09:46 AM EST - PetroTal Corp. : Has entered into an arrangement with PETROPERU S.A. The arrangement will result in the Company’s liability to Petroperu in relation to the recent oil price movements being payable over a three year period, rather than at the point of sale of the oil. The arrangement has been structured to minimize the impact of the recent oil price decline on the Company’s cash flows and forward plans, whilst allowing the Company to benefit from any future increase in oil prices when physical oil sales occur. As announced in May the liability relates to the oil price differential between the date that oil enters the Northern Oil Pipeline and the current oil price. PetroTal Corp.
shares V.TAL are trading up $0.02 at $0.21.
