PetroTal Corp. (TSX: TAL | AIM: PTAL | OTCQX: PTALF) has announced the resumption of development drilling at its Bretana field in Peru, with the spudding of horizontal well 25H approximately one week ahead of schedule on September 21, 2026. The milestone marks the company's first new well at Bretana since January 2025 and is presented as a key step toward restoring production to a targeted plateau of approximately 20,000 barrels of oil per day. Investors may be watching closely given the company's stated ambition to fully exploit Bretana's 2P reserves of 106 million barrels across a remaining inventory of 22 drilling locations.

Key Points

  • PetroTal Corp. (TSX: TAL | AIM: PTAL | OTCQX: PTALF) is a Calgary-based oil and gas producer focused on Peru's Block 95.
  • Well 25H was spudded on September 21, 2026 — the 20th horizontal well drilled at Bretana and the first using the higher-spec Estrella 2027 rig.
  • Well 25H carries a total cost of $15 million USD and is expected to take approximately eight weeks to drill and complete to a measured depth of approximately 4,300 metres.
  • Total group production averaged 12,286 bopd in September, up approximately 600 bopd month over month.

Well 25H Drilling Details and Bretana Field Targets

Well 25H is a horizontal development well targeting the producing Vivian formation at a vertical depth of approximately 2,700 metres, with a planned measured depth of approximately 4,300 metres. PetroTal disclosed a total well cost of $15 million USD and an estimated completion timeline of approximately eight weeks. The well is the first to use the Estrella 2027 drilling rig, which the company describes as higher-spec than previously deployed equipment. Management stated that the resumption of drilling represents the first step in restoring the Bretana field to a sustainable production plateau of approximately 20,000 bopd.

Water Injection Capacity Improvements at Bretana Boost September Output

Following stimulation work completed on September 3, 2026 on two water injection wells, Bretana's water injection capacity has averaged just over 190,000 barrels per day — a 9% increase compared to the August 2026 monthly average. The release states this effort is part of a broader initiative targeting total injection capacity of 320,000 barrels per day by the end of 2028. Supported by these improvements, Bretana field production averaged 11,960 bopd in September, contributing to total group production of 12,286 bopd month-to-date, representing an increase of approximately 600 bopd compared to the prior month.

Drilling Inventory and Bretana's Long-Term Reserve Exploitation Path

PetroTal's announcement highlights a remaining drilling inventory of 22 locations at Bretana, underpinning the company's stated confidence in fully exploiting the field's 2P reserves of 106 million barrels. The disclosure suggests that well 25H is positioned as the opening move in a multi-well program aimed at systematically rebuilding production capacity. The immediate share price impact was not clear from available public information. Investors may be watching how drilling results from well 25H, expected within approximately eight weeks, influence the pace of the broader development programme.