PetroTal Announces Q3 2025 Operations and Financial Updates

Executive Summary

• Group production rose to an average of 18,414 bopd in Q3 2025, a 21% YoY increase and consistent with the company’s guidance of 20,000‑21,000 bopd annualized.
• Cash balance reached $141.5 million (≈ $108.8 million unrestricted) at quarter‑end, up from $99.3 million unrestricted in Q2 2025.
• The company paid a regular quarterly dividend of $0.015 per share, returning roughly $45 million to shareholders YTD and reaffirmed its 2025 production guidance despite temporary downtime at the Bretana field.

Key Details

• Production Highlights
• Q3 2025 average: 18,414 bopd (17,938 bopd from Bretana; 476 bopd from Los Angeles).
• YTD (first nine months) average: 20,894 bopd, +21% vs. same period 2024.
• Cumulative production through Sep‑30: ≈5.7 million barrels (≈21% higher YoY).
• Bretana field down ~2,600 bopd vs. prior quarter due to tubing leaks; up ~2,800 bopd vs. Q3 2024.

• Los Angeles field down ~50 bopd vs. Q2 2025.

• Operational Actions

• Service rig mobilized from Block 131 to Bretana (first week Oct) – pulling campaign to restore five shut‑in wells by month‑end.
• Planned replacement of electric submersible pumps in several wells as preventative measure.
• Erosion control project: jackup rig installed; piling for first of five breakwaters underway.
• Importing owned drilling rig to Peru scheduled for Q1 2026; development drilling at Bretana expected to resume Q2 2026.

• Los Angeles field workover campaign completed in September; results under review.

• Cash & Liquidity

• Total cash: $141.5 million (unrestricted $108.8 million, restricted $32.7 million).
• Restricted cash includes ≈$25.2 million escrow for COFIDE loan.
• Accounts payable: ≈$51.9 million; accounts receivable: ≈$56.6 million (down from $57 M / $66 M at June‑30).

• No new production hedges in Q3; existing costless collars cover ~1 MMbbl (Oct 2025–Mar 2026) with floor $65/b, ceiling $82.50/b, cap $102.50/b; present value ≈ $3.2 million.

• Dividends

• Quarterly dividend paid on Sep 12: $0.015 per share, totaling ~$45 million YTD to shareholders.

• Guidance & Outlook

• No change to 2025 annual average production guidance of 20,000‑21,000 bopd.

• Full Q3 2025 financial results to be released on Nov 13 2025 (webcast at 9:00 am CT / 3:00 pm BST).

• Corporate Presentation

• Updated corporate presentation now available at www.petrotalcorp.com.

Notable Quotes

“PetroTal's preliminary Q3 results show that the Company continues to deliver steady YoY production growth, even though the Bretana field has been producing below capacity for a substantial portion of the third quarter. I am confident that our technical team has addressed the root cause of the previously disclosed leaks in our production tubing and am pleased to report that a service rig is already back on site….” – Manuel Pablo Zuniga‑Pflucker, President & CEO.