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April 17, 2013
07:14 EDTGTEGran Tierra Energy reports record quarterly production of 21,860BOEPD
Gran Tierra Energy provided updates for its production and exploration drilling in Colombia, Peru and Brazil. Average daily consolidated light and medium crude oil and natural gas production Net After Royalty - NAR - before inventory adjustments for the three months ended March 31 increased 21% to approximately 21,860 barrels of oil equivalent per day - BOEPD - NAR. Approximately 97% was oil and natural gas liquids. Average daily Colombian production of light and medium crude oil and natural gas for the three months ended March 31 increased 18% to 17,850 BOEPD NAR before inventory adjustments. The production is primarily from the Costayaco and Moqueta fields in the Chaza Block in which Gran Tierra Energy has a 100% working interest. Colombia's Moqueta-9D appraisal well was spud on January 20. The Moqueta-10 well has begun drilling. This well will be followed by Moqueta-11, which is planned to be a production well. In Peru's Block 95, with a 100% working interest, Gran Tierra Energy has initiated drilling of the horizontal side-track extension of the Breta a Norte 95-2-1XD oil discovery well. Plans are ongoing to initiate long-term testing from this horizontal well, with production to be initiated within a year. In Brazil's Block 142 with 100% working interest and operator, Gran Tierra Energy's horizontal multi-stage fracture stimulation exploration drilling program in the Rec ncavo Basin onshore Brazil is ongoing, with results of the program expected mid-year.
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August 7, 2014
05:38 EDTGTEGran Tierra reports Q2 EPS 3c, consensus 14c
Reports Q2 revenue $148.5M, consensus $168.84M. Quarterly oil and natural gas production net after royalties, or NAR, adjusted for inventory changes and losses, and including volumes associated with the discontinued operations of the Argentina business unit, of 20,121 BOEPD, was an 8% decrease from production of 21,819 BOEPD for the three months ended March 31, and represents a decrease of 9% from 22,131 BOEPD in the comparable period in 2013. In 2014, an inventory increase in Colombia due to pipeline disruptions and deliveries to a new customer with a protracted sales cycle accounted for reduced production of 0.2M barrels or 1,293 BOEPD. Gran Tierra Energy expects to sell this additional inventory during Q3.

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