Petrotal Corp Stock Price, News & Analysis

PetroTal Corp (TSX: TAL, AIM: PTAL, OTCQX: PTALF) has announced the appointment of Denisse Abudinen as a new independent, non-executive Director, effective immediately. Ms. Abudinen, currently Vice President of Low Carbon Global Market Development at Methanex , brings extensive experience in oil and gas, renewable energy, and petrochemical industries.

Abudinen's background includes serving as CEO of ENAP Sipetrol (Egypt) and various senior positions at ENAP, where she managed operations across Argentina, Ecuador, Egypt, and Chile. She holds degrees in Civil Industrial Engineering and Business from Pontificia Universidad Catolica de Chile, and a Master's in International Management from King's College London.

The company also announced its 2025 Annual General Meeting scheduled for June 19, 2025, at 10:00am MT/16:00 UK time. Management Information Circular and Proxy Statement will be available by May 9, 2025.

PetroTal Corp (PTALF) reported strong Q1 2025 operational results with group production averaging 23,280 barrels of oil per day (bopd), including contributions from Block 131. The Bretana field achieved a record quarterly production of 22,660 bopd, marking a 17% increase from Q4 2024 and 22% from Q1 2024.

The company maintained a stable financial position with total cash of $114 million as of March 31, 2025. Well performance has been impressive, with Well 23H producing an average of 3,363 bopd in March 2025 and reaching a peak of 5,110 bopd. Well 22H averaged 4,386 bopd in March 2025.

PetroTal has implemented hedging strategies, with costless collars covering 40% of forecast 2025 production at a Brent floor price of $65.00/bbl and a ceiling of $82.50/bbl, with a cap of $102.50/bbl. The hedges had a present value of approximately $11 million as of April 7.

PetroTal Corp (TSX: TAL, AIM: PTAL, OTCQX: PTALF) has announced a modification to its normal course issuer bid (NCIB) share buyback program. The key change allows the company to either cancel purchased shares or temporarily hold them in treasury for employee share awards. This amendment follows the NCIB renewal announcement made on May 22, 2024, with all other aspects of the program remaining unchanged.

PetroTal Corp. (PTALF) reported strong Q4 and full-year 2024 results, with production exceeding guidance. Q4 2024 saw average sales of 19,087 bopd and production of 19,142 bopd, while FY 2024 achieved 17,558 bopd in sales and 17,785 bopd in production, marking a 25% increase from 2023.

Financial highlights include:

• EBITDA of $40.2 million in Q4 and $237 million in FY 2024
• Development capex of $50.6 million in Q4 and $163 million in FY 2024
• Annual free funds flow of $74.1 million
• Available cash of $103 million at year-end 2024

The company paid its eighth consecutive quarterly dividend of $0.015/share in March 2025. Total shareholder returns in 2024 included $0.06/share in dividends and 11.3 million shares repurchased, totaling approximately $65 million. YTD 2025 production has averaged 23,200 bopd, with strong performance from newly drilled wells.

PetroTal Corp (TSX: TAL, AIM: PTAL, OTCQX: PTALF) has declared a Q1 2025 cash dividend of USD $0.015 per common share, based on Q4 2024 financial results. The dividend payment schedule is as follows: Ex-Dividend date for AIM is February 27, 2025, Ex-Dividend date for TSX is February 28, 2025, Record date is February 28, 2025, and Payment date is March 14, 2025.

The dividend qualifies as an eligible dividend under the Income Tax Act (Canada). The company notes that future dividends may fluctuate according to their return of capital policy. International shareholders are advised to consult their brokers regarding appropriate tax election forms.

PetroTal Corp. has announced its 2024 year-end reserve evaluation results, showing significant growth in reserves and value. The company reported 1P and 2P reserves of 67.1 million and 113.7 million barrels of oil respectively, achieving replacement rates of 293% for 1P and 208% for 2P reserves.

Key highlights include a 68% year-over-year increase in PDP reserve value per share to $0.89, and extended reserve life indices of 7.0 years for PDP and 10.3 years for 1P reserves. The Bretana field's original oil in place (OOIP) estimate increased to 494 million barrels in the 2P case, up from 329 million barrels at inception.

The company's growth is attributed to an active development drilling program in 2024, with 7 development wells completed compared to 3 in 2023. The Los Angeles field (Block 131) contributed an additional 13 million barrels of OOIP and 1.5 million barrels of 2P reserve additions based on updated seismic interpretation.

PetroTal Corp has announced its 2025 guidance, targeting average production of 21,000-23,000 barrels of oil per day, representing a 24% increase from 2024. The company plans a $140 million capital investment, down 14% from 2024, and targets annual EBITDA of $240-250 million at $75.00 Brent.

Key components include: $55 million for drilling activities with four development wells, $60 million for field infrastructure at Bretana, and $36.5 million for erosion control measures. The company will maintain its quarterly dividend of $0.015/share and expects to generate approximately $240-250 million Adjusted EBITDA, a 6% increase compared to 2024, despite allocating $30 million to non-recurring erosion control expenses.

The guidance assumes similar dry season conditions to 2023 and plans for 10-15% of crude oil volumes to be delivered to the Iquitos Refinery, with the remainder going through the Brazil export route.