PetroTal Corp - Peru-focused oil and gas development and production firm - Upgrades reserves estimate for its Bretana oil field in Peru. Proved - or 1P - reserves increase 4% to 22.3 million barrels. Proved and probable - or 2P - reserves are up 7% to 51.0 million barrels. Proved plus probable and possible - or 3P - reserves are up 25% to 106.1 million barrels. Net present value before tax is at USD317 million - USD14.21 per barrel - for 1P reserves and USD830 million - USD16.27 per barrel - for 2P reserves.
Current stock price: 18.25 pence
Year-to-date change: up 30%
By Ife Taiwo; ifetaiwo@alliancenews.com
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PetroTal (PTAL)