Calgary, AB and Houston, TX – September 18, 2023 – PetroTal Corp. (“PetroTal” or the “Company”) (TSX: TAL, AIM: PTAL and OTCQX: PTALF), announces that, in accordance with the terms of its share buyback programme announced on 16 May 2023, it has purchased the following number of common shares of no par value each in the capital of the Company (“Common Shares”) through Stifel Nicolaus Europe Limited (“Stifel”). The repurchased shares will be cancelled.
| Date of purchase: | 15 September 2023 | ||
| AIM | TSX | Total | |
| Aggregate number of Common Shares purchased: | 68,277 | 68,277 | 136,554 |
| Lowest price paid per Common Share: | 47.775 pence | 0.800 CAD | |
| Highest price paid per Common Share: | 47.775 pence | 0.800 CAD | |
| Volume weighted average price paid per Common Share: | 47.775 pence | 0.800 CAD | |
Following the cancellation of the repurchased shares, the Company will have no Common Shares in treasury and 917,151,025 Common Shares (excluding treasury shares) of no par value each in issue. Therefore, the total voting rights in the Company will be 917,151,025.
The figure of 917,151,025 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.
In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation) as in force in the UK by virtue of the European Union (Withdrawal) Act 2018, the table below contains detailed information of the individual trades made by Stifel as part of the buyback programme.
Schedule of purchases:
| Common Shares purchased: | PetroTal Corp. (ISIN: CA71677J1012) |
| Date of purchases: | 15 September 2023 |
| Investment firm: | Stifel Nicolaus Europe Limited |
Individual transactions:
| Transaction date and time | Number of shares purchased | Transaction price | Trading venue |
| 15 September 2023, 02:30 PM BST | 68,277 | 47.775 pence | OMAR |
| 15 September 2023, 02:47 PM EST | 33,500 | 0.800 CAD | TOR |
| 15 September 2023, 02:47 PM EST | 16,000 | 0.800 CAD | OMG |
| 15 September 2023, 02:47 PM EST | 9,500 | 0.800 CAD | OMG |
| 15 September 2023, 02:47 PM EST | 6,500 | 0.800 CAD | OMG |
| 15 September 2023, 02:47 PM EST | 2,500 | 0.800 CAD | OMG |
| 15 September 2023, 02:47 PM EST | 277 | 0.800 CAD | TRI |
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 Zúñiga
President and Chief Executive Officer
Mzuniga@PetroTal-Corp.com
T: (713) 609-9101
PetroTal Investor Relations
InvestorRelations@PetroTal-Corp.com
Celicourt CommunicationsMark 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
The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No. 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.