• Participation – Gran Tierra 100%
• Area – 21,745 acres

Gran Tierra Energy acquired its 100% interest at Ipaguazu in two transactions, in September 2005 and in November 2006. The Ipaguazu oil and gas field was discovered in 1981 and produced approximately 100 thousand bbl oil and 400 mmcf natural gas until 2003. The field is currently shut in.

Santa Victoria

• Participation – Gran Tierra 100%
• Area – 1,033,642 acres

Gran Tierra Energy acquired its interest in Santa Victoria in November 2006. Santa Victoria covers a large area in the Noroeste Basin, providing a significant base for further assessment