Exploration
Gran Tierra Energy’s Moqueta discovery continued to be the focus of the drilling program in 2013 as we completed and tested our 12th well in the field. Adding to our drilling success, production from the field continues to contribute to Gran Tierra Energy's strong cash flow generated by our assets in Putumayo Basin in 2013.
Gran Tierra Energy made two other discoveries in Colombia in 2013. These discoveries are located on the Guayuyaco Block in the Putumayo Basin and in the Llanos-22 Block in the Llanos Basin. These important discoveries continue to validate Gran Tierra Energy’s Colombian strategy and potential.
BLOCKS
22
GROSS ACRES(MILLIONS)
4.3
NET ACRES(MILLIONS)
3.7
2013 Production
18,584
BOEPD NAR
Proved Reserves (NAR)
36.0MMBOE
PROVED + PROBABLE (NAR)
44.5MMBOE
PROVED + PROBABLE + POSSIBLE (NAR)
57.5MMBOE
Exploration
Gran Tierra Energy more than doubled its production from the Recôncavo Basin in 2013 while continuing to expand its core operating area with the addition of three new blocks. These new blocks are located near Gran Tierra Energy’s existing assets and the Company holds a 100% operated working interest in these blocks.
BLOCKS
7
GROSS ACRES(000s)
48
NET ACRES(000s)
48
2013 Production
655
BOEPD NAR
Proved Reserves (NAR)
1.7MMBOE
PROVED + PROBABLE (NAR)
3.3MMBOE
PROVED + PROBABLE + POSSIBLE (NAR)
5.0MMBOE
Exploration
In Argentina, Gran Tierra Energy continued to focus on developing its producing fields, the Surubi and Puesto Morales fields.
Gran Tierra Energy continues to utilize proven North American technologies to develop Latin America fields. On the Puesto Morales Block, Gran Tierra Energy successfully drilled a horizontal multi-stage fracture stimulated well into the Loma Montosa formation to evaluate this new play.
BLOCKS
11
GROSS ACRES(MILLIONS)
1.3
NET ACRES(MILLIONS)
0.9
2013 Production
3,028
BOEPD NAR
Proved Reserves (NAR)
4.4MMBOE
PROVED + PROBABLE (NAR)
6.5MMBOE
PROVED + PROBABLE + POSSIBLE (NAR)
16.7MMBOE
Exploration
Gran Tierra Energy’s most significant highlight in 2013 was the discovery from the Bretaña Norte 95 well on Block 95. This discovery is expected to underpin a full field development program for the next decade. Gran Tierra Energy plans to begin its largest capital program in Peru with a goal of adding Peru as its fourth producing Latin American country to the Company’s proven production base.
BLOCKS
5
GROSS ACRES(MILLIONS)
5.8
NET ACRES(MILLIONS)
5.8
Gran Tierra Energy expects to generate long-term test ("LTT") production from the Bretaña Norte 95-2-1XD well starting in the fourth quarter of 2014 at a rate of approximately 2,500 barrels of oil per day gross. The LTT is expected to provide valuable information on the reservoir and operating environment with the goal of optimizing further field development.
Proved + Probable (NAR)
57.6MMBO
PROVED + PROBABLE + POSSIBLE (NAR)
