Grant of Performance Share Units

Calgary, AB and Houston, TX - May 10, 2024-PetroTal Corp. ("PetroTal" or the "Company") (TSX: TAL, AIM: PTAL and OTCQX: PTALF) announces the annual 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.

2024 PSU grants

PetroTal has granted an aggregate of 6,372,974 PSUs, of which 3,526,270 PSUs are to Officers. The PSUs issued to the Officers will vest three years from the date of grant and each PSU will entitle the holder to acquire, for nil cost, between zero and two common shares of the Company ("Shares"), subject to achievement, as evaluated by the Corporate Governance and Compensation Committee, of 2024 Key Performance Indicators ("KPIs") relating to the Company's total shareholder return, net asset value and certain production and operational milestones. The remaining 2,846,704 PSUs are issued to employees, and vest annually, on an equal basis, over the next three years.

Camilo McAllister

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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