Gran Tierra to test Costayaco-3

Gran Tierra Energy Inc. has begun testing operations on Costayaco-3, a new well drilled in the recently discovered Costayaco Field. In parallel, Gran Tierra Energy’s exploration operations are advancing in Colombia, Peru, and Argentina.

Gran Tierra Energy commenced testing operations for Costayaco-3, the third well drilled in the Costayaco field, a new oil field discovered in 2007, on March 19. The Costayaco field is located in the Chaza Block in the Putumayo Basin, where Gran Tierra Energy has a 50% interest and is the Operator; Solana Resources holds the remaining 50% interest. The well drilled through the same reservoir sequences encountered in Costayaco-1 and -2, reaching a total depth of 8,620 feet on February 20.

Initial log interpretations from data acquired during drilling indicate potential hydrocarbon pay in the Kg Sand Unit of the Rumiyaco Formation, the U Sandstone Unit of the Villeta Formation, the T Sandstone Unit of the Villeta Formation and the Caballos Formation. Good oil shows were encountered through these reservoir sections. Gran Tierra Energy has interpreted a potential oil-water contact from logs at a depth of 8511 feet measured depth (-7260 feet subsea) in the lower Caballos Formation, approximately 34 feet lower than the lowest known oil in Costayaco-2. No evidence of an oil-water contact has been identified in the other potential pay zones.