Market Impact: Positive. Gran Tierra has entered into an agreement with PetroGranada Ltd. (private) to acquire PetroGranada Colombia Ltd.'s issued and outstanding shares for US$19 mm. Gran Tierra will acquire the remaining 50% WI in the Putumayo-7 Block (PUT-7 Block), thereby consolidating their working interest to 100%. The PUT-7 Block is estimated to have 3.8 mmbbl of 2P reserves, which implies an acquisition cost of US$10/bbl for the 1.9 mmbbl acquired. The PUT-7 Block is located immediately ....
15 Jan 2016
GRAN TIERRA ANNOUNCES ACQUISITION CONSOLIDATING INTERESTS IN THE PUTUMAYO-7 BLOCK
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GRAN TIERRA ANNOUNCES ACQUISITION CONSOLIDATING INTERESTS IN THE PUTUMAYO-7 BLOCK
Gran Tierra Energy Inc. (GTE:LON) | 548 0 0.0% | Mkt Cap: 176.9m
- Published:
15 Jan 2016 -
Author:
Darren B. Engels -
Pages:
3
Market Impact: Positive. Gran Tierra has entered into an agreement with PetroGranada Ltd. (private) to acquire PetroGranada Colombia Ltd.'s issued and outstanding shares for US$19 mm. Gran Tierra will acquire the remaining 50% WI in the Putumayo-7 Block (PUT-7 Block), thereby consolidating their working interest to 100%. The PUT-7 Block is estimated to have 3.8 mmbbl of 2P reserves, which implies an acquisition cost of US$10/bbl for the 1.9 mmbbl acquired. The PUT-7 Block is located immediately ....