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Capital Markets Day – Gran Tierra Energy, Inc.

Gran Tierra Energy, Inc. · Jun 29, 2016 · 145 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Capital Markets Day – Gran Tierra Energy, Inc. – slide 1
    FINANCIALLY STRONG DISCIPLINED APPROACH VALUE DRIVEN Capital Markets Day Presentation June 2016 1
  2. Capital Markets Day – Gran Tierra Energy, Inc. – slide 2
    CONTENTS 1. Introduction to Company 2. Introduction to Colombia 3. Year in Review 4. Financial Overview 5. Marketing and Transportation 6. Asset Management 7. Exploration 8. HSE and CSR 9. Financial Forecasts Long Range Plan 10. Summary…
  3. Capital Markets Day – Gran Tierra Energy, Inc. – slide 3
    1. Introduction to Company 4
  4. Capital Markets Day – Gran Tierra Energy, Inc. – slide 4
    WHY INVEST IN GRAN TIERRA 1 STRONG FINANCIAL POSITION & SIGNIFICANT FUNDS FLOW FROM OPERATIONS WITH EXPECTED 27,500-29,000 BOEPD OF LOW DECLINE, GROSS BEFORE ROYALTIES OIL PRODUCTION Solid balance sheet, 190 million in pro forma…
  5. Capital Markets Day – Gran Tierra Energy, Inc. – slide 5
    WHY INVEST IN GRAN TIERRA 3 TOP PERFORMING OPERATING AND ASSET MANAGEMENT TEAMS IN COLOMBIA AND CALGARY Recently reduced drilling times by 45% and drilling costs by 35% by restructuring team and applying best in class practices;…
  6. Capital Markets Day – Gran Tierra Energy, Inc. – slide 6
    SIGNIFICANT EXPERIENCE, PROVEN TRACK RECORD MANAGEMENT TEAM BOARD OF DIRECTORS Gary Guidry President & CEO Gary Guidry President & CEO Professional Engineer (P. Eng.) registered with APEGA with more than 35 years of experience. Before…
  7. Capital Markets Day – Gran Tierra Energy, Inc. – slide 7
    COMPANY SNAPSHOT 5 Highly liquid stock (NYSE & TSX), underpinned by solid Net Asset Value (NAV) Market Statistics Symbol (NYSE MKT, TSX) GTE Share Price (at close June 8, 2016), NYSE MKT US 3.35 Daily Trading, 30-day Ave Volume,…
  8. Capital Markets Day – Gran Tierra Energy, Inc. – slide 8
    CORPORATE STRATEGY Grow Net Asset Value per share by 3-5x within 5 years Discovered Resources Undiscovered Resources New Inventory Grow/maintain existing High graded exciting exploration portfolio Continue evaluation of…
  9. Capital Markets Day – Gran Tierra Energy, Inc. – slide 9
    2. Introduction to Colombia 10
  10. Capital Markets Day – Gran Tierra Energy, Inc. – slide 10
    WHY INVEST IN COLOMBIA ATTRACTIVE ECONOMIC AND E&P ENVIRONMENT Strong economic environment with pro-western government that ensures contract sanctity STRONG, STABLE Only major Latin American country that has not defaulted on its debt…
  11. Capital Markets Day – Gran Tierra Energy, Inc. – slide 11
    WHY INVEST IN COLOMBIA ONE OF THE BEST FISCAL REGIMES IN THE WORLD According to PFC Energy (division of IHS Energy), Colombia has one of the lowest average government takes at 50% (royalties + taxes) in the world at 60/bbl Brent…
  12. Capital Markets Day – Gran Tierra Energy, Inc. – slide 12
    WHY INVEST IN COLOMBIA MAJOR ECONOMIC PROGRESS & GROWTH LATIN AMERICAN SUCCESS STORY 1964 2014 Population 17 million (38% urban) 48.5 million (76% urban) Life expectancy at birth (years) 59 74 Infant mortality rate (per 1.000) 149 15…
  13. Capital Markets Day – Gran Tierra Energy, Inc. – slide 13
    WHY INVEST IN COLOMBIA PEACE PROCESS WITH FARC BEST OPPORTUNITY TO SECURE PEACE IN 50 YEARS TIMELINE TO PEACE ACCORD President Santos said on May 11, 2016 that Colombian government hopes to conclude peace accord with FARC rebels…
  14. Capital Markets Day – Gran Tierra Energy, Inc. – slide 14
    3. Year in Review 15
  15. Capital Markets Day – Gran Tierra Energy, Inc. – slide 15
    YEAR IN REVIEW - ACCOMPLISHMENTS Initiated Growth Program Petroamerica and PetroGranada acquisitions in Jan/2016 added 10MMBOE of 2P reserves and increased Gran Tierras total mean risked prospective resources by 59 MMBOE or 50%1 Gran…
  16. Capital Markets Day – Gran Tierra Energy, Inc. – slide 16
    YEAR IN REVIEW - ACCOMPLISHMENTS Structural, Sustainable Cost Reductions Achieved Revamped Drilling & Completions team, which drove substantial cost reductions: Renegotiated drilling contracts to deliver 10 to 30% reduction on rates…
  17. Capital Markets Day – Gran Tierra Energy, Inc. – slide 17
    4. Financial Overview 18
  18. Capital Markets Day – Gran Tierra Energy, Inc. – slide 18
    FINANCIAL STRENGTH POSITIONED TO EXECUTE OUR STRATEGY Strong cash position, cash flow & borrowing capacity PRO FORMA CASH & CURRENT PRO FORMA WORKING UNDRAWN RESTRICTED CASH1 CAPITAL2 CREDIT FACILITY3 TOTAL LIQUIDITY 179 190 185…
  19. Capital Markets Day – Gran Tierra Energy, Inc. – slide 19
    HEDGING PROGRAM PROTECTION FROM OIL PRICE DOWNSIDE SOLD SOLD BOUGHT SOLD PERIOD HEDGED VOLUME PUT PUT CALL PREMIUM JUN.1/16-MAY 31/17 10,000 BOPD US35/bbl US45/bbl US65/bbl US1.25/bbl PROTECTION FROM COP FOREIGN EXCHANGE…
  20. Capital Markets Day – Gran Tierra Energy, Inc. – slide 20
    2016 REVISED WORK PROGRAM (US) ORIGINAL BASE CAPITAL PROGRAM ADDITIONAL EXPLORATION CAPITAL Chaza Block 50 MM Colombia Exploration 33-43 MM 2 gross water injection wells at Costayaco Drill 2 additional gross exploration wells 3 gross…
  21. Capital Markets Day – Gran Tierra Energy, Inc. – slide 21
    GRAN TIERRA: FISCAL REGIMES & TAX POOLS Colombia (revenue collection in USD) Mexico (revenue collection in USD) Royalties: ANH contracts - sliding scale: 8% up to 5,000 BOEPD, Royalties: Basic 7.5% + sliding scale based on oil price…
  22. Capital Markets Day – Gran Tierra Energy, Inc. – slide 22
    5. Marketing and Transportation 23
  23. Capital Markets Day – Gran Tierra Energy, Inc. – slide 23
    MARKETING & TRANSPORTATION: CAPTURING VALUE Restructured marketing function, core competency of Gran Tierra Gran Tierra has very strong logistics and operations team which safely and efficiently transports barrels Multiple export…
  24. Capital Markets Day – Gran Tierra Energy, Inc. – slide 24
    MULTIPLE Barranquilla EXPORT ROUTES Cartagena Multiple options to monetize crude oil production Coveas Netbacks vary by route, however pipeline tariffs are paid in US and trucking costs are paid in Colombian Pesos; sales netback…
  25. Capital Markets Day – Gran Tierra Energy, Inc. – slide 25
    6. Asset Management 26
  26. Capital Markets Day – Gran Tierra Energy, Inc. – slide 26
    ASSET MANAGEMENT 6.1 COLOMBIA 27
  27. Capital Markets Day – Gran Tierra Energy, Inc. – slide 27
    COSTAYACO DRILLING RECORD Costayaco Drilling Costayaco - Cost & Time 9 60 7.9MM 8 50 51 days 7 5.9MM 6 40 Cost (MM) Drill Days 5 30 4 29 days 3 20 2 10 1 0 - Avg. Wells Prior to 2015 Avg. Wells Post…
  28. Capital Markets Day – Gran Tierra Energy, Inc. – slide 28
    COSTAYACO DRILLING RECORD (2007, 2008 & 2009) Vertical Section (Feet) 0 500 1000 1500 2000 2500 3000 3500 4000 7,800 CYC 10 8,000 CYC 9 8,200 CYC 4 True Vertical Depth (Feet) CYC 6 8,400 CYC 8 CYC 1 8,600 CYC CYC 3…
  29. Capital Markets Day – Gran Tierra Energy, Inc. – slide 29
    COSTAYACO DRILLING RECORD (2010, 2011 & 2012) Vertical Section (Feet) 0 500 1000 1500 2000 2500 3000 3500 4000 7,800 CYC 10 8,000 CYC 9 CYC 16 8,200 CYC 13 CYC 4 True Vertical Depth (Feet) CYC 6 CYC12 8,400 CYC 14…
  30. Capital Markets Day – Gran Tierra Energy, Inc. – slide 30
    COSTAYACO DRILLING RECORD (2014, 2015 & 2016) Vertical Section (Feet) 0 500 1000 1500 2000 2500 3000 3500 4000 7,800 CYC 10 CYC 21 8,000 CYC 9 CYC 16 8,200 CYC 13 CYC 4 True Vertical Depth (Feet) CYC 6 CYC12 8,400 CYC…
  31. Capital Markets Day – Gran Tierra Energy, Inc. – slide 31
    MOQUETA DRILLING RECORD Moqueta Drilling Record - Cost & Time 12 60 10.9MM 10 50 8 40 Drill Days Cost (MM) 5.9MM 6 31 days 30 4 20 16 days 2 10 0 - Avg. Wells Prior Mid 2014 Avg. Wells Post Mid 2014 32
  32. Capital Markets Day – Gran Tierra Energy, Inc. – slide 32
    MOQUETA DRILLING RECORD (2010, 2011 & 2012) Vertical Section (Feet) 0 1000 2000 3000 4000 5000 6000 7000 8000 3,000 MQT 6 MQT 1 4,000 MQT 2 True Vertical Depth (Feet) MQT 4 MQT 3 5,000 MQT 5 MQT 6ST1 6,000 MQT 8…
  33. Capital Markets Day – Gran Tierra Energy, Inc. – slide 33
    MOQUETA DRILLING RECORD (2013 & 2014) Vertical Section (Feet) 0 1000 2000 3000 4000 5000 6000 7000 8000 3,000 MQT 9 MQT 6 MQT 1 4,000 MQT 2 MQT 9ST1 ZAP 1 MQT 14 True Vertical Depth (Feet) MQT 13 MQT 4 MQT 3 5,000 MQT…
  34. Capital Markets Day – Gran Tierra Energy, Inc. – slide 34
    MOQUETA DRILLING RECORD (2015 & 2016) Vertical Section (Feet) 0 1000 2000 3000 4000 5000 6000 7000 8000 3,000 MQT 9 MQT 6 MQT 1 4,000 MQT 2 MQT 9ST1 ZAP 1 MQT 14 MQT 18 True Vertical Depth (Feet) MQT 20A MQT 13 MQT 4…
  35. Capital Markets Day – Gran Tierra Energy, Inc. – slide 35
    ASSET MANAGEMENT 6.2 COSTAYACO 36
  36. Capital Markets Day – Gran Tierra Energy, Inc. – slide 36
    CHAZA BLOCK COSTAYACO FIELD Costayaco Fields Discovery Wells Putumayo - Colombia CYC 1 May/2007 Mocoa Mocoa River Caqueta Villagarzon River Pacayaco 1 Puerto Limon CYC 7 CYC 11/12 /23i Village Heliport CYC 5/14/15…
  37. Capital Markets Day – Gran Tierra Energy, Inc. – slide 37
    COLOMBIA COSTAYACO OVERVIEW Field Production (May 1st , 2016) Oil: 12,368 bopd Water: 21,839 bwpd (63.8% w/c) GOR: 148 scf/stb Water Injection: 27,869 bwpd Cab T T + Cab U+T+Cab REMAINING RECOVERABLE RESERVES1 Kg Sand, U…
  38. Capital Markets Day – Gran Tierra Energy, Inc. – slide 38
    COSTAYACO CROSS SECTION 39
  39. Capital Markets Day – Gran Tierra Energy, Inc. – slide 39
    COSTAYACO TYPE WELL1 2,500 4.0 3.6 Cumulative Oil (MMbbl), WaterCut (%) 2,000 3.2 Caballos+T Sand 2.8 Oil Rate (bopd) 1,500 2.4 2.0 1,000 1.6 Watercut 100% 1.2 500 0.8 0.4 0 0.0 0 5 10 15 Time (Years) Oil…
  40. Capital Markets Day – Gran Tierra Energy, Inc. – slide 40
    COSTAYACO GEOMODEL CURRENT MODELING STATUS A new high resolution static model was created based on updated well logs and structure maps All fault centerlines were characterized, with significant faulting included in the structural…
  41. Capital Markets Day – Gran Tierra Energy, Inc. – slide 41
    U SAND POPULATION PROPERTIES U sand Property Vshale 42
  42. Capital Markets Day – Gran Tierra Energy, Inc. – slide 42
    COSTAYACO RESERVOIR SIMULATION Model updated to May 1st 2016, including production from new wells (CYC-23i and CYC-27i) Good oil, water and pressure history match on a field basis allows us to accurately predict production, optimize…
  43. Capital Markets Day – Gran Tierra Energy, Inc. – slide 43
    COSTAYACO SATURATION MAP MAY 1ST, 2016 Unswept Targets T Sand - Oil Saturation Map Kc Sand - Oil Saturation Map Costayaco Simulation Grid These unswept targets identify 3MMbbl of incremental reserves (3P 2P) using…
  44. Capital Markets Day – Gran Tierra Energy, Inc. – slide 44
    COSTAYACO PRODUCTION FORECAST 25,000 100% 90% Oil Rate (bopd), Gas Rate (MSCF/d) 20,000 Historical Oil 80% Oil Forecast 70% 15,000 Watercut Historical Gas 60% Gas Forecast 50% 10,000 Historical Water Cut 40% 30% Water…
  45. Capital Markets Day – Gran Tierra Energy, Inc. – slide 45
    ASSET MANAGEMENT 6.3 MOQUETA 46
  46. Capital Markets Day – Gran Tierra Energy, Inc. – slide 46
    CHAZA BLOCK MOQUETA FIELD Moqueta Fields Discovery Wells Putumayo - Colombia MQT 1 Jun/2010 Mocoa Moqueta Field Mocoa River MQT 1/ MQT 7/ 19i/21 Caqueta Villagarzon 20/22/23 River MQT 4 Puerto Limon CYC 7 Village Heliport…
  47. Capital Markets Day – Gran Tierra Energy, Inc. – slide 47
    MOQUETA OVERVIEW Field Production (May 1st , 2016) Oil: 7,351 bopd Water: 1,778 bwpd (19.5% w/c) Cab GOR: 308 scf/stb Water Injection: 9,285 bwpd T + Cab Monitors Suspended MQT 2 MQT 1 MQT 22 Injectors ZPT 1 MQT 14 MQT 21 MQT…
  48. Capital Markets Day – Gran Tierra Energy, Inc. – slide 48
    MOQUETA STRUCTURAL CROSS SECTION A MQT-7 MQT-4 MQT-20 MQT-11 MQT-13 MQT-21 A A A 49
  49. Capital Markets Day – Gran Tierra Energy, Inc. – slide 49
    MOQUETA TYPE WELL 600 2.4 Caballos+T Sand 2.2 Cumulative Oil (MMbbl), WaterCut (%) 500 2.0 1.8 400 1.6 Oil Rate (bopd) 1.4 300 1.2 Watercut 100% 1.0 200 0.8 0.6 100 0.4 0.2 0 0.0 0 5 10 15 20 25 Time (Years)…
  50. Capital Markets Day – Gran Tierra Energy, Inc. – slide 50
    MOQUETA GEOMODEL High quality sand Medium quality sand Low quality sand Facies model High resolution geomodel using seismic information and well dip meter information 25m x 25m Precise gross reservoir limits defined by seismic…
  51. Capital Markets Day – Gran Tierra Energy, Inc. – slide 51
    MOQUETA SIMULATION: HISTORY MATCH Moqueta - Fluid History Match Dynamic Model Description 9,000 8,000 Oil/Water Rate (bpd) 7,000 Extremely high resolution model (25 x 25 x 1m grid) 6,000 5,000 Single model for all…
  52. Capital Markets Day – Gran Tierra Energy, Inc. – slide 52
    MOQUETA CAPTURING INCREMENTAL VALUE T Sand Saturation Map May 1st, 2016 Identifying current oil concentrations allows us to optimize injection and production operations with existing wells, and realize possible infill…
  53. Capital Markets Day – Gran Tierra Energy, Inc. – slide 53
    MOQUETA SIMULATION: U SAND DEVELOPMENT Oil Rates - Upper Block U-Sand Wells MQT23 Log Very good section of sand 1000 1.00 encountered in the Upper Block U Sand in MQT-23 with excellent vertical continuity 800 0.80 Cumulative Oil…
  54. Capital Markets Day – Gran Tierra Energy, Inc. – slide 54
    MOQUETA PRODUCTION FORECAST 10,000 100% Oil Rate (bopd), Gas Rate (MSCF/d) 8,000 Historical Oil 80% Oil Forecast 6,000 60% Watercut Historical Gas Gas Forecast 4,000 Historical Watercut 40% Watercut Forecast 2,000…
  55. Capital Markets Day – Gran Tierra Energy, Inc. – slide 55
    ASSET MANAGEMENT 6.4 SURORIENTE 56
  56. Capital Markets Day – Gran Tierra Energy, Inc. – slide 56
    SURORIENTE BLOCK - LOCATION AND OVERVIEW BLOCK OVERVIEW GTE has 15.8% non-op working interest in block In the Putumayo basin on the border with Ecuador Association contract with Ecopetrol, expires in 2023 Gross WI Reserves (McDaniel…
  57. Capital Markets Day – Gran Tierra Energy, Inc. – slide 57
    COHEMBI FIELD OVERVIEW FAST FACTS Formation: N sand Depth: 9,000 ft Net pay: 19 ft Porosity: 23% Permeability: 3.6 Darcies Swc : 12 % Sorw: 40 % Pr : 5,200 psia (1,200 psia) Tr: 205 F API: 18.5 Oil Viscosity: 28 cP Pr, Tr…
  58. Capital Markets Day – Gran Tierra Energy, Inc. – slide 58
    COHEMBI N-SAND MODERN ANALOGUE 59
  59. Capital Markets Day – Gran Tierra Energy, Inc. – slide 59
    COHEMBI FIELD CROSS SECTION 60
  60. Capital Markets Day – Gran Tierra Energy, Inc. – slide 60
    COHEMBI FIELD STACKED GROSS PRODUCTION PER WELL 61
  61. Capital Markets Day – Gran Tierra Energy, Inc. – slide 61
    COHEMBI TYPE WELL Average IP of Cohembi infill well is 750bbl/d Average EUR is 1.3mmstb Forecasted F&D (6/BOE 1) Average of all Cohembi wells daily oil production, cumulative oil production and watercut histories set to common…
  62. Capital Markets Day – Gran Tierra Energy, Inc. – slide 62
    COHEMBI 3D MODELLING Static and dynamic simulations completed on all properties Cohembi field current oil saturation Cohembi field oil saturation at contract expiry Cohembi Facies Model 1) See endnotes 63
  63. Capital Markets Day – Gran Tierra Energy, Inc. – slide 63
    COHEMBI FIELD PRODUCTION/PRESSURE HISTORY AND MATCH1,2 Applying simple Asset Management techniques to add value Aggressive water injection planned to offset pressure declines 1,2) See endnotes 64
  64. Capital Markets Day – Gran Tierra Energy, Inc. – slide 64
    COHEMBI DEVELOPMENT SCENARIO DEVELOPMENT CASE 2P = 35 WELLS (+12 W): 29 Producers TECHNICAL RESERVES (PROPERTY GROSS) 6 Injectors Cohembi Pool YE 2015 (technical): Cum: 13.6 mmstb 2P Economic Ultimate Recoverable: 39.7 mmstb 2P…
  65. Capital Markets Day – Gran Tierra Energy, Inc. – slide 65
    SURORIENTE - PETROPHYSICAL ANALYSIS All wells in Sur Oriente block have been analyzed by industry veteran Reservoir parameters incorporated into all geomodels 66
  66. Capital Markets Day – Gran Tierra Energy, Inc. – slide 66
    QUINDE FIELD OVERVIEW FAST FACTS Location: Putumayo basin, southwest of Colombia Formation: N sand Depth: 10,000 ft Net pay: 15 ft Porosity: 24 % Permeability: 1,000 mD Swc : 17 % Sorw: 50% (no PVT) 3D Survey outline, P10…
  67. Capital Markets Day – Gran Tierra Energy, Inc. – slide 67
    QUINDE - CROSS SECTION 68
  68. Capital Markets Day – Gran Tierra Energy, Inc. – slide 68
    QUINDE/CUMPLIDOR TYPE WELL Average IP of Quinde/Cumplidor new drill is 1,400bbl/d Average EUR is 1.3mmstb Forecasted F&D 12/BOE Type curve assumes primary depletion 1) Average of all Quinde/Cumplidor wells daily oil production,…
  69. Capital Markets Day – Gran Tierra Energy, Inc. – slide 69
    QUINDE/CUMPLIDOR DEVELOPMENT OPTIONS Put -7 potential infill locations PUT 7 Cumplidor Vertical Development PUT 7 Cumplidor Horizontal Development Integrated Asset Team working on a range of different development strategies and…
  70. Capital Markets Day – Gran Tierra Energy, Inc. – slide 70
    N-SAND KEY LEARNINGS D&C GTE has fluids and international formation damage expertise in-house working these complex reservoirs ESPs in Quinde have shown poor runtimes Team weighing different options for future completions and…
  71. Capital Markets Day – Gran Tierra Energy, Inc. – slide 71
    N-SAND QUINDE-4 CORE WORK STUDIES AND OPTIMIZED RESERVOIR EXPLOITATION We expect that Cumplidor and Alpha wells will likely encounter N sand lithologies similar to Quinde-4 Very fine grained No framework grain cementation…
  72. Capital Markets Day – Gran Tierra Energy, Inc. – slide 72
    ASSET MANAGEMENT 6.5 MINOR ASSETS 73
  73. Capital Markets Day – Gran Tierra Energy, Inc. – slide 73
    LLANOS BLOCKS LOCATION PRODUCTION ASSETS WI BOEPD 2P Reserves WI (MMboe) BLOCK W.I. FIELD Before API 31-Dec-2015 Royalties GARIBAY 38.5% Jilguero 706 25 1.4 LLA-22 45.0% Ramiriqui 1,150 25 3.0 LOS OCARROS 50.0% Las Maracas…
  74. Capital Markets Day – Gran Tierra Energy, Inc. – slide 74
    ASSET MANAGEMENT 6.6 BRAZIL 75
  75. Capital Markets Day – Gran Tierra Energy, Inc. – slide 75
    BRAZIL GROWING OIL PRODUCTION AND A MATERIAL ACREAGE POSITION GTE BRAZIL OVERVIEW ACREAGE PORTFOLIO 47,734 gross acres, 100% W.I. in 7 blocks GROSS BLOCK GTE W.I. COMMENTS ACRES Recncavo Basin located in one of the principal…
  76. Capital Markets Day – Gran Tierra Energy, Inc. – slide 76
    BRAZIL TI FIELD GROWING OIL PRODUCTION WITH POTENTIAL UPSIDE TI FIELD OVERVIEW PRODUCTION 38API gravity crude Working Interest Production Before Royalties Current production 1,000 BOPD W.I., (BOPD) productive capacity of 2,000…
  77. Capital Markets Day – Gran Tierra Energy, Inc. – slide 77
    BRAZIL TI FIELD MAXIMIZING VALUE THROUGH ASSET MANAGEMENT MODELLING ACTIVITIES DYNAMIC MODEL RESULTS G&G Dynamic reservoir model built and initialized Agua Grande (AG) and Sergi (SG) structures defined TOP AG AG reservoir OOIP…
  78. Capital Markets Day – Gran Tierra Energy, Inc. – slide 78
    BRAZIL TI FIELD GROWING OIL RESERVES THROUGH ASSET MANAGEMENT 2015 RESERVES 2P DEVELOPMENT PLAN 1P reserves increased by 83% YOY1,2 due to: 3.5 1P Water injection project (currently underway) 3.0 2P AG reservoir performance -…
  79. Capital Markets Day – Gran Tierra Energy, Inc. – slide 79
    ASSET MANAGEMENT 6.7 PERU 80
  80. Capital Markets Day – Gran Tierra Energy, Inc. – slide 80
    UNIQUE OPPORTUNITY WITH EXPLORATION PORTFOLIO OF MORE THAN 6.5 BILLION BOE (UNRISKED MEAN UNDISCOVERED PETROLEUM INITIALLY-IN-PLACE [UPIIP]) PERU OVERVIEW GTE ROBUST ASSET BASE Underexplored world class basins with great potential…
  81. Capital Markets Day – Gran Tierra Energy, Inc. – slide 81
    BLOCK 95 - BRETAA OIL DISCOVERY EXCELLENT FIELD DEVELOPMENT PROJECT FOR A COMPANY WITH HEAVY OIL EXPERTISE BLOCK OVERVIEW EXPLORATION POTENTIAL Interest acquired in 2010, GTE operated with 100% W.I. Objectives: cretaceous Vivian and 5…
  82. Capital Markets Day – Gran Tierra Energy, Inc. – slide 82
    BLOCKS 107 & 133 ON TREND WITH PROLIFIC HYDROCARBON ACCUMULATIONS BLOCK OVERVIEW EXPLORATION POTENTIAL Interest acquired in 2011, GTE operates with 100% W.I. Main objective is the Cretaceous light oil play proven in Block 131. Camisea…
  83. Capital Markets Day – Gran Tierra Energy, Inc. – slide 83
    BLOCKS 123 & 129 GIANT STRUCTURES MAPPED AND DRILL READY BLOCK OVERVIEW EXPLORATION POTENTIAL Interest acquired in 2010, GTE operates with 100% W.I. Conventional type structural traps Immediately up-dip and along strike from prolific…
  84. Capital Markets Day – Gran Tierra Energy, Inc. – slide 84
    ASSET MANAGEMENT 6.8 SUMMARY 85
  85. Capital Markets Day – Gran Tierra Energy, Inc. – slide 85
    SUMMARY High quality, light oil assets Mature with infrastructure and drilling capex largely complete Strong cashflow generating assets Application of technology expected to identify further potential upside Restructured to…
  86. Capital Markets Day – Gran Tierra Energy, Inc. – slide 86
    7. Exploration 87
  87. Capital Markets Day – Gran Tierra Energy, Inc. – slide 87
    Exploration Agenda 1. COLOMBIAN OVERVIEW 2. MCDANIEL PROSPECTIVE RESOURCES 3. PUTUMAYO BASIN / N SAND PLAY 4. LLANOS BASIN / SINU BASIN 5. EXPLORATION CAPEX 2016 6. FIVE YEAR GROWTH PLAN 7. CONCLUSIONS 88
  88. Capital Markets Day – Gran Tierra Energy, Inc. – slide 88
    EXPLORATION STRATEGY Focus on Colombia Focus on proven basins Large prospective resource inventory with diversified plays & prospects Structural prospects in proven basins / stratigraphic N sand play in Putumayo Basin Seismically…
  89. Capital Markets Day – Gran Tierra Energy, Inc. – slide 89
    Exploration Agenda 1. COLOMBIAN OVERVIEW 2. MCDANIEL PROSPECTIVE RESOURCES 3. PUTUMAYO BASIN / N SAND PLAY 4. LLANOS BASIN / SINU BASIN 5. EXPLORATION CAPEX 2016 6. FIVE YEAR GROWTH PLAN 7. CONCLUSIONS 90
  90. Capital Markets Day – Gran Tierra Energy, Inc. – slide 90
    COLOMBIA 91
  91. Capital Markets Day – Gran Tierra Energy, Inc. – slide 91
    COLOMBIAN PIPELINE INFRASTRUCTURE 92
  92. Capital Markets Day – Gran Tierra Energy, Inc. – slide 92
    MEAN PROSPECTIVE RESOURCES1 P = Prospects; L = Leads 1) See endnotes 93
  93. Capital Markets Day – Gran Tierra Energy, Inc. – slide 93
    Exploration Agenda 1. COLOMBIAN OVERVIEW 2. MCDANIEL PROSPECTIVE RESOURCES 3. PUTUMAYO BASIN / N SAND PLAY 4. LLANOS BASIN / SINU BASIN 5. EXPLORATION CAPEX 2016 6. FIVE YEAR GROWTH PLAN 7. CONCLUSIONS 94
  94. Capital Markets Day – Gran Tierra Energy, Inc. – slide 94
    MCDANIEL MEAN PROSPECTIVE RESOURCES YEAR END 2015 Colombia Prospective Resources1 Risked BOE (MMBOE) WI Prospective Resources - Unrisked Resources Prospects / Basin Low P50 Mean High Mean Leads Putumayo 45P 114.9 306.6 441.4…
  95. Capital Markets Day – Gran Tierra Energy, Inc. – slide 95
    COMMITMENTS MANAGEMENT STRATEGY Commitment Management Strategy Amount to be Block Receiving Block Transfer transferred Cauca 6 US 10.5MM 1 A3 well Put-7 Phase 1 US 2.0MM Lla-19 12.5 Km2 (50% GTE) Cauca 7 US 6.0MM Put-4…
  96. Capital Markets Day – Gran Tierra Energy, Inc. – slide 96
    Exploration Agenda 1. COLOMBIAN OVERVIEW 2. MCDANIEL PROSPECTIVE RESOURCES 3. PUTUMAYO BASIN / N SAND PLAY 4. LLANOS BASIN / SINU BASIN 5. EXPLORATION CAPEX 2016 6. FIVE YEAR GROWTH PLAN 7. CONCLUSIONS 97
  97. Capital Markets Day – Gran Tierra Energy, Inc. – slide 97
    PUTUMAYO BASIN N- SAND PLAY FAIRWAY 20 22 16 14 32 Venezuela 16 14 26 29 14 17 Colombia 19 Colombia Ecuador 11 Brazil Ecuador 98
  98. Capital Markets Day – Gran Tierra Energy, Inc. – slide 98
    REGIONAL N SAND BASIN STATISTICS o 82 wells exploratory wells structural targets o 47/82 wells encountered N sand reservoir 57.3% chance of encountering N sand in basin CHAZA o Chance of Success GUAYUYACO 53% chance of…
  99. Capital Markets Day – Gran Tierra Energy, Inc. – slide 99
    REGIONAL N SAND PROSPECTS WITHIN PORTFOLIO 14,724 km of 2D seismic, 1,342 sq.km of 3D seismic in Putumayo basin 100
  100. Capital Markets Day – Gran Tierra Energy, Inc. – slide 100
    COHEMBI 1- DISCOVERY GUAYUYACO CHAZA PPN PUT-2 PUT-10 PUT-1 PPS ALEA 1947C PUT-4 PUT-31 ALEA 1848A SURORIENTE PUT-7 Cohembi 1 Drilled and tested in 1989 Wet Caballos, U, T Cohembi field Upper sand TWT Oil…

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