PetroTal Announces Appointment of New Director and Provides Notice of Annual General Meeting

Rhea-AI Summary

PetroTal Corp (TSX: TAL, AIM: PTAL, OTCQX: PTALF) has announced the appointment of Denisse Abudinen as a new independent, non-executive Director, effective immediately. Ms. Abudinen, currently Vice President of Low Carbon Global Market Development at Methanex , brings extensive experience in oil and gas, renewable energy, and petrochemical industries.

Abudinen's background includes serving as CEO of ENAP Sipetrol (Egypt) and various senior positions at ENAP, where she managed operations across Argentina, Ecuador, Egypt, and Chile. She holds degrees in Civil Industrial Engineering and Business from Pontificia Universidad Catolica de Chile, and a Master's in International Management from King's College London.

The company also announced its 2025 Annual General Meeting scheduled for June 19, 2025, at 10:00am MT/16:00 UK time. Management Information Circular and Proxy Statement will be available by May 9, 2025.

Positive

• Appointment of experienced director with global oil and gas industry expertise
• New director brings low carbon and renewable energy experience
• Addition of director with significant Latin American market knowledge

Negative

• None.

Calgary, Alberta and Houston, Texas--(Newsfile Corp. - April 25, 2025) - PetroTal Corp. (TSX: TAL) (AIM: PTAL) (OTCQX: PTALF) ("PetroTal" or the "Company") is pleased to announce the appointment of Ms. Denisse Abudinen to its Board of Directors, effective immediately. Ms. Abudinen will join PetroTal's existing Directors in standing for re-election at the Company's annual general meeting, which has been scheduled for June 19, 2025.

Background on Denisse Abudinen

Denisse Abudinen joins PetroTal as an independent, non-executive Director. She has a deep background in the global oil and gas, renewable energy, and petrochemical industries, having served in senior executive leadership roles around the world. Ms. Abudinen is currently the Vice President of Low Carbon Global Market Development for Methanex Corporation, based in Vancouver, Canada. Prior to joining Methanex, Ms. Abudinen was the Chief Executive Officer of ENAP Sipetrol (Egypt) in Cairo, Egypt. She began her professional career with ENAP (the Chilean National Oil Company) in 2007, graduating through progressively senior positions in the Exploration and Production business, including Head of Corporate Strategy and Business Development, and Head of the Upstream Business with operations in Argentina, Ecuador, Egypt and Chile. Ms. Abudinen has also worked with McKinsey and Company, based out of the firm's Mexico City office as a Senior Client Development Advisor (LATAM).

Ms. Abudinen holds degrees in Civil Industrial Engineering (2006) and Business (2007) from the Pontificia Universidad Catolica de Chile, and a Master's degree in International Management (2012) from King's College London.

Manuel Pablo Zuniga-Pflucker, President and Chief Executive Officer, commented:

"I would like to join my fellow directors in extending a warm welcome to Denisse Abudinen. She brings a wealth of experience in the global oil and gas industry, that will strengthen our leadership as PetroTal focuses on executing its growth and development strategy."

Notice of Annual General Meeting

PetroTal is pleased to announce its 2025 annual general meeting of shareholders ("AGM") will be held on June 19, 2025 at 10:00am MT/16:00 UK time. The Company's Management Information Circular and Proxy Statement in respect of the AGM is expected to be filed on www.sedarplus.ca and the Company's website (www.petrotalcorp.com) by May 9, 2025. Interested attendees will be able to join the meeting using the virtual link below.

meetnow.global/MF46HLN

Further information on Denisse Abudinen's appointment

The following details in relation to the appointment of Denisse Abudinen to the Board are disclosed in accordance with AIM Rule 17 and Schedule 2(g) of the AIM Rules for Companies.

Denisse Andrea Abudinen Butto (aged 43) has held the following directorships and/or partnerships in the past five years

Current Directorships/Partnerships	Former Directorships/Partnerships (last 5 years)
Fundación San Augustin Ingenieria Civil	Compañía Latinoamericana Petrolera AS
Renewal Consulting Group	ENAP Sipetrol Argentina SA
	Petroshad

 
Ms. Abudinen has no direct or indirect interest in the Company's share capital.

Other than the information contained within this announcement, there is no further information required to be disclosed pursuant to AIM Rule 17 or Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

ABOUT PETROTAL

PetroTal is a publicly traded, tri‐quoted (TSX: TAL) (AIM: PTAL) (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 the Bretaña Norte 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 its portfolio of assets. 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.sedarplus.ca, or below:

Camilo McAllister
Executive Vice President and Chief Financial Officer
Cmcallister@PetroTal-Corp.com
T: (713) 253-4997

Manolo Zuniga
President and Chief Executive Officer
Mzuniga@PetroTal-Corp.com
T: (713) 609-9101

PetroTal Investor Relations
InvestorRelations@PetroTal-Corp.com

Celicourt Communications
Mark 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

READER ADVISORIES

FORWARD-LOOKING STATEMENTS: This press release contains certain statements that may be deemed to be forward-looking statements. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "believe", "expect", "plan", "estimate", "potential", "will", "should", "continue", "may", "objective", "intend" and similar expressions. The forward-looking statements provided in this press release are based on management's current belief, based on currently available information, as to the outcome and timing of future events. The forward-looking statements are based on certain key expectations and assumptions made by the Company, including, but not limited to, expectations and assumptions concerning the ability of existing infrastructure to deliver production and the anticipated capital expenditures associated therewith, the ability to obtain and maintain necessary permits and licenses, the ability of government groups to effectively achieve objectives in respect of reducing social conflict and collaborating towards continued investment in the energy sector, reservoir characteristics, recovery factor, exploration upside, prevailing commodity prices and the actual prices received for PetroTal's products, including pursuant to hedging arrangements, the availability and performance of drilling rigs, facilities, pipelines, other oilfield services and skilled labour, royalty regimes and exchange rates, the impact of inflation on costs, the application of regulatory and licensing requirements, the accuracy of PetroTal's geological interpretation of its drilling and land opportunities, current legislation, receipt of required regulatory approval, the success of future drilling and development activities, the performance of new wells, future river water levels, the Company's growth strategy, general economic conditions and availability of required equipment and services. PetroTal cautions that forward-looking statements relating to PetroTal are subject to all of the risks, uncertainties and other factors, which may cause the actual results, performance, capital expenditures or achievements of the Company to differ materially from anticipated future results, performance, capital expenditures or achievement expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those set forth in the forward-looking statements include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses; and health, safety and environmental risks), business performance, legal and legislative developments including changes in tax laws and legislation affecting the oil and gas industry and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures, credit ratings and risks, fluctuations in interest rates and currency values, changes in the financial landscape both domestically and abroad, including volatility in the stock market and financial system, wars (including Russia's war in Ukraine and the Israeli-Hamas conflict), regulatory developments, commodity price volatility, price differentials and the actual prices received for products, exchange rate fluctuations, legal, political and economic instability in Peru, access to transportation routes and markets for the Company's production, changes in legislation affecting the oil and gas industry, changes in the financial landscape both domestically and abroad (including volatility in the stock market and financial system) and the occurrence of weather-related and other natural catastrophes. Readers are cautioned that the foregoing list of factors is not exhaustive. Please refer to the annual information form for the year ended December 31, 2024 and the management's discussion and analysis for the three months ended December 31, 2024 for additional risk factors relating to PetroTal, which can be accessed either on PetroTal's website at www.petrotal-corp.com or under the Company's profile on www.sedarplus.ca. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

OIL REFERENCES: All references to "oil" or "crude oil" production, revenue or sales in this press release mean "heavy crude oil" as defined in National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101").

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249719

FAQ

What experience does PetroTal's new director Denisse Abudinen bring to PTALF?

Denisse Abudinen brings extensive experience in global oil and gas, renewable energy, and petrochemicals, including roles as VP of Low Carbon Global Market Development at Methanex and CEO of ENAP Sipetrol Egypt.

When is PetroTal's (PTALF) 2025 Annual General Meeting?

PetroTal's 2025 Annual General Meeting is scheduled for June 19, 2025, at 10:00am MT/16:00 UK time.

What are Denisse Abudinen's current roles besides PetroTal (PTALF)?

Denisse Abudinen currently serves as Vice President of Low Carbon Global Market Development for Methanex and holds directorships at Fundación San Augustin Ingenieria Civil and Renewal Consulting Group.

What educational background does PetroTal's new director have?

She holds degrees in Civil Industrial Engineering (2006) and Business (2007) from Pontificia Universidad Catolica de Chile, and a Master's in International Management (2012) from King's College London.