PetroTal Announces Suspension of Quarterly Dividend

Calgary, Alberta and Houston, Texas--(Newsfile Corp. - November 13, 2025) - PetroTal Corp. (TSX: TAL) (AIM: PTAL) (OTCQX: PTALF) ("PetroTal" or the "Company") announces that its Board of Directors has decided to suspend the Company's regular quarterly dividend, until further notice. All amounts herein are in United States dollars unless stated otherwise.

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

"While PetroTal's financial and operational results remain strong, as evidenced by the Q3 2025 results which we also published today, the Company is facing a number of challenges as we finalize our 2026 budget. Most notably, we continue to experience delays in the resumption of our development drilling program, and as a result our production volumes are expected to decline throughout H1 2026. The updated production forecast, combined with weaker oil prices, is limiting our ability to fund both an adequate development program and return capital to shareholders.

After considering the preliminary 2026 outlook over the past few weeks, PetroTal's Board of Directors has made the difficult decision to suspend our regular quarterly dividend for the time being. As a significant shareholder myself, I would like to assure investors that this decision was not taken lightly; we are evaluating all options to preserve liquidity, as we work to resume our development drilling program as quickly as possible. PetroTal intends to provide more detailed guidance in January 2026, once the development program and associated production forecast are finalized. We thank our shareholders for their ongoing support."

Preliminary 2026 Outlook

As disclosed with Q2 2025 results on August 7, PetroTal is actively optimizing the long-term Bretana field development plan, to account for a variety of factors including sustained lower oil prices, regulatory considerations, and delays in resuming our development drilling program. At this point, PetroTal believes the best-case timing to resume drilling at Bretana is mid-year 2026. Given that PetroTal does not currently expect to generate any material organic production additions in H1 2026, initial 2026 budget runs suggest corporate production is likely to average approximately 12,000-15,000 bopd next year, depending on the timing of the resumption of development drilling at Bretana. PetroTal continues to refine the 2026 development plan, which remains subject to board approval.