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Stock Market & Financial Investment News

News Breaks
July 1, 2014
17:59 EDTGTEGran Tierra COO Shane O’Leary to retire, Duncan Nightingale to succeed
In a regulatory filing, Gran Tierra announced that Shane O’Leary, COO of Gran Tierra Energy, informed the board of Gran Tierra Energy of his definitive determination to retire. Gran Tierra Energy and O’Leary currently expect that O’Leary will cease to be COO on September 1, that his retirement date will be October 1, and that O’Leary will continue as a consultant to Gran Tierra Energy from October 1 to December 31, pursuant to a consulting agreement to be negotiated. The consulting agreement will contain an option to extend the consulting period for a period not to exceed three months upon the mutual agreement of the parties. Effective on the date O’Leary ceases to be COO, Duncan Nightingale, president of Gran Tierra Energy Colombia will become Gran Tierra Energy’s COO. It is currently contemplated that Nightingale will cease to be president of Gran Tierra Energy Colombia on August 1, to allow him to prepare for the role of COO.
News For GTE From The Last 14 Days
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June 25, 2015
10:00 EDTGTEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AT&T (T) upgraded to Buy from Neutral at BofA/Merrill... Eli Lilly (LLY) upgraded to Buy, added to US 1 List at BofA/Merrill... Finish Line (FINL) upgraded to Buy from Neutral at B. Riley... Gran Tierra (GTE) upgraded to Buy from Hold at Canaccord... Greenhill & Co. (GHL) upgraded to Buy from Sell at Goldman... Magnum Hunter (MHR) upgraded to Equalweight from Underweight at Capital One... Marathon Oil (MRO) upgraded to Buy from Neutral at UBS... Newpark Resources (NR) upgraded to Strong Buy from Outperform at Raymond James... Office Depot (ODP) upgraded to Outperform from Market Perform at Telsey Advisory... Quanex (NX) upgraded to Outperform from In-Line at Imperial Capital... Vestas Wind (VWDRY) upgraded to Outperform from Neutral at Exane BNP Paribas... Web.com (WWWW) upgraded to Buy from Neutral at B. Riley... NRG Yield upgraded to Outperform from Market Perform at Avondale.
06:31 EDTGTEGran Tierra upgraded to Buy from Hold at Canaccord
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June 24, 2015
17:32 EDTGTEGran Tierra increases 2015 capital program and increases production outlook
Gran Tierra increased its 2015 capital program by $45M to $185M. The increased capital is intended to provide accelerated development drilling at the company's core producing assets in the Putumayo Basin in Colombia and accelerate the required laboratory and feasibility studies for enhanced oil recovery techniques in the Costayaco and Moqueta fields. During Q1, the company incurred $74M of the $140M 2015 capital program. The allocation of capital includes a $55M increase to $115M directed at Colombia development, at negotiated reduced services costs. These drilling programs are expected to continue into 2016. Peru's capital program has been reduced to $49M, of which $11M is expected to be incurred during the remainder of 2015. Brazil's capital program has been reduced to $20M of which $6M is expected to be incurred during the remainder of 2015. With the revised capital program, Gran Tierra expects 2015 gross working interest production of 22,500-23,500 BOEP/D from 21,800-22,300 BOEP/D under the previous capital program, or 18,400-19,400 BOEP/D net after royalty from 18,200 BOEP/D under the previous capital program. Production from Colombia is expected to be 17,850 BOEPD NAR.

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