PetroTal Announces TR-1 Notification of a New Major Shareholder - Fidelity International

Calgary, Alberta and Houston, Texas--(Newsfile Corp. - January 27, 2022) - PetroTal Corp. (TSXV: TAL) (AIM: PTAL) (OTCQX: PTALF) ("PetroTal" or the "Company") advises that it has received a TR-1 Standard form for notification of major holdings from Fidelity International dated January 26, 2022.

As indicated in the TR-1 form, as at January 24, 2022, Fidelity International held 42,315,097 shares of PetroTal representing approximately 5.1% total ownership.

Based on 830,942,270 common shares outstanding, and as far as the Company is aware, the current major shareholders of PetroTal are:

• Meridian Capital International - 154,010,361 (18.5%)
• Kite Lake Capital Management - 87,166,854 (10.5%)
• Burggraben Holding AG - 67,399,012 (8.1%)
• Encompass Capital Advisors LLC - 54,154,853 (6.5%)
• Fidelity International - 42,315,097 (5.1%)

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

"We welcome Fidelity International into our major shareholder group, a strong indication of investor support for the operational/financial excellence and growth we offer."

ABOUT PETROTAL

PetroTal is a publicly traded, tri‐quoted (TSXV: TAL) (AIM: PTAL) and (OTCQX: PTALF) oil and gas development and production Company domiciled in Calgary, Alberta, focused on the development of oil assets in Peru. PetroTal's flagship asset is its 100% working interest in Bretana oil field in Peru's Block 95 where oil production was initiated in June 2018. In early 2020, Petrotal became the second largest crude oil producer in Peru. The Company's management team has significant experience in developing and exploring for oil in Peru and is led by a Board of Directors that is focused on safely and cost effectively developing the Bretana oil field. It is actively building new initiatives to champion community sensitive energy production, benefiting all stakeholders.

For further information, please see the Company's website at www.petrotal-corp.com, the Company's filed documents at www.sedar.com, or below:

Douglas Urch
Executive Vice President and Chief Financial Officer
Durch@PetroTal-Corp.com
T: (713) 609-9101

Manolo Zuniga
President and Chief Executive Officer
Mzuniga@PetroTal-Corp.com
T: (713) 609-9101

PetroTal Investor Relations
InvestorRelations@PetroTal-Corp.com

Celicourt Communications
Mark Antelme / Jimmy Lea
petrotal@celicourt.uk
T : 44 (0) 208 434 2643

Strand Hanson Limited (Nominated & Financial Adviser)
Ritchie Balmer / James Spinney / Robert Collins
T: 44 (0) 207 409 3494

Stifel Nicolaus Europe Limited (Joint Broker)
Callum Stewart / Simon Mensley / Ashton Clanfield
Tel: +44 (0) 20 7710 7600

Auctus Advisors LLP (Joint Broker)
Jonathan Wright
T: +44 (0) 7711 627449

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111817