Gran Tierra Energy Inc. Announcing the Closing of a Strategic Joint Operations and Partnership with Logan Energy Corp. to Accelerate Value of Canadian Montney’s High-Impact Oil Play

Article content

CALGARY, Alberta, Dec. 17, 2024 (GLOBE NEWSWIRE) — The company Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) is pleased to announce that Gran Tierra (in the form of a wholly-owned subsidiary) has completed the previously announced trade and strategic partnership (the “What is being done”) and Logan Energy Corp. (“Logan”) (TSXV:LGN). Pursuant to the Transaction, Gran Tierra and Logan entered into a purchase and sale agreement in which Logan acquired a 50% working interest in and the operation of a portion of Gran Tierra’s property owned by Simonette Montney (the “Goods”) for approximately C$52 million, subject to general adjustments. Gran Tierra will retain the remaining 50% working interest in the Properties.

Article content

Article content

Article content

The transaction is expected to provide a growth-oriented platform for the development of Montney by Gran Tierra and is consistent with the Company’s business strategy to create long-term value.

Contact person
Information

For investor and media inquiries please contact:

Gary Guidry
President and CEO

Ryan Ellison
Executive Vice President and Chief Financial Officer

+1-403-265-3221
info@grantierra.com

About
Grandma
Tierra
Power
Inc.

Gran Tierra Energy Inc. and its subsidiaries is a privately held international energy company currently engaged in the exploration and production of oil and natural gas in Canada, Colombia and Ecuador. The Company is currently developing its property portfolio in Canada, Colombia and Ecuador and will continue to pursue new growth opportunities that will further strengthen the Company’s portfolio. The Company’s common stock trades on the NYSE American, the Toronto Stock Exchange and the London Stock Exchange under the ticker symbol GTE. More information about Gran Tierra is available at www.grantierra.com. Unless otherwise expressly stated, information on the Company’s website or accessible from our website or any other website is not incorporated by reference and should not be considered a part of this press release. Investor inquiries may be directed to info@grantierra.com or (403) 265-3221.

Article content

Article content

The Securities and Exchange Commission of Gran Tierra (the “SEC”) filings are available on the SEC’s website on the Company’s Canadian securities filings are available on SEDAR+ in the UK and official UK filings are available on the National Storage Mechanism website at https://data.fca.org.uk/#/nsm/ storage method.

Forward–To look
Statements
again
Legal
Tips:

This press release contains opinions, forecasts, assumptions, and other statements about future events or results that constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended. , and Section 21E of the Securities Exchange Act of 1934, as amended, and financial opinion and forward-looking information within the meaning of applicable Canadian securities laws (collectively, “looking ahead
statements“). Forward-looking statements often use words such as “anticipate”, “target”, “anticipate”, “estimate”, “intend”, “plan”, “strategy”, “focus”, “envision”, “intend”, ” believe”, “hope”, “intend”, “continue”, “will”, “may”, “should”, “may”, “might”, or other similar words meaning. In particular, but without limiting the foregoing, this press release contains forward-looking statements regarding the benefits of the Transaction and Gran Tierra’s business strategies, plans and objectives. The forward-looking statements contained in this press release reflect material facts, expectations and assumptions of Gran Tierra including, without limitation, that Gran Tierra will continue to perform its operations in a manner consistent with its current expectations, the performance of Logan as an operator of the Assets, and the ability of Gran Tierra to implement its business and operational plans as currently planned.

Article content

Among the important factors that could cause our actual results to differ materially from the forward-looking statements in this press release include, but are not limited to, Logan’s performance as an operator that differs from the Company’s current expectations and factors detailed from time to time in Gran Tierra’s periodic reports filed with the Securities and Exchange Commission, including, without limit, under the caption “Risk Factors” in Gran Tierra’s Annual Report on Form 10-K for the year ended December 31, 2023 filed February 20, 2024, and other filings with the SEC. This filing is available on the SEC’s website at and on SEDAR+ at www.sedarplus.ca.

The forward-looking statements contained in this press release are based on certain assumptions made by Gran Tierra based on management’s experience and other factors believed to be relevant. Gran Tierra believes that these assumptions are reasonable at this time, but forward-looking statements are subject to risks and uncertainties, many of which are beyond Gran Tierra’s control, which could cause actual results to differ materially from those expressed or implied by the forward-looking statements. – visual statements. Each forward-looking statement speaks only as of the date of this announcement. Gran Tierra disclaims any intention or obligation to update or correct the information contained in this announcement (whether due to new information, future events or otherwise), unless required by applicable law or the rules of any competent regulatory authority.

Article content