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PetroTal Announces Grant of Performance Share Units

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PetroTal Announces Grant of Performance Share Units

Canada NewsWire

CALGARY and HOUSTON, Oct. 31, 2018 /CNW/ - PetroTal Corp. ("PetroTal" or the "Company") (TSX-V: TAL) announces the grant of performance share units ("PSUs") to an officer of the Company.

The Company granted 106,667 PSUs to an officer of the Company in accordance of the provisions of the Company's PSU plan. The PSUs will vest annually over three years and each PSU will entitle the holder to acquire between zero and two common shares of the Company ("Common Shares"), subject to the achievement of performance conditions relating to the Company's total shareholder return, net asset value and certain production and operational milestones.

Further details regarding the PSU plan are set out in the management information circular of the Company dated April 30, 2018, which is available on SEDAR at www.sedar.com.

ABOUT PETROTAL

PetroTal is a publicly-traded oil and gas development and production company domiciled in Calgary, Alberta, focused on the development of oil assets in Peru.  The Company's management team has significant experience in developing oil fields in Northern Peru and is focused on safely and cost effectively developing and exploiting the Bretaña oil field in Block 95 and evaluating the promising Osheki prospect in Block 107.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PetroTal Corporation

View original content: http://www.newswire.ca/en/releases/archive/October2018/31/c6049.html

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