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PETROTAL CORP ORD (PTALF) is a publicly traded oil and gas development and production company located in Calgary, Alberta. With a strong focus on developing oil assets in Peru, PetroTal's flagship asset is the Bretana oil field in Peru's Block 95. The company has experienced significant growth, achieving a 20% average daily production increase in 2023 and a 17% return on capital employed. PetroTal's 2024 budget includes plans for continued growth, operational improvements, and stable return of capital program.
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PetroTal Corp. (PTALF) reports a 23% increase in production Quarter over Quarter, reaching 18,518 bopd in Q1 2024. The company maintains a strong cash position with $63 million in unrestricted cash as of March 31, 2024. Operational updates include successful drilling activities and progress in erosion control measures. PetroTal plans to host a webcast for its Q1 2024 results on May 9, 2024.
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PetroTal Corp. issues 1,323,473 Common Shares to employees as part of the annually vested performance share unit plan, following the achievement of 2023 KPIs. The Company now has a total of 11,383,283 PSUs outstanding. Application will be made for the admission of these shares to trading on AIM, with an expected effective date of April 11, 2024.
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PetroTal Corp. reports strong financial performance in Q4 2023 and 2023, with average production growth of 17% and a 30% return on capital employed. The company generated $91 million in free funds flow, returned over $61 million to shareholders, and maintained a robust cash position. Despite challenges due to dry season conditions, PetroTal achieved market guidance and exited 2023 with a production of approximately 20,000 bopd. The company's strong balance sheet positions it well for future growth opportunities.
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PetroTal Corp. announces the payment of a $18.4 million dividend to shareholders on March 15, 2024, equating to a 13.9% annualized yield. The Company also granted performance share units (PSUs) to employees and officers. PetroTal will host a webcast for its Q4 2023 and 2023 full-year results on March 21, 2024.
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PetroTal Corp. announces a dividend declaration of USD$0.02/share payable on March 15, 2024, based on Q4 2023 results and January 2024 liquidity test. The dividend represents a 15% annualized yield and includes a recurring amount plus a minimum liquidity sweep. The dividend timetable includes an ex-dividend date of February 28, 2024, a record date of February 29, 2024, and a payment date of March 15, 2024. Shareholders should be aware of potential fluctuations in the excess liquidity sweep portion of future dividends.
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PetroTal Corp. reports strong financial and operational results in its 2023 year-end reserve evaluation. Key highlights include 1P and 2P reserve increases, 1P and 2P reserves replacement ratios, and 2P after-tax NPV-10 value. The company's market capitalization is at a discount to its PDP after-tax NPV-10 valuation, despite making significant shareholder distributions and remaining debt-free. The Bretana oil field's reserves have seen substantial growth, with a focus on increasing value for stakeholders and delivering free cash flow for the next 20 years.
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PetroTal Corp. announces its fully funded 2024 budget, projecting average production and sales of 17,000 bopd with a 20% year-on-year increase. The company aims to achieve funds flow of $160 million and free funds flow of $25 million, targeting a ~12% return from dividends and buybacks prior to liquidity sweeps. The PR details the 2024 budget and drilling highlights, including investment in the Bretana oilfield, a two-year seismic program, and commercializing new oil sales routes. The company also provides guidance on production, sales, opex, dividends, and share buybacks.
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PetroTal Corp. (TAL) announces an average production of 14,865 bopd in Q4 2023, with December 2023 production at 20,090 bopd. The company has a cash liquidity of $90 million as of December 31, 2023. PetroTal has completed the installation of the L2 West Platform and drilled its first horizontal well. The company is working on obtaining authorization for an alternative sales route and will be announcing its 2024 budget and guidance on January 22, 2024.
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PetroTal Corp. (TAL) issues 6,959,115 Common Shares to employees as part of the performance share unit plan. The shares will be admitted to trading on AIM on or around January 10, 2024.
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PetroTal Corp. (TAL) paid a dividend of $18.4 million to shareholders on December 15, 2023. The dividend equates to a 13.3% annualized yield based on a US$0.60/share trading price. The Company also announced the grant of performance share units (PSUs) to employees and officers, totaling 688,010 PSUs, with 520,655 PSUs issued to Officers and 167,355 PSUs issued to employees. PetroTal has a total of 20,801,920 PSUs outstanding.
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FAQ
What is the current stock price of Petrotal (PTALF)?
The current stock price of Petrotal (PTALF) is $0.45874 as of March 3, 2025.
What is the market cap of Petrotal (PTALF)?
The market cap of Petrotal (PTALF) is approximately 438.1M.
Where is PETROTAL CORP ORD headquartered?
PETROTAL CORP ORD is headquartered in Calgary, Alberta.
What is PETROTAL CORP ORD's flagship asset?
PETROTAL CORP ORD's flagship asset is the Bretana oil field in Peru's Block 95.
What was the production growth rate achieved by PETROTAL CORP ORD in 2023?
PETROTAL CORP ORD achieved a 20% average daily production increase in 2023.
What is PETROTAL CORP ORD's 2024 budget focused on?
PETROTAL CORP ORD's 2024 budget includes plans for continued growth, operational improvements, and stable return of capital program.
What is the return on capital employed for PETROTAL CORP ORD in 2023?
In 2023, PETROTAL CORP ORD achieved a 17% return on capital employed.
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