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PetroTal Corp. announces leadership team updates with the appointment of Mr. Camilo McAllister as Executive Vice President and Chief Financial Officer, bringing over 25 years of experience in the international energy sector. Additionally, Mr. Emilio T. Acin Daneri joins as Vice President, Business Development, with over 30 years of experience in global oil companies. The Company expresses gratitude to Mr. Douglas Urch for his contributions as he retires from his role as the Chief Financial Officer.
PetroTal Corp. annuncia aggiornamenti del team di leadership con la nomina del Sig. Camilo McAllister a Vicepresidente Esecutivo e Direttore Finanziario, portando con sé oltre 25 anni di esperienza nel settore energetico internazionale. Inoltre, il Sig. Emilio T. Acin Daneri entra a far parte come Vicepresidente allo Sviluppo Commerciale, avendo oltre 30 anni di esperienza in compagnie petrolifere globali. La società esprime gratitudine al Sig. Douglas Urch per i suoi contributi, in occasione del suo ritiro dal ruolo di Direttore Finanziario.
PetroTal Corp. anuncia actualizaciones en su equipo de liderazgo con el nombramiento de Don Camilo McAllister como Vicepresidente Ejecutivo y Director Financiero, aportando más de 25 años de experiencia en el sector energético internacional. Adicionalmente, Don Emilio T. Acin Daneri se une como Vicepresidente de Desarrollo de Negocios, con más de 30 años de experiencia en compañías petroleras globales. La compañía muestra su agradecimiento a Don Douglas Urch por sus contribuciones al retirarse de su puesto como Director Financiero.
PetroTal Corp.는 국제 에너지 분야에서 25년 이상의 경력을 가진 카밀로 맥앨리스터 씨를 수석 부사장 겸 최고재무책임자로 임명하면서 리더십 팀 업데이트를 발표했습니다. 또한, 글로벌 석유회사에서 30년 이상의 경력을 가진 에밀리오 T. 아신 다네리 씨가 비즈니스 개발 부사장으로 합류하였습니다. 회사는 최고재무책임자로서 역할에서 은퇴하는 더글라스 어치 씨에게 공헌에 대한 감사의 뜻을 표합니다.
PetroTal Corp. annonce des mises à jour de son équipe de direction avec la nomination de M. Camilo McAllister en tant que Vice-président Exécutif et Directeur Financier, apportant plus de 25 ans d'expérience dans le secteur de l'énergie internationale. De plus, M. Emilio T. Acin Daneri rejoint en tant que Vice-président au Développement Commercial, avec plus de 30 ans d'expérience dans des compagnies pétrolières mondiales. La société exprime sa gratitude envers M. Douglas Urch pour ses contributions alors qu'il prend sa retraite de son poste de Directeur Financier.
PetroTal Corp. kündigt Aktualisierungen des Führungsteams mit der Ernennung von Herrn Camilo McAllister zum Executive Vice President und Chief Financial Officer an, der über 25 Jahre Erfahrung im internationalen Energiesektor mitbringt. Zusätzlich tritt Herr Emilio T. Acin Daneri als Vice President für Geschäftsentwicklung bei, mit über 30 Jahren Erfahrung bei globalen Ölunternehmen. Das Unternehmen drückt seine Dankbarkeit gegenüber Herrn Douglas Urch für seine Beiträge aus, da er sich aus seiner Rolle als Chief Financial Officer zurückzieht.
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Calgary, Alberta and Houston, Texas--(Newsfile Corp. - April 24, 2024) - PetroTal Corp. (TSX: TAL) (AIM: PTAL) (OTCQX: PTALF) ("PetroTal" or the "Company") is pleased to announce leadership team updates.
Chief Financial Officer Appointment
Effective April 24, 2024, Mr. Camilo McAllister joins PetroTal as Executive Vice President and Chief Financial Officer. Camilo McAllister brings over 25 years of experience in the international energy sector to his role as a strategic executive of the Company. His leadership has spanned roles across North America, Latin America, and the UK, across various companies, including BP, Ecopetrol S.A., Frontera Energy, and Constellation. He most recently served as Group Chief Financial Officer at Constellation, a privately owned offshore and onshore oil and gas drilling company. He holds an MBA from The Fuqua School of Business at Duke University.
Mr. McAllister has a strong track record across finance, strategy, and operations. He has developed collaborative, high-performing teams and has shown a commitment to the highest standards of governance and compliance for stakeholders. Mr. McAllister's ability to forge strategic relationships has secured critical funding and collaboration across diverse business cultures.
Mr. McAllister will be based in Houston and will also spend time in Lima, in line with our policy of ensuring senior management work closely with our operational and finance teams in-country.
Concurrent with the appointment, Mr. Douglas Urch is retiring as PetroTal's Executive Vice President and Chief Financial Officer, positions he held since November 2019. Mr. Urch will continue to work with the Company to ensure a smooth transition period. As one of the original investors in PetroTal, Mr. Urch initially served on the Board from 2017 until 2019 and then as Chief Financial Officer. Having over 35 years of experience leading the financial, compliance and regulatory aspects for a variety of international energy companies, Mr. Urch has been instrumental in the growth and success of PetroTal.
Vice President, Business Development Appointment
Effective April 1, 2024, Mr. Emilio T. Acin Daneri joined PetroTal as Vice President, Business Development. Emilio Acin Daneri brings over 30 years of experience in several global oil companies, working in a variety of business development, commercial and financial executive roles. He has been instrumental in multiple merger, acquisition and divestiture transactions, primarily in Latin America.
Prior to PetroTal, Mr. Acin Daneri served as a Senior Commercial Advisor at CNOOC International, having key roles in developing transactions and alliances across Latin America. Prior to CNOOC, Mr. Acin Daneri was a Director at Repsol where he held several positions of increasing responsibility, including Director of Business Development for Europe, Asia and Africa and later Latin America, and Deputy CFO for the JV with Sinopec in Brazil. Prior to Repsol, he held commercial and finance positions at Madagascar Oil, Pioneer Natural Resources, El Paso Corporation and Santa Fe Energy Resources.
Manuel Pablo Zuniga-Pflucker, President and Chief Executive Officer, commented:
"On behalf of the management team and board, we want to extend a warm welcome to Messrs. McAllister and Acin Daneri. Both have very impressive backgrounds and complement our existing leadership team extremely well, along with enhancing our corporate growth strategy.
I would like to thank Mr. Urch for his outstanding leadership and dedication to PetroTal over the past seven years and extend our best wishes in his retirement and other endeavors."
ABOUT PETROTAL
PetroTal is a publicly traded, tri‐quoted (TSX: 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 2022, PetroTal became the 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.
Stifel Nicolaus Europe Limited (Joint Broker) Callum Stewart / Simon Mensley / Ashton Clanfield T: +44 (0) 20 7710 7600
Peel Hunt LLP (Joint Broker) Richard Crichton / David McKeown / Georgia Langoulant T: +44 (0) 20 7418 8900
READER ADVISORIES
FORWARD-LOOKING STATEMENTS: This press release contains certain statements that may be deemed to be forward-looking statements. Such statements relate to possible future events, including, but not limited to, oil production levels and guidance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "believe", "expect", "plan", "estimate", "potential", "will", "should", "continue", "may", "objective" and similar expressions. Without limitation, this press release contains forward-looking statements pertaining to: PetroTal's drilling, completions, workovers and other activities; the Company's plans and expectations with respect to the OCP pilot oil shipment and its continued advancement; anticipated future production and revenue; drilling plans including the timing of drilling, commissioning, and startup; PetroTal's 2024 guidance, including in respect of its production and sales target of 17,000 bopd and estimate that it will deliver a 20% growth rate over 2023 production and anticipated benefits thereof (i.e., that PetroTal will generate approximately $200 million in EBITDA as a result, underpinned by a total 2024 capex spend of $134 million and allowing for a stable return of capital program and shareholder return upside); expectations with respect to well 17H production; 2024 budget guidance; plans with respect to well 18H including in respect of anticipated costs, completion and timing thereof including the Company's plans to begin production at well 18H in May of 2024; expectation that the Company will continue to prioritize derisking oil sales so it can embark on new production growth projects; average 2024 production; intentions with respect to return of capital and the 19 year 2P reserve life index. In addition, statements relating to expected production, reserves, recovery, replacement, costs and valuation are deemed to be forward-looking statements as they involve the implied assessment, based on certain estimates and assumptions that the reserves described can be profitably produced in the future. The forward-looking statements are based on certain key expectations and assumptions made by the Company, including, but not limited to, expectations and assumptions concerning the ability of existing infrastructure to deliver production and the anticipated capital expenditures associated therewith, the ability to obtain and maintain necessary permits and licenses, the ability of government groups to effectively achieve objectives in respect of reducing social conflict and collaborating towards continued investment in the energy sector, reservoir characteristics, recovery factor, exploration upside, prevailing commodity prices and the actual prices received for PetroTal's products, including pursuant to hedging arrangements, the availability and performance of drilling rigs, facilities, pipelines, other oilfield services and skilled labour, royalty regimes and exchange rates, the impact of inflation on costs, the application of regulatory and licensing requirements, the accuracy of PetroTal's geological interpretation of its drilling and land opportunities, current legislation, receipt of required regulatory approval, the success of future drilling and development activities, the performance of new wells, future river water levels, the Company's growth strategy, general economic conditions and availability of required equipment and services. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses; and health, safety and environmental risks), commodity price volatility, price differentials and the actual prices received for products, exchange rate fluctuations, legal, political and economic instability in Peru, access to transportation routes and markets for the Company's production, changes in legislation affecting the oil and gas industry and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures; changes in the financial landscape both domestically and abroad, including volatility in the stock market and financial system; and wars (including Russia's war in Ukraine and the Israeli-Hamas conflict). Please refer to the risk factors identified in the Company's most recent annual information form and MD&A which are available on SEDAR+ at www.sedarplus.ca. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Who is the new Chief Financial Officer of PetroTal Corp.?
Mr. Camilo McAllister is the new Chief Financial Officer of PetroTal Corp., bringing over 25 years of experience in the international energy sector.
What is the background of Mr. Emilio T. Acin Daneri, the new Vice President, Business Development at PetroTal Corp.?
Mr. Emilio T. Acin Daneri has over 30 years of experience in several global oil companies, working in various business development, commercial, and financial executive roles.
Who is retiring from the role of Executive Vice President and Chief Financial Officer at PetroTal Corp.?
Mr. Douglas Urch is retiring from his position as the Executive Vice President and Chief Financial Officer at PetroTal Corp.
