Petrotal Corp Stock Price, News & Analysis

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.

PetroTal Corp reported strong Q4 2024 performance with corporate production averaging 19,150 bopd, including newly acquired Block 131. The Bretana field achieved 18,938 bopd in Q4 2024, marking a 27% increase from Q4 2023. The company's 2024 annual production averaged 17,733 bopd, exceeding guidance of 16,500-17,500 bopd and showing a 24% increase from 2023.

The company ended 2024 with total cash of $115 million, a 3% increase from Q4 2023. PetroTal secured two Technical Evaluation Agreements surrounding Block 131 in Peru and obtained an extension for Block 107's exploration period until February 2027.

Recent drilling activities include the completion of well 21H, which initially produced 7,144 bopd, and well 22H completed within budget at $12.0 million. Well 23H was spudded in December 2023 with expected completion by end of January 2025.

PetroTal Corp (TSX: TAL, AIM: PTAL, OTCQX: PTALF) has confirmed its Q4 2024 dividend payment of US$0.015 per share, paid on December 13, 2024, to shareholders of record as of November 29, 2024. The dividend represents a 14.6% annualized yield based on a US$0.41 share price.

Additionally, the company issued 724,842 Performance Share Units (PSUs) as dividend equivalents, with 436,641 PSUs allocated to Officers and 288,201 to employees. Following this issuance, PetroTal has a total of 18,334,602 PSUs outstanding.

PetroTal Corp. (PTALF) has completed the acquisition of a 100% working interest in Peru's Block 131 through the purchase of CEPSA Peru. The Los Angeles field at Block 131 has averaged 817 barrels of light oil per day from January to September 2024, with facilities capable of handling up to 5,500 bopd. The field produces 45°API light oil and has estimated Proved reserves of 2.0 million barrels and Proved plus Probable reserves of 4.2 million barrels. The block operates under a license agreement until 2038 with a 23.48% royalty rate for production under 5,000 bopd. The acquisition aims to diversify PetroTal's production base and create synergies with existing Block 95 operations.

PetroTal Corp. (TSX: TAL) has issued a correction to its Q4 2024 dividend payment timetable. The company clarified that the Ex-Dividend date was incorrectly stated as November 28, 2024, in its previous release. For TSX-listed companies, the Ex-Dividend date and Record date must be the same day. The corrected dividend payment schedule includes: Ex-Dividend and Record date on November 29, 2024, with Payment date on December 13, 2024. The cash dividend remains at USD$0.015 per common share, representing a 13% annualized yield based on current share price.

PetroTal Corp reported Q3 2024 financial results with average sales of 14,760 bopd and production of 15,203 bopd, representing a 39% increase from the same period last year. The company generated EBITDA of $47.5 million and free funds flow of $6.5 million. Q3 net income was $7.2 million ($0.01/share), marking the 19th consecutive profitable quarter. The company exited Q3 with $133 million in total cash ($121 million unrestricted) and declared a dividend of $0.015/share payable December 13, 2024. Capital expenditures totaled $43.0 million, primarily for drilling wells 5WD and 20H. The company maintains its 2024 production guidance of 16,500-17,500 bopd.

PetroTal Corp. (TSX: TAL) (AIM: PTAL) (OTCQX: PTALF) has released its Q3 2024 operations and liquidity update. Key highlights include:

• Q3 production averaged 15,160 bopd, a 39% increase from Q3 2023
• 2024 annual production on track to meet top end of guidance range
• Total cash of $133 million as of September 30, 2024, an 18% increase from Q3 2023
• Well 20H achieved initial production rates over 5,300 bopd
• President of Peru granted Supreme Decree for transfer of Block 131 to PetroTal

The company maintained strong liquidity throughout Q3 2024, with $121 million in unrestricted cash. PetroTal also entered a hedge agreement and continued its share buyback program. The acquisition of Block 131 is nearing completion, awaiting final regulatory approval.