Grant of Performance Share Units

Calgary, AB and Houston, TX - March 18, 2024-PetroTal Corp. ("PetroTal" or the "Company") (TSX: TAL, AIM: PTAL and OTCQX: PTALF) announces the grant of performance share units ("PSUs") to employees and officers of the Company, in accordance with the Company's performance and restricted share unit plan.

Q4 2023 dividend declaration and PSU Dividend Equivalents.

As announced on February 13, 2024, the Company is pleased to confirm that a total dividend payment of approximately $18.4 million, representing US$0.02/share, was paid on March 15, 2024 to shareholders on record at February 29, 2024. This equates to a 13.9% annualized yield based on a US$0.575/share trading price. Shareholders should confirm with their brokers to verify their ownership status on February 29, 2024.

In accordance with PetroTal's PSU plan ("PSU"), the Company's March 15, 2024 dividend distribution resulted in an additional 567,025 PSUs being issued, of which 381,602 PSUs are to Officers. The remaining 185,423 PSUs are issued to employees, and all will vest according to their original grant date.

The Company has a total of 12,403,296 PSUs outstanding.

Q4 and 2023 full year webcast link for March 21, 2024

PetroTal will host a webcast for its Q4 2023 and 2023 full year results on March 21, 2024 at 9am CT (Houston). Please see the link below to register.

Douglas Urch

Executive Vice President and Chief Financial Officer

Manolo Zuniga

President and Chief Executive Officer

PetroTal Investor Relations

Celicourt Communications

Mark Antelme / Jimmy Lea

Strand Hanson Limited (Nominated & Financial Adviser)

Ritchie Balmer / James Spinney / Robert Collins

Stifel Nicolaus Europe Limited (Joint Broker)

Callum Stewart / Simon Mensley / Ashton Clanfield

Peel Hunt LLP (Joint Broker)

Richard Crichton / David McKeown / Georgia Langoulant

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