Presentation

PetroTal is an independent E&P company focused on Peru. The company is listed in Canada and London. Since the listing in 2017, PetroTal has successfully developed the Bretaña oil field, ahead of time and below budget. The field is currently producing around 11,000 bbl/day, with 51 mill bbl of 2P reserves.

The Bretaña field was discovered by Gran Tierra in 2013 and transferred to PetroTal in late 2017. The company achieved first oil in June 2018, only six months following the acquisition and 25% below the initial budget. Since then, the company has delivered a 23% growth in 2P reserves (as of YE’19) driven by better than expected production. The company targets an increase in production from 11,000 bbl/day to >15,000 bbl/day in 2021-22 driven by the drilling of eight more production wells.

The company has proven its ability to transport and sell crude oil at attractive prices in the international market. Further, in addition to several exploration prospects, PetroTal is currently engaged in finding a partner for drilling the Osheki Prospect in Block 107.