Gran Tierra Energy Confirms Significant Reserves at Bretaña Oil Field, Peru
Gran Tierra Energy (NYSE MKT: GTE) today announced the results of a qualified independent reserve
evaluation of the company's Peru reserves by GLJ Petroleum Consultants
Ltd. ("GLJ") effective December 31, 2013.
"Gran Tierra Energy has successfully booked significant reserves at the
Bretaña field in Peru. On a proved plus probable ("2P") and proved plus probable plus possible ("3P") basis, the Bretaña field reserves nearly double the total corporate
2P and 3P reserves booked at year-end 2012. We are currently planning
on initiating long-term test production from this field beginning in
September 2014, with an appraisal well planned to be drilled in the
fourth quarter of this year in the southern portion of the Bretaña
field," said Dana Coffield, President and Chief Executive Officer of
Gran Tierra Energy.