PetroTal Exceeds Budget Expectations with Q3 2026 Production Update

PetroTal Corp., an oil and gas development company based in Calgary, Alberta, has provided its operational update for Q3 2026. According to Manuel Pablo Zuniga-Pflucker, President and Chief Executive Officer, PetroTal's operations team is executing at a high level.

Year-to-date production averaged 13,181 barrels of oil per day (bopd), approximately 3% ahead of internal budget expectations. This increase in production is attributed to the recent pulling campaign at the Bretana field, where production tubing and electric submersible pumps were replaced in five wells.

The company has also executed an agreement with Perupetro to modify the Block 131 License Contract, establishing a new royalty regime for incremental production at the Los Angeles field. The new framework will assess royalties on qualifying incremental production from the producing Cushabatay formation on a price-sensitive sliding scale of 5%, 9%, and 15%.

The Bretana Erosion Control Project is still ongoing, with PetroTal evaluating proposals to reinitiate construction activities. The company has secured the necessary equipment, including a jack-up rig and service barges, and is proceeding methodically with the new tender process to select the right contractor and project scope.