Petrotal Q2

Key Highlights

Average Q2 2025 sales and production of 20,578 and 21,039 barrels of oil per day ("bopd"), respectively;

Generated Adjusted EBITDA(1) and Free Funds Flow(1) of $44.3 million ($23.66/bbl) and $27.2 million ($14.55/bbl), respectively;

Q2 2025 capital expenditures of $17.1 million, bringing H1 2025 capital expenditures to $40.7 million;

Net Income of $17.5 million ($9.35/bbl) in Q2 2025, and $48.4 million ($11.46/bbl) in H1 2025;

Total cash of $142.1 million, including $99.3 million of unrestricted cash;

Declaring a quarterly dividend of $0.015/sh, payable to shareholders on September 12, 2025, and;

Revision of 2025 production guidance to a range of 20,000 to 21,000 bopd, on capital spending of $80 million.

Manuel Pablo Zuniga-Pflucker, President and Chief Executive Officer, commented:

"PetroTal has once again delivered strong results in the second quarter of 2025, reflecting our ongoing commitment to profitable long-term growth. Even under lower oil prices this quarter, PetroTal is reporting free cash flow of more than $27 million, while holding our available cash reserves broadly flat near $100 million. The Bretana field is also performing as expected, with recent production topping 20,000 bopd.

As discussed in our July 14 operations update, we have encountered delays in the resumption of our development drilling program. As a result, we are revising our 2025 production guidance to a range of 20,000 to 21,000 bopd, from 21,000-23,000 bopd previously.

At the Bretana field, we are taking advantage of the gap in our drilling campaign to fully optimize our long-term plans for the asset, an exercise which takes on heightened importance given recent weakness in oil pricing. As indicated in the 2024 year-end reserves report, the field still has sixteen proved and probable locations remaining, and that is before we have even begun development of the VS1 sand in the Upper Vivian Formation. PetroTal is committed to developing the field in a responsible manner for all our stakeholders, at a variety of oil price assumptions. We have plenty of work ahead of us in the second half of 2025 and look forward to updating the market on our progress."