM; and the Consolidation. 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, including, but not limited to,
expectations and assumptions concerning the timely receipt of all
required Shareholder, TSXV and regulatory approvals. 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.
Please refer to the risk factors identified in the Company's annual
information form for the year ended December 31, 2019 and
management's discussion and analysis for the three months ended
March 31, 2020 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
STRFIFLETFIILII
(END) Dow Jones Newswires
August 10, 2020 02:00 ET (06:00 GMT)
Petrotal (LSE:PTAL)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Petrotal (LSE:PTAL)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024