Gran Tierra Energy Inc. announced successful bids on three blocks in the recently completed 2013 Brazil Bid Round administered by Brazil's Agência Nacional de Petróleo, Gás Natural e Biocombustíveis (ANP). The open and competitive process was available to those pre-qualified by the ANP and successful bid contracts are expected to be finalized by August, 2013.

"Gran Tierra Energy has made a commitment to building a business in Brazil, initially by successfully developing the Tiê conventional oil discovery in the onshore Recôncavo Basin, growing production from approximately 400 barrels of oil per day gross, to approximately 1,000 barrels of oil per day gross currently," said Dana Coffield , President and Chief Executive Officer of Gran Tierra Energy Inc. "In addition, we have initiated a new technology application in Brazil, horizontal drilling with multi-stage fracture stimulation in tight oil-bearing reservoirs. We are extremely pleased to have successfully captured three new blocks which significantly increases the acreage we have to refine the technology and pursue this play in the coming years in the event of success."

Tags: Gran Tierra Energy Inc.