PetroTal Corp. Social Fund By-laws Approved by Committee (9888A)
30 5월 2023 - 3:00PM
UK Regulatory
TIDMPTAL
RNS Number : 9888A
PetroTal Corp.
30 May 2023
PetroTal Announces Social Fund By-laws Approved by Working Table
Committee
Community social fund, led by PetroTal, achieves next step in
formalization process
Redistribution of the Canon to Loreto increased by approximately
six times
Calgary, AB and Houston, TX - May 30, 2023-PetroTal Corp.
("PetroTal" or the "Company") (TSX: TAL, AIM: PTAL and OTCQX:
PTALF) is pleased to report the technical working table committee
for the 2.5% Block 95 community social trust fund ("social trust")
has approved bylaws governing and regulating the social trust. This
was a required follow up step from the March 9, 2023 announced
publication of the Supreme Decree, signed by Peru's President
authorizing Petroperu to execute the amendment incorporating the
2.5% social trust to the Block 95 license contract.
The approval of the by-law regulations was a result of constant
and coordinated efforts between members of the working table
committee and the population of Puinahua with its regional
governance members. Outlined in the regulation is the establishment
of a formal Board of Directors led by representatives from the
Government of Peru, PetroTal, and groups representing the local
population near the Bretana oil field.
Canon(1) Redistribution
The Peruvian Economic Commission of Congress has approved the
redistribution of the Canon for the Loreto region. If approved by
the Executive, as expected, the share of the Canon going to the
Loreto producing district should increase approximately six times
starting in 2024. This would allow the Puinahua Municipality to
increase its budget and, together with the 2.5% social trust fund,
make a significant impact on the lives of the Puinahua district
population.
1 Canon is the method used by the central government to allocate
funds back to various producing regions and communities in
Peru.
ABOUT PETROTAL
PetroTal is a publicly traded, tri--quoted (TSX: TAL, AIM: PTAL
and OTCQX: 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 2022, PetroTal
became the 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
Durch@PetroTal-Corp.com
T: (713) 609-9101
Manolo Zuniga
President and Chief Executive Officer
Mzuniga@PetroTal-Corp.com
T: (713) 609-9101
PetroTal Investor Relations
InvestorRelations@PetroTal-Corp.com
Celicourt Communications
Mark Antelme / Jimmy Lea
petrotal@celicourt.uk
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
T: +44 (0) 20 7710 7600
Auctus Advisors LLP (Joint Broker)
Jonathan Wright
T: +44 (0) 7711 627449
READER ADVISORIES
Neither the TSX Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Exchange)
accepts responsibility for the adequacy or accuracy of this press
release.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCEBLBXXELLBBL
(END) Dow Jones Newswires
May 30, 2023 02:00 ET (06:00 GMT)
Petrotal (LSE:PTAL)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Petrotal (LSE:PTAL)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024