PETROTAL CORPORATION

PetroTal Corp is a heavy oil producer focused on the Bretana oil field in the Marañon Basin in northern Peru. The company produces heavy crude oil which it sells to refineries in Peru and most recently, Brazil.

PetroTal's flagship Bretana oil field which covers roughly 6,000 hectares in Block 95 in the Marañon Basin and is produced from the Vivian reservoir. As of December 2022, PetroTal had 97 million barrels of reserves and is guided to grow this to 14,500 barrels of oil per day (bopd) from Bretana by end of 2023.

In addition to the producing Bretana field, PetroTal also holds a 100% interest in the exploration Block 107 to the north and operated block with >252,000 hectares with total ending cash in 2032 of ~1.2 billion at minimum cash levels acceptable under $80/bbl Brent scenario.

PetroTal has approximately $1.1 billion in 2P discretionary after tax free funds flow available and $1.9 billion in 3P discretionary free funds flow after returning $70 million/year to shareholders. The company has a goal of significantly growing reserves and production from Bretana over the next decade, and is also advancing Block 107 to test the exploration potential.

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