Gran Tierra Energy Inc. provided updates for its operations in Colombia, Argentina and Peru.
Block 95, Marañon Basin (Gran Tierra Energy 100% WI and operator subject to PeruPetro S.A. and Peruvian Government approvals)
Gran Tierra Energy Peru S.R.L. has entered into an agreement to purchase the remaining 40% working interest in Block 95 from Global Energy Development PLC. Subject to PeruPetro S.A. and Peruvian Government approvals, Gran Tierra Energy will have a 100% working interest in Block 95.
In addition, Gran Tierra Energy announces the results of a contingent gross lease resource estimate for an oil discovery on Block 95, provided by its independent reserves auditor, GLJ Petroleum Consultants ("GLJ") effective June 1, 2012. The resource estimate has been prepared in compliance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities and the Canadian Oil and Gas Evaluation Handbook.