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Stock Market & Financial Investment News

News Breaks
June 2, 2014
19:05 EDTGTEGran Tierra seeing if Zapotero-1 can be converted to water injection well
Gran Tierra Energy provided an operations update for its 2014 work program. "Gran Tierra Energy's 2014 drilling campaign is well under way, and initial well test results are providing valuable insights for the Bretaņa and Moqueta oil fields in Peru and Colombia," said CEO Dana Coffield. "Testing of the newly-drilled Bretaņa water disposal well indicates moveable oil saturation in the transition zone where no reserves had been assigned previously, with potential for adding substantial additional recoverable resources in the field. Completion of the well also keeps us on track to initiate the Long Term Test in the fourth quarter of this year. The Zapotero-1 well was drilled approximately 2,000 feet lower than the lowest known oil on the Moqueta structure. The Zapotero-1 well tested three zones that resulted in produced water. We are currently investigating if the Zapotero-1 well can be converted to a water injection well to maintain reservoir pressure at the Moqueta field to enhance production in the field. This well result also assists in planning the target depth for the Corunta exploration well that will be drilled on the opposite flank of Moqueta later this year. The well will target an intermediate depth, below the lowest known oil in the Moqueta field and shallower than the reservoirs in Zapotero-1, to further define the oil-water contact location and ultimate size of the Moqueta oil accumulation," concluded Coffield.
News For GTE From The Last 14 Days
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January 26, 2015
10:00 EDTGTEOn The Fly: Analyst Downgrade Summary
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06:16 EDTGTEGran Tierra downgraded to Neutral from Outperform at Credit Suisse
Credit Suisse downgraded Gran Tierra to Neutral following disappointing well results at Bretana Sur and lower commodity price forecasts. Price target cut to $3 from $5.
January 21, 2015
10:01 EDTGTEOn The Fly: Analyst Downgrade Summary
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09:08 EDTGTEGran Tierra downgraded to Sector Perform from Outperform at Scotia Capital
07:55 EDTGTEGran Tierra upgraded to Buy at Canaccord
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06:32 EDTGTEGran Tierra downgraded to Neutral from Overweight at HSBC
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06:17 EDTGTEGran Tierra upgraded to Buy from Hold at Canaccord
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January 20, 2015
09:09 EDTGTEGran Tierra reports 2014 production from continuing ops averaged 25,200 BOEPD
Gran Tierra Energy reports oil and natural gas production from continuing operations averaged approximately 25,200 barrels of oil equivalent per day gross working interest in 2014, or approximately 19,300 BOEPD net after royalties before adjustment for inventory changes and losses, or approximately 18,500 BOEPD NAR adjusted for inventory changes and losses. Approximately 99% of the 2014 production is oil, with the balance consisting of natural gas.
January 16, 2015
11:31 EDTGTEGran Tierra upgraded to Buy from Hold at Canaccord
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