UPDATE: Gran Tierra Posts Lower Q2 Profit

Gran Tierra Energy

reported a drop in its second-quarter profit. Gran Tierra's quarterly profit dropped to $13.1 million, or $0.05 per share, from $31.6 million, $0.11 per share, in the year-ago period. Its revenue and other income dropped 29% to $115.2 million. Gran Tierra's production declined 22% to 16,306 barrels of oil equivalent per day. Gran Tierra shares closed at $4.48 yesterday.