▫︎ During this period, sales averaged 18,347 bopd and production reached 18,518 bopd.
▫︎ Its parent company announced its first strategic acquisition of Cepsa Peruana's Block 131.
▫︎ Signed the trust contract for the social fund that will allow the initiation of development projects in the Puinahua district.

 PetroTal, operator of the Lot 95, recorded the second best quarter in its history during the first three months of this year, reaching average sales of 18,347 barrels of oil per day (bopd) and production of 18,518 bopd.

"The first quarter of 2024 was a near-record high for the company. Our cash flow was higher than expected in projectionsThis gives us greater flexibility to plan our performance in the coming quarters," said Guillermo Flórez, PetroTal's general manager.

At the end of the first quarter, the company achieved outstanding results in terms of liquidity and very competitive operating costs. The general manager said that, as usual in the company, the projections for the year will be reviewed when the results of the first six months are available.

Capital expenditures (Capex) were focused on the drilling of the 17H well and infrastructure projects in the Bretaña Norte field. During this period three new horizontal wells drilled successfullyTwo of them are already in operation with a performance in line with the company's expectations.

He highlighted the recent announcement of the strategic transaction to acquire Cepsa Peru's 100% from its parent company PetroTal Corp. This agreement is highly strategic from an operational perspective with Block 95 and because of its proximity to Block 107, which is still in the exploration stage. We are looking forward to incorporating it into our success story," he emphasized.

On the other hand, he referred to the merger between PetroTal Perú and Petrolífera Petroleum del PerúWe are in the process of merging these two companies in order to maximize our efforts focused on our strategic growth," he said.

Development projects

He pointed out that the implementation of the Development Fund for the Puinahua District, which receives 2.5% of the value of the audited production of Block 95, and currently has more than S/. 48 million, will be an important contribution to the development of the district. the implementation of the private trust in which the funds will be accumulated..

These resources, in addition to those received by Puinahua from the oil canon, which to date exceed S/ 6.8 million and by the end of the year will be close to S/ 20 million. -Thanks to the approval of the law that improves the distribution of this concept in Loreto, the gaps in the district will be reduced.

In this way, he noted, it will be possible to execute essential development projects for Puinahua such as connectivity, health, education, productive infrastructure, among others, which will make it possible to meet the most urgent demands of the population.