Colombia

Gran Tierra Energy is one of the most successful independent oil and gas companies to have entered Colombia in recent years. Net production has grown from approximately 700 barrels of oil per day in 2006 to approximately 15,000 (NAR) barrels of oil per day in 2010. This growth has been driven by exploration and subsequent development success, including the discovery of the Costayaco field, one of the largest oil discoveries in Colombia in the last decade. Today, Gran Tierra Energy holds an interest in 19 Blocks in Colombia, including 3 Blocks awarded at the 2010 Open Round in Cartagena which are pending ANH approval. Gran Tierra Energy is now the largest producer, the largest reserve holder and the largest exploration landholder in the Putumayo Basin of southern Colombia, and will be undertaking an aggressive exploration drilling program in 2011 with the intent to continue growing reserves and production.