Current Colombia Production Averaging 18,000 Barrels of Oil per Day Net After Royalty CALGARY, Aug. 18 /PRNewswire-FirstCall/ -- Gran Tierra Energy Inc. (AMEX: GTE; TSX: GTE), a company focused on oil exploration and production in South America, today announced that it has resumed regular production operations in the Putumayo Basin of Southern Colombia. Crude oil transportation operations on the Ecopetrol-operated Trans Andean Pipeline resumed on August 10, 2009. Gran Tierra Energy subsequently restored production in Colombia over several days and is currently averaging approximately 21,770 barrels of oil per day (BOPD) gross, or 18,000 BOPD net after royalty. During the 32 days of reduced production due to pipeline repairs, from July 10, 2009 to August 10, 2009, oil production averaged approximately 6,500 BOPD gross. Over the same period oil sales averaged 3,440 BOPD net after royalty. Additional royalties are expected for the Costayaco field once cumulative production reaches five million barrels of oil late in the third quarter of 2009. With these additional royalties taken into account, Gran Tierra Energy remains on track to produce at its previously announced rate of 14,000 to 16,000 BOPD net after royalty in the fourth quarter of this year. Production sales in Argentina averaged approximately 950 BOPD net after royalty from July 10, 2009 to August 10, 2009, and are approximately at this same level now. About Gran Tierra Energy Inc. Gran Tierra Energy Inc. is an international oil and gas exploration and production company, headquartered in Calgary, Canada, incorporated in the United States, trading on the NYSE Amex Exchange (GTE) and the Toronto Stock Exchange (GTE), and operating in South America. Gran Tierra Energy holds interests in producing and prospective properties in Argentina, Colombia and Peru. Gran Tierra Energy has a strategy that focuses on establishing a portfolio of producing properties, plus production enhancement and exploration opportunities to provide a base for future growth. Additional information concerning Gran Tierra Energy is available at http://www.grantierra.com/. Forward-Looking Statements: The statements in this news release regarding Gran Tierra Energy's belief with respect to expected royalties and that it is on track to achieve 14,000 to 16,000 BOPD net after royalty production in the fourth quarter of this year are forward-looking statements or financial outlook (collectively, "forward-looking statements") under the meaning of applicable securities laws, including Canadian Securities Administrators' National Instrument 51-102 Continuous Disclosure Obligations and the United States Private Securities Litigation Reform Act of 1995. These statements are subject to risks, uncertainties and other factors that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements, including, among others: Gran Tierra Energy's operations are located in South America, and unexpected problems can arise due to guerrilla activity, technical difficulties and operational difficulties which impact its testing and drilling operations and the production, transport or sale of its products; geographic, political and weather conditions can impact testing and drilling operations and the production, transport or sale of its products; and the risk that the current global economic and credit crisis may impact oil prices and oil consumption more than Gran Tierra Energy currently predicts, which could cause Gran Tierra Energy to modify its production activities. Further information on potential factors that could affect Gran Tierra Energy are included in risks detailed from time to time in Gran Tierra Energy's Securities and Exchange Commission filings, including, without limitation, under the caption "Risk Factors" in Gran Tierra Energy's Quarterly Report on Form 10-Q filed August 10, 2009. These filings are available on a Web site maintained by the Securities and Exchange Commission at http://www.sec.gov/ and on SEDAR at http://www.sedar.com/. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this press release are made as of the date of this press release and Gran Tierra Energy disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. DATASOURCE: Gran Tierra Energy Inc. CONTACT: For media and investor inquiries please contact Thomas McMillan, Equicom Group, 1-866-973-4873, (403) 536-5903,

Copyright