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Petrotal Corp T.TAL

Alternate Symbol(s):  PTALF

PetroTal Corp. is an oil and gas development and production company focused on the development of oil assets in Peru. The Company is engaged in the exploration, appraisal and development of oil and natural gas in Peru, South America. Its flagship asset is its 100% working interest in Bretana Norte oil field in Peru's Block 95. Through its two subsidiaries, the Company is engaged in the ongoing development of hydrocarbons in Block 95 with a focus on the development and production from the Bretana oil field. In addition to further leads in Block 95, the Company has significant exploration prospects and leads in Block 107. The Bretana oil field is located in the Maranon Basin of northern Peru. The Company has a 100% working interest in the Bretana oil field. Block 107 has three additional leads, inclusive of the Osheki-Kametza prospect. The Company also has a 100% working interest in Peru's Block 131.


TSX:TAL - Post by User

Bullboard Posts
Post by LastoftheFrankson Aug 09, 2020 11:40am
255 Views
Post# 31384433

Protests close Block 95/ Bretana

Protests close Block 95/ Bretana

Due to the force measures in its facilities, PetroTal has been forced to announce the total stoppage of its activities in Block 95. This measure directly affects the operations of the License Agreement of Block 95, the company said in a statement.

 

By ceasing to operate, the jobs of the more than one hundred workers of the company in Peru and the royalty collection in the region have been put at risk. "We recognize that the current context of pandemic in the country has highlighted the limitations and deficiencies that exist in the region in the health sector, especially in populations far from the Loreto region," said Ronald Egsquiza, general manager from PetroTal.

 

The company exhorts the people who are protesting, to lay down their measure of force and requests the Executive to continue with an open dialogue process that allows solving the real needs of the population of the Puinahua district and of Brittany in particular, especially in everything related to basic services and urgent health requirements. Just a few days ago, the company said that the oil operation restarted its activities on July 15 and production had returned to its levels prior to closure due to the pandemic.

 

The organization has implemented strict test measures and modified operating procedures to ensure the safety of its workers. The company's second-quarter production was about 4,180 oil per day - the oil field had been closed since early May. Now, the company's usual rate is 10,000 barrels of bpd, although it expects to exceed 12,000 bpd when all seven wells are operating. https://energiminas.com/loreto-petrotal-anuncia-paralizacion-total-de-sus-operaciones-en-lote-95/

Bullboard Posts