Gran Tierra Energy Ord Shs T.GTE

RE:RE:RE:RE:RE:RE:GTE misleads regarding PTA's 2P Reserves

[Garymorre]

From the press release:

"Gran Tierra will also be assuming the net positive working capital of Petroamerica, estimated at $25 million as at October 31, 2015, after accounting for severance and transaction costs, and including previously restricted cash which Gran Tierra expects to replace with letters of credit."

I have provided an explanation as to why no reserves are attributed to the assets acquired from PNA.  (The net reserves are less than 3.2MM boe, after royalty and production).  Any comparison with PRE and ECP is irrelevant and naive on your part.  Colombia only requires that 51-101 complaint reserves reports are prepared on an annual basis with a reference date of 31 December, and to be submitted by 31 March following.  Thus, all current reserves reports use reference prices prevailing at that date.  Also, PRE have hedged a lot of their 2015/6 production so their reserves reports are affected less by the fall in the oil price.  

I am not going to get embroiled in endless arguments with you.  I respect you right to have a viewpoint, however wrong it may be.

And you mention inaccuracies, I see none and I guess you mean facts and opinions that differ from yours.