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PetroTal Announces Q3 2026 Operations and Financial Updates
- TAL.TO
- PTALF
- PTAL.L
Calgary, Alberta and Houston, Texas–(Newsfile Corp. – October 14, 2026) – PetroTal Corp. (TSX: TAL) (AIM: PTAL) (OTCQX: PTALF) (“PetroTal” or the “Company”) is pleased to provide the following operational and financial updates. All amounts are in US dollars unless stated otherwise.
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Group production averaged 11,797 barrels of oil per day (“bopd”) in Q3 2026, and 13,076 bopd YTD;
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Unrestricted cash balance increased to $115.6 million as of September 30, 2026;
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Bretana development well 25H drilling progressing on schedule, with the well currently at 3,362 meters;
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PetroTal awarded Area CXVII Technical Evaluation Agreement (“TEA”) in Peru’s Maranon Basin.
Manuel Pablo Zuniga-Pflucker, President and Chief Executive Officer, commented:
“PetroTal delivered another solid quarter in Q3 2026. Year-to-date production is running about 3% ahead of budget, and our unrestricted cash rose by more than $10 million quarter-over-quarter to $115.6 million. At Bretana, the 25H development well drilling is progressing on schedule and in line with the pre-drill prognosis. The 25H well is the first oil well in the renewed development drilling program that we expect will return Bretana field production to approximately 20,000 bopd by the end of the first quarter of 2027.
We are also pleased to have signed a new TEA with PeruPetro in Area CXVII. It gives us exclusive, low-cost access to evaluate two structures where legacy wells have tested oil, on trend with other major oil fields in the Maranon Basin, including Bretana. We look forward to updating shareholders on Q3 financial results and the 25H well on November 9.”
Q3 2026 Production and Operations Update
PetroTal’s group production averaged 11,797 bopd in Q3 2026, including 11,465 bopd from the Bretana field (Block 95; PetroTal 100% WI) and 332 bopd from the Los Angeles field (Block 131; PetroTal 100% WI). As of September 30, 2026, PetroTal’s year-to-date production has averaged 13,076 bopd, approximately 3% ahead of internal budget expectations. Following the completion of stimulation work on two water injection wells at the Bretana field, PetroTal injected an average of 187,000 barrels of water per day in the month of September, a 6% increase compared to the prior month.
As disclosed previously, PetroTal spud the Bretana 25H development well on Monday, September 21. The well is currently drilling at a depth of 3,362 meters, in line with pre-drill prognosis. PetroTal is pleased with drilling progress to date, as the Company moves to restore production to 20,000 bopd by the end of the first quarter of 2027.
