Petrotal produces 18,414 bopd in Q3 2025

Mr. Manuel Zuniga-Pflucker reports PETROTAL ANNOUNCES Q3 2025 OPERATIONS AND FINANCIAL UPDATES Petrotal Corp. has provided the following operational and financial updates. All amounts are in U.S. dollars unless stated otherwise. Key highlights: Group production averaged 18,414 barrels of oil per day in Q3 2025, a 21-per-cent increase over Q3 2024; 2025 year-to-date production has averaged 20,894 bopd, also a 21-per-cent increase over the first nine months of 2024; Paid a regular quarterly dividend of 1.5 cents per share on Sept. 12, 2025, bringing year-to-date returns of capital to shareholders to approximately $45-million; Total cash of $141.5-million as of Sept. 30, 2025, of which $108.8-million is unrestricted. Manuel Pablo Zuniga-Pflucker, president and chief executive officer, commented: "Petrotal's preliminary Q3 results show that the company continues to deliver steady YoY [year-over-year] 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, preparing to replace the faulty tubing. We look forward to providing additional updates on our development program with the release of our full Q3 2025 financials on Nov. 13." Q3 2025 production and operations update Petrotal's group production averaged 18,414 bopd in Q3 2025, including 17,938 bopd from the Bretana field (Block 95; Petrotal 100-per-cent working interest) and 476 bopd from the Los Angeles field (Block 131; Petrotal 100-per-cent working interest). Bretana field production decreased by approximately 2,600 bopd relative to the prior quarter but increased approximately 2,800 bopd relative to the same period last year. Meanwhile, Los Angeles field production declined by approximately 50 bopd compared with Q2 2025. Petrotal's cumulative annual production through Sept. 30, 2025, amounted to just over 5.7 million barrels, approximately 21 per cent higher than the first nine months of 2024. As disclosed previously on Sept. 22, 2025, the Bretana field has been producing below capacity since mid-August, due to leaks in production tubing, which have necessitated the shut-in of five producing wells. As a result, corporate production during the first 10 days of October has averaged approximately 16,000 bopd. Responding to the production downtime, Petrotal mobilized a service rig from Block 131 to Bretana in the first week of October and will begin a pulling campaign to restore production from shut-in wells by the end of the month. The company will also pro-actively replace electric submersible pumps in several wells as a preventive measure to mitigate against potential future downtime. Bretana field production is expected to ramp up throughout the months of November and December as the shut-in wells are returned to production. At this point, there is no change to Petrotal's 2025 annual average production guidance of 20,000 to 21,000 bopd, most recently updated with Q2 2025 results on Aug. 7, 2025. Also at Bretana, the erosion control project is well under way. Petrotal's contracted construction consortium has installed a jack-up rig in front of the village of Bretana, where it is currently engaged in piling operations for the first of five breakwaters. Petrotal is also finalizing preparations to import its owned drilling rig to Peru during the first quarter of 2026, with development drilling operations expected to resume at Bretana in Q2 2026. At the Los Angeles field, Petrotal executed a workover campaign during the month of September. The company is currently evaluating the results and will provide additional updates on the future course of action as necessary. Cash and liquidity update Petrotal ended Q3 2025 with a total cash position of $141.5-million, of which approximately $108.8-million was unrestricted. This compares with unrestricted cash of $99.3-million at the end of Q2 2025 and $121-million at the same time last year. Of the approximately $32.7-million that Petrotal carried as restricted cash on Sept. 30, 2025, approximately $25.2-million was related to the escrow account of the Cofide loan, as previously announced on May 12, 2025. As of Sept. 30, 2025, Petrotal's unaudited accounts payable and receivable were approximately $51.9-million and $56.6-million, respectively (versus comparable values of $57-million and $66-million as of June 30, 2025, respectively). Petrotal did not initiate any new production hedges during Q3 2025. As of Oct. 7, 2025, the company maintains hedges on approximately one million barrels over the period from Oct. 1, 2025, to March 30, 2026. Consistent with prior disclosure, the costless collars have a Brent floor price of $65 per barrel and a ceiling of $82.50 per barrel, with a cap of $102.50 per barrel. As of Oct. 7, 2025, Petrotal's production hedges had a present value of approximately $3.2-million. Corporate presentation update The company has updated its corporate presentation, available for download or viewing on Petrotal's website. Q3 2025 webcast on Thursday, Nov. 13, 2025 Petrotal's management team will host a webcast to discuss its Q3 2025 results on Thursday, Nov. 13, 2025, at 9 a.m. CT (Houston) and 3 p.m. BST (London). About Petrotal Corp. Petrotal is a publicly traded, triquoted oil and gas development and production company domiciled in Calgary, Alta., focused on the development of oil assets in Peru. Petrotal's flagship asset is its 100-per-cent working interest in the Bretana 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. We seek Safe Harbor.