Key Developments: Gran Tierra Energy Inc (GTE)
10 Dec 2013
Latest Key Developments (Source: Significant Developments)
Gran Tierra Energy Inc:Sees fiscal 2014 production to average between 30,000 and 31,000 barrels of oil equivalent per day (BOEPD). Full Article
Gran Tierra Energy Inc revised its fiscal 2013 average production projections upwards for the second time this year, to range between 21,500 and 22,500 BOEPD NAR before inventory adjustments. Full Article
Gran Tierra Energy Inc announced that for fiscal 2013 average production to range between 21,500 and 22,500 BOEPD NAR before adjustment for inventory changes, an increase from the Company's prior projections of 21,000 to 22,000 BOEPD NAR before adjustment for inventory changes. Approximately 96% of this production is expected to consist of light oil, with the balance consisting of natural gas. Full Article
Global Energy Development PLC's Subsidiary Closes Sale Of Remaining Interest In Peru Block 95 Contract To Gran Tierra Energy, Inc.
Global Energy Development PLC announced it has closed on the sale of its remaining 40% working interest of the Peruvian Block 95 License Contract (Block 95) through its wholly-owned subsidiary to Gran Tierra Energy, Inc. Under the terms of the purchase and sale agreement, the Company sold its 40% working interest to GTE for cash consideration of $5.4 million with $2 million payable upon closing and the remaining $3.4 million payable upon the earlier of either approval of the assignment from Perupetro, Peru's national agency of hydrocarbons, or one year from the closing date. The effective date of the sale is June 1, 2012. The proceeds from the sale will be used for working capital generally. Full Article