PetroTal's Board of Directors has declared a quarterly cash dividend of USD$0.015 per common share, payable on June 13, 2025 to shareholders of record on May 30, 2025, with an ex-dividend date of May 30, 2025. This dividend is with respect to Q1 2025 results and includes the recurring USD$0.015 per common share amount but no liquidity sweep this quarter due to a combination of weakening oil prices and anticipated heavier cash requirements over the next two quarters.
Other financial highlights include:
• Average Q1 2025 sales and production of 23,286 and 23,281 barrels of oil per day ("bopd"), respectively, both record highs for PetroTal;
• Generated Adjusted EBITDA and Net Income of $71.9 million ($34.29/bbl) and $30.9 million ($14.72/bbl), respectively;
• Free Funds Flow of $48.2 million ($23.02/bbl), PetroTal's second best quarter since inception;
• Capital expenditures of $23.6 million, a substantial QoQ decrease as the Bretana drilling campaign wound down in January;
• Total cash of $113.6 million at end of the period, essentially flat to the prior quarter, and an increase of $28 million compared to the same period last year;
• Arrangement of term loan facility with a syndicate of Peruvian banks, with commitments of up to $65 million;
• Mark to market value of production hedges increased to $14.2 million as of May 7, 2025, and;
