PetroTal Announces Q3 2024 Dividend Payment & Grant of Performance Share Units for Dividend Equivalents

Calgary, Alberta and Houston, Texas--(Newsfile Corp. - September 16, 2024) - PetroTal Corp. (TSX: TAL) (AIM: PTAL) (OTCQX: PTALF) ("PetroTal" or the "Company") is pleased to confirm its Q3 2024 dividend payment, along with the grant of performance share units ("PSUs") to employees and officers of the Company, in accordance with the Company's performance and restricted share unit plan.

Q3 2024 Dividend Payment

As previously announced on August 8, 2024, the Company confirms that a dividend payment of US$0.015/share was paid on September 13, 2024 to shareholders on record as of August 30, 2024. This equates to a 12.8% annualized dividend yield, based on a US$0.47/share trading price. Shareholders should confirm with their brokers to verify their ownership status on August 30, 2024.

Issuance of Dividend Equivalent PSUs

In accordance with PetroTal's PSU plan, the Company's September 13, 2024 dividend distribution resulted in an additional 546,053 PSUs being issued, of which 359,990 were to Officers. The remaining 186,063 PSUs were issued to employees, and will vest according to their original grant date.

Manuel Pablo Zuniga-Pflucker	President and CEO	281,167
Camilo McAllister	Executive Vice President and CFO	14,480
Jose Contreras	Chief Operating Officer	58,703
Sudan Maccio	Chief Legal Counsel	5,640

 

The Company has a total of 17,411,838 PSUs outstanding.

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 Bretana 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 the Bretana oil field. It is actively building new initiatives to champion community sensitive energy production, benefiting all stakeholders.