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PetroTal Renews Share Buyback Program; Names New COO and Chief Legal Counsel
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PetroTal Renews Share Buyback Program; Names New COO and Chief Legal Counsel
May 22, 2024 8:54 AM

11:44 AM EDT, 05/22/2024 (MT Newswires) -- PetroTal ( PTALF ) said Wednesday it renewed its normal-course issuer bid to buy back and cancel about US$12 million of its shares per quarter over the next 12 months.

The company plans to buy back nearly 14.6 million shares, representing about 2% of its outstanding shares as of May 10. Purchases can start on May 24 and ending on May 23, 2025.

The company also said it promoted Jose Contreras to chief operating officer, effective March 31. Contreras previously served as senior vice president of operations.

It named Sudan Maccio as chief legal counsel and corporate secretary, effective May 15. Maccio previously served as general counsel and corporate secretary of Ecopetrol USA.

Contreras will oversee all of PetroTal's ( PTALF ) operations and lead the overall operational growth strategy for the company.

PetroTal ( PTALF ) shares were last seen down $0.005 to $0.795 on the Toronto Stock Exchange.

Price: 0.80, Change: -0.01, Percent Change: -0.63

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