Bretana Development Drilling Resumes

Calgary, AB and Houston, TX – September 23, 2026 – PetroTal Corp. ("PetroTal" or the "Company") (TSX: TAL, AIM: PTAL and OTCQX: PTALF) is pleased to provide the following operational update. All amounts are in US dollars unless stated otherwise.

Key Highlights

Manuel Pablo Zuniga-Pflucker, President and Chief Executive Officer, commented:

“I am very excited to announce that we have spud the 25H development well, our first new well at Bretana since January 2025. The resumption of development drilling at Bretana is the culmination of months of hard work from our entire team and represents the first step in restoring our production base to a sustainable plateau of approximately 20,000 bopd. With a drilling inventory of 22 locations remaining to fully exploit Bretana 2P reserves of 106 million barrels, I am confident that PetroTal is on the path to unlocking the full value of the Bretana field."

Bretana 25H Drilling Update

At 7:00pm local time on Monday September 21, PetroTal formally commenced the next phase of its development drilling program at Bretana, spudding the 25H horizontal well approximately one week ahead of schedule. This will be the 20th horizontal well that PetroTal has drilled at the Bretana field, and the first well using the higher-spec Estrella 2027 drilling rig. Consistent with horizontal development wells previously drilled at Bretana, well 25H will be drilled to a measured depth of approximately 4,300 meters, targeting the producing Vivian formation at a vertical depth of approximately 2,700 meters. Well 25H is expected to take approximately eight weeks to drill and complete, at a total cost of $15 million. PetroTal will continue to provide updates on drilling progress as necessary.

Block 95 Operations Update

As disclosed previously, PetroTal recently conducted stimulations on two water injection wells at the Bretana field. Since the operations were completed on September 3, water injection capacity at the Bretana field has averaged just over 190,000 barrels per day, an increase of 9% compared to the August 2026 monthly average. These efforts are part of a larger, ongoing initiative to increase the Bretana field’s water injection capacity to a total of 320,000 barrels per day by the end of 2028. Supported by the improvements in injection capacity, Bretana field production has averaged 11,960 bopd in September, an increase of approximately 600 bopd compared to the prior month. PetroTal’s total group production is averaging 12,286 bopd thus far in September.

Camilo McAllister

Executive Vice President and Chief Financial Officer

Manolo Zuniga

President and Chief Executive Officer

PetroTal Investor Relations

Celicourt Communications

Mark Antelme / Charles Denley-Myerson

Strand Hanson Limited (Nominated & Financial Adviser)

Ritchie Balmer / James Spinney / Edward Foulkes

Stifel Nicolaus Europe Limited (Joint Broker)

Callum Stewart / Simon Mensley / Ashton Clanfield

Peel Hunt LLP (Joint Broker)

Richard Crichton / David McKeown / Georgia Langoulant

READER ADVISORIES

FOFI DISCLOSURE: This press release contains future-oriented financial information and financial outlook information (collectively, "FOFI") about PetroTal’s prospective results of operations and production results, 2026 drilling program and budget, well investment payback, water injection capacity, cash position, liquidity and components thereof, all of which are subject to the same assumptions, risk factors, limitations and qualifications as set forth in the above paragraphs. FOFI contained in this press release was approved by management as of the date of this press release and was included for the purpose of providing further information about PetroTal's anticipated future business operations. PetroTal and its management believe that FOFI has been prepared on a reasonable basis, reflecting management’s best estimates and judgments, and represent, to the best of management’s knowledge and opinion, the Company’s expected course of action. However, because this information is highly subjective, it should not be relied on as necessarily indicative of future results. PetroTal disclaims any intention or obligation to update or revise any FOFI contained in this press release, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. Readers are cautioned that the FOFI contained in this press release should not be used for purposes other than for which it is disclosed herein. All FOFI contained in this press release complies with the requirements of Canadian securities legislation, including NI 51-101. Changes in forecast commodity prices, differences in the timing of capital expenditures, and variances in average production estimates can have a significant impact on the key performance measures included in PetroTal's guidance. The Company's actual results may differ materially from these estimates.