PetroTal Sees 3% Boost in Oil Production Ahead of Schedule

PetroTal Corp., a Calgary-based oil and gas development company, provided an operations update on September 7, 2026. The company's group production averaged 13,181 barrels of oil per day (bopd) year-to-date, beating internal budget expectations by about 3%.

PetroTal's President and Chief Executive Officer, Manuel Pablo Zuniga-Pflucker, commented on the update: 'PetroTal's operations team continues to execute at a high level. Year-to-date production is running approximately 3% ahead of budget, supported by contributions from our recent pulling campaign, which was completed on time, on budget, and without any safety incidents.'

The company reported that its Bretana development drilling campaign will resume in October, with the Estrella drilling rig already on location. PetroTal also announced that it has executed an amendment to the Block 131 License Contract with Perupetro, which reduces royalties on incremental production from 23.5% to a sliding scale of 5%, 9%, and 15% tied to the applicable Basket Price.

The new royalty framework applies to about 60% of the field's current production, while the remaining 40% will stay at the original royalty rate. PetroTal has committed to drill two new wells at Block 131 in the next two years as part of the agreement, and if these wells are not drilled within that timeframe, the royalty for all production will revert to the original 23.5%.