Gran Tierra Energy Ord Shs T.GTE

Alternate Symbol(s): GTE

Energy Oil & Gas E&P

Gran Tierra Energy Inc. is an independent international energy company. The Company is focused on international oil and natural gas exploration and production with assets in Colombia and Ecuador. The Company has interests in approximately 22 blocks in Colombia, three blocks in Ecuador, and is the operator of 24 of these blocks. Its assets in Colombia represent approximately 97% of its production with oil reserves and production located in the Middle Magdalena Valley (MMV) and Putumayo Basin. In MMV, the Company’s field is the Acordionero field, where it produces approximately 17-degree American Petroleum Institute (API) oil, which represents 52% of total company production. The Putumayo production is approximately 27-degree API for Chaza Block and 18-degree API for Suoriente Block, representing 25% and 13% respectively, of total company production. It also has production base in Canada's hydrocarbon region, the Western Canadian Sedimentary Basin and appraisal assets in the North Sea.

TSX:GTE - Post by User

Gran Tierra Energy Ord Shs > 2024-07-31 18:00 ET - News Release

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Comment by monte8on Aug 27, 2024 11:30am

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Post# 36197736

RE:2024-07-31 18:00 ET - News Release

Livent 14, some comments to your News Release points:
High Impact Exploration Program Continues to Deliver Exciting Catalysts for Growth with the Completion of the Charapa 3D Seismic Program Along with Drilling of the Bocachico Norte-J1 and Charapa B6 Wells None of this "good news" reflected in the share price.
Arawana-J1 and Bocachico-J1 Wells Continue to Yield Strong Production Results and Continued Positive Exploration Results with Bocachico Norte-J1
Second Quarter 2024 Total Average WI Production of 32,776 BOPD, a 4% Increase in Production per Share from Second Quarter 2023 This production rate has been there and about like, forever!
Since January 1, 2023, Gran Tierra has Re-purchased Approximately 3.9 million or 11% of Its Outstanding Shares I'm a bit disappointed with their decision to re-purchase shares since early 2023 that had done nothing to increase the share price. Further burden on shareholders was the 10:1 roll-back shares which killed any momentum.
Grand Tierra should have used that money for a special one-time dividend to incentivize long-term shareholders.

Alternatively, they could have distributed 50% of that cash as a one-time special dividend and used the other 50% for share buybacks.

Achieved Second Quarter 2024 Net Income of $36 Million Gone
Operating Netback of $113Million and Adjusted EBITDA of $103 Million(1)(3)
Exited the Quarter with $115 Million in Cash This cash is now gone on the i3 Energy aquisition.