Mr. Gary Guidry reports

GRAN TIERRA ENERGY INC. ANNOUNCES NEW $200 MILLION PREPAYMENT AND MARKETING AGREEMENT AND AMENDMENT TO RESERVE-BASED CREDIT FACILITY

Gran Tierra Energy Inc. has, through its wholly owned subsidiary Gran Tierra Energy Colombia GmbH, a Swiss limited liability company (the seller), entered into a crude oil sale and purchase agreement and a related prepayment addendum.

Under the Oriente crude oil agreements, the seller will receive an initial advance in an aggregate amount not to exceed $150-million and may receive an additional advance of up to $50-million, subject to certain conditions. These advances will be satisfied by scheduled deliveries of the seller's Ecuadorian Oriente crude oil production. Proceeds from these prepayments are to strengthen the company's balance sheet and enhance financial flexibility.

In connection with the execution of the Oriente crude oil agreements, Gran Tierra has further optimized its capital structure by amending its Colombian credit facility. The amendment, among other things, consents to and permits the seller and the company to execute and perform the Oriente crude oil agreements, reduces the borrowing base under the credit agreement from its then-current amount of $75-million to $60-million and adjusts certain financial covenants to account for the prepayment structure.

Ryan Ellson, chief financial officer of Gran Tierra, commented today:

"The prepayment agreement we signed today enhances Gran Tierra's financial flexibility and further strengthens our capital structure. Securing this agreement in this current market environment demonstrates the strong confidence our partners have in Gran Tierra's operations and underscores our position as a premier operator in Ecuador and a reputable international producer. We remain fully committed to maintaining financial discipline and generating sustainable free cash flow through low-decline and high-netback production along with prudent capital allocation."

About Gran Tierra Energy Inc.

Gran Tierra Energy, together with its subsidiaries, is an independent international energy company currently focused on oil and natural gas exploration and production in Canada, Colombia and Ecuador. The company is currently developing its existing portfolio of assets in Canada, Colombia and Ecuador, and will continue to pursue additional new growth opportunities that would 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.

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