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material quality of life enhancement to the com- Stock Exchange (TSX) will be paid in Canadian
PIPELINES & TRANSPORT munities of the Puinahua District.” Dollars (CAD) on January 16, 2023.
PetroTal is a publicly traded, tri-quoted oil For shareholders trading on the Colombia
PetroTal issues and gas development and production Com- Stock Exchange (BVC), the Colombian peso
pany domiciled in Calgary, Alberta, focused on equivalency shall be calculated based on the
corporate update the development of oil assets in Peru. PetroTal’s exchange rate as certified by the Banco de la
flagship asset is its 100% working interest in Republica (Central Bank) on the date of monet-
regarding river access Bretana oilfield in Peru’s Block 95 where oil pro- isation and will be published accordingly on the
duction was initiated in June 2018. In early 2020, SIMEV website.
PetroTal is pleased to announce the following PetroTal became the largest crude oil producer Shares traded on the Toronto Stock
corporate update. in Peru. The Company’s management team has Exchange: Form NR301 will be mailed to Reg-
River Transportation Reopened: On Decem- significant experience in developing and explor- istered non-resident shareholders as at the div-
ber 14, 2022, the Asociacion Indigena de ing for oil in Peru and is led by a Board of Direc- idend record date, by Olympia Trust Company,
Desarrollo y Conservacion de Bajo Puinahua tors that is focused on safely and cost effectively Canacol’s transfer agent. In order to receive the
(AIDECOBAP) removed the river blockade developing the Bretana oilfield. It is actively preferred treaty rate, you must complete and
to allow oil barge transportation access in and building new initiatives to champion commu- mail back the form as soon as possible. Failure
out of the Company’s operating area coinciding nity sensitive energy production, benefiting all to supply a completed NR301 form will result in
with positive working table discussions held on stakeholders. Olympia withholding the statutory 25% with-
December 14, 2022, where the Junta of Author- PetroTal, December 15 2022 holding tax rate on any payments to Registered
ities of Puinahua, Perupetro, and PetroTal also non-resident shareholders. If you have previ-
participated. ously completed Form NR301, you do not need
Production Ramp Up To Commence Imme- INVESTMENT to complete a new form.
diately: With the reopening of river access, the Instructions on how to correctly complete the
Brazilian export route is now available. Produc- Canacol Energy NR301 are on the back of the form. Shareholders
tion ramp up will commence immediately over who hold their shares through a broker should
the next few days and is expected to again reach announces dividend contact their broker directly. They do not need
approximately 18,000 barrels per day (bpd) of to return a form to Olympia.
oil for the remainder of December 2022. Inclu- Canacol Energy announced that it has declared Shares traded on the Colombia Stock
sive of social downtime since late November, the a dividend of CAD0.052 per share, payable on Exchange: Dividend payments will be subject
Company estimates Q4 2022 oil production lev- January 16, 2023, to shareholders of record at to withholding at the Canadian statutory rate of
els to average between 8,500 and 9,500 bpd of oil. the close of business on December 29, 2022. 25%. Shareholders who are entitled to a reduced
Manuel Pablo Zuniga-Pflucker, President This dividend qualifies as an “eligible dividend” withholding tax rate under a tax treaty should
and CEO, commented: “We are pleased the for Canadian income tax purposes. The decla- contact their broker or nominee to submit Form
Puinahua Channel has reopened and believe ration, timing, amount and payment of future NR301 (English version). Brokers should submit
the forthcoming addendum incorporating the dividends remain at the discretion of the Board Form NR301 on behalf of their shareholders to
2.5% Social Trust Fund to the Block 95 License of Directors. Deposito Centralizado de Valores (Deceval) as
Contract will provide long term stability and a Dividends on shares traded on the Toronto soon as possible. If you have previously com-
pleted Form NR301, you do not need to com-
plete a new form.
The content contained herein is not tax
advice. Do not use or otherwise rely upon any
of the content without first seeking independent
tax advice.
About Canacol: Canacol is a natural gas
exploration and production company with
operations focused in Colombia. The Corpora-
tion’s common stock trades on the Toronto Stock
Exchange, the OTCQX in the United States of
America, and the Colombia Stock Exchange
under ticker symbol CNE, CNNEF, and CNEC,
respectively.
Canacol Energy, December 14 2022
Houston American Energy

increases interest in
Colombian CPO-11 project

Houston American Energy has announced the
acquisition of an additional interest in Hupecol
Meta LLC.

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