PetroTal Corp.

Description

PetroTal Corp is an oil and gas development company.

It develops, acquires, and explors material oil assets in North and South America. The firm is domiciled in Calgary, Canada. It also operates through its office in Houston, Texas.

PetroTal is a publicly traded company that focuses on the production of oil assets in Peru.

The company claims that its management team consists of individuals with experience in exploring and producing at oil fields in Northern Peru.

It also reportedly focuses on production and exploration operations at Bretaña oil field.

The oil and gas development firm owned full working interest at the Bretaña oil field located in Peru’s Block 95 The oil field is said to have commenced first production in June 2018 and in early 2020.

The company says that Bretaña is now the second-largest crude oil developer in Peru.

The Canada-domiciled firm also focuses on finding a partner to drill at the Osheki prospect (in Block 107).

Bretaña (Block 95) (100% WI)

In June 2018, Bretana commenced first production under budget and time. It consists of 39.8 MMBO 2P reserves and 79.3 MMBO 3P reserves.

It is an extensive undeveloped oil field that acquired 3D seismic in 2014 and has five wells.

The company focuses on 100% oil development and production with nominal fuel.

It claims to have achieved significant development from the first well that produced 2,000 bopd in November.

The property also consists of five exploration prospects.

Osheki Prospect, Block 107/133 (100 per cent WI)

It consists of 534 MMBOE situated in the Ucayali basin. In addition, it includes Osheki property, consisting of 6 BBO of un-risked prospective recoverable assets, the firm claims.

Osheki project represents a sub-thrust oil and gas prospect, which resembles the Cusiana complex based in Colombia’s Llanos Foothills.

It has finished 2D seismic with drilling permits approval.

The Canada-based oil and gas firm says it has developed a new 3D geologic model that is less risky and supports cretaceous reservoirs.

The company’s stocks are traded on TSXV under 'TAL' ticker symbol.