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| Date | 26 Nov 2021 |
| Time | 07:08:55 |
| Category | Miscellaneous |
| ID | 7182T |
PetroTal Advises of Gran Tierra Share Ownership Reduction
Calgary, AB and Houston, TX - November 26, 2021-PetroTal Corp. ("PetroTal" or the "Company") (TSX-V: TAL, AIM: PTAL and OTC: PTALF) advises that, as announced by Gran Tierra Energy Inc. ("GTEI") on November 26, 2021, Gran Tierra Resources Limited ("GTRL") has sold an aggregate of 137,093,750 common shares in the Company, ("Common Shares") representing all shares owned by GTEI. The Company understands that multiple entities purchased the Common Shares sold by GTRL. PetroTal was not a party to the agreements and did not receive any proceeds from the sale transactions.
The Company has 826,662,172 Common Shares in issue and there are no shares held in treasury. For purposes of the Disclosure Guidance and Transparency Rules, the total number of voting rights (TVR) in the Company is 826,662,172. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change of their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
ABOUT PETROTAL
PetroTal is a publicly traded, tri‐quoted (TSXV: TAL, AIM: PTAL and OTC: 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 2020, Petrotal became the second 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.
For further information, please see the Company's website at www.petrotal-corp.com, the Company's filed documents at www.sedar.com, or below:
Douglas Urch
Executive Vice President and Chief Financial Officer
T: (713) 609-9101
Manolo Zuniga
President and Chief Executive Officer
T: (713) 609-9101
PetroTal Investor Relations
Celicourt Communications
Mark Antelme / Jimmy Lea
T : 44 (0) 208 434 2643
Strand Hanson Limited (Nominated & Financial Adviser)
Ritchie Balmer / James Spinney / Robert Collins
T: 44 (0) 207 409 3494
Stifel Nicolaus Europe Limited (Joint Broker)
Callum Stewart / Simon Mensley / Ashton Clanfield
Tel: +44 (0) 20 7710 7600
Auctus Advisors LLP (Joint Broker)
Jonathan Wright
T: +44 (0) 7711 627449
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.