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PetroTal Announces Closure of Bretana Oil Field Due to Social Disruption

Source: 8/10/2020, Location: South America

PetroTal Corp. (TAL) (PTAL) (ďPetroTalĒ) advises that as a preemptive measure it has shut down the Bretana Oil Field due to civil unrest outside the oil field camp. The civil unrest has been conducted by the same group that the prior week took over Petroperuís Pump Station No.5 at Saramiriza seeking Government assistance against the COVID-19 crisis. The field closure is expected to last until the inquiry into the incident is completed.

As a result of the attack at Pump Station No.5, PetroTal had requested enhanced security at the Bretana field from Peruís National Police. The police had dispatched about 40 officers to act in a preventive manner to discourage any violence from the protesters, and a local prosecutor from nearby Requena came along to be able to report on any disturbances. Charges are expected to be laid against those protesters that acted unlawfully during the protest.

In the late hours of August 8, 2020 and into the early hours of August 9, 2020, an armed group of protesters, mostly from areas outside of Bretana, confronted the national police force. As a result, and during the ensuing struggle, about a dozen injuries amongst the police and protesters were reported. Unfortunately, there were also three other injured protestors that later died from their injuries. PetroTal is cooperating fully with the authorities as they conduct their review of this unfortunate incident.

For safety reasons, all non-essential personnel have been evacuated from the oil field pursuant to the normal rotation schedule, with a key group remaining on hand to commence production when itís appropriate, at which time the remaining crew will be brought back into the field under the appropriate COVID-19 protocol.

It is important to highlight that the protests were against the Government of Peru, as PetroTal is known as a Peruvian led and operated oil company whose mission and vision is in tune with the local communities struggle to be empowered to manage their fair share of the Governmentís oil contracts take. PetroTal has consistently promoted that Government and community revenue sharing should happen under full transparency.

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