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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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May 18, 2015
10:01 EDTGTEOn The Fly: Analyst Downgrade Summary
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06:18 EDTGTEGran Tierra downgraded to Sell from Neutral at Goldman
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May 11, 2015
05:31 EDTGTEGran Tierra appoints Ryan Ellson as CFO
Gran Tierra Energy announced the appointment of Ryan Ellson as CFO. Most recently Ellson was Head of Finance for Glencore E&P. Ellson succeeds James Rozon. James will continue with the company to assist with a smooth transition.

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