PetroTal (TAL) Trading update summary

Production and operations update

• Year-to-date average production reached 13,181 bopd, about 3% above budget expectations.

• August 2026 production averaged 11,709 bopd, with 11,402 bopd from Bretana and 308 bopd from Los Angeles.

• Recent pulling campaign at Bretana improved production deliverability and offset natural declines.

• Workovers on two water injection wells are underway to increase water injection capacity.

• Development drilling at Bretana is scheduled to resume in October 2026.

Block 131 royalty and contract update

• Block 131 License Contract amended to introduce a sliding scale royalty of 5%, 9%, and 15% for incremental production.

• About 60% of current Los Angeles field production will benefit from the new royalty scheme; the rest remains at 23.5%.

• Future production from deeper formations will have a flat 5% royalty.

• Social Fund contribution increased to 2.5% as part of the agreement.

• Commitment to drill two new wells at Block 131 within two years to maintain reduced royalty rates.

Infrastructure and ESG initiatives

• Erosion control project at Bretana remains paused; contractor selection is ongoing.

• Positive response observed from remediation efforts at partially constructed breakwaters.

• Hydrobags continue to be used to supplement riverbank protection.

• Ongoing commitment to community-sensitive energy production and increased Social Fund contributions.