Shareholding reorganisation

Calgary, AB and Houston, TX - September 11, 2024-PetroTal Corp. ("PetroTal" or the "Company") (TSX: TAL, AIM: PTAL and OTCQX: PTALF) provides the following shareholder update.

PetroTal announces that it has been informed by the Company's largest shareholder, Mr. Askar Alshinbayev, that he has transferred ownership and control of 182,000,000 common shares of PetroTal to Blue Harbour I Capital Fund OFC, acting on behalf of Blue Harbour Capital Securities Fund I. In exchange for his common shares of PetroTal, Mr. Alshinbayev received approximately 1,889.5968 Investor Shares of Blue Harbour Capital Securities Fund I, which reportedly have an aggregate value of C$127,400,000, or approximately C$0.70 per PetroTal common share. The transferred shares represent approximately 19.91% of the issued and outstanding common shares of PetroTal, on a non-diluted basis. Following the transfer, Mr. Alshinbayev retains ownership of 24,047,157 common shares of PetroTal, representing approximately 2.63% of the issued and outstanding common shares of the company, on a non-diluted basis. PetroTal has been advised that Mr. Alshinbayev's disposition, and Blue Harbour's acquisition of the common shares of the company were for investment management restructuring purposes.

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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