GTE

Gran Tierra Energy Inc. Provides Operations Update

Retrieved on: 
Monday, March 11, 2024

2024 Year-to-Date Total Company Average Production1 of Approximately 33,100 BOPD, 6% Percent Increase from Fourth Quarter 2023

Key Points: 
  • 2024 Year-to-Date Total Company Average Production1 of Approximately 33,100 BOPD, 6% Percent Increase from Fourth Quarter 2023
    CALGARY, Alberta, March 11, 2024 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced an operational update.
  • Gary Guidry, President and Chief Executive Officer of Gran Tierra, commented: “We are thrilled by the outcome to the start of our development drilling program so far in 2024.
  • Since December 2023, Gran Tierra has drilled 5 wells of which 4 are oil producers and 1 is a water injector:
    The first well, CYC-56, has been on production with jet pump since early January 2024.
  • During 2023 Gran Tierra received an “A” rating from MSCI5 as a result of its Beyond Compliance philosophy and ESG performance.

Gran Tierra Energy Inc. Announces Granting of Exemptive Relief Regarding its Normal Course Issuer Bid

Retrieved on: 
Tuesday, February 20, 2024

Markets”) as part of Gran Tierra’s normal course issuer bids announced on October 31, 2023.

Key Points: 
  • Markets”) as part of Gran Tierra’s normal course issuer bids announced on October 31, 2023.
  • Absent this exemptive relief, Gran Tierra’s purchases under a normal course issuer bid on markets other than the TSX would be limited to not more than 5% of its outstanding Shares over any 12-month period.
  • The exemptive relief is applicable to purchases of Shares completed within 36 months of the February 12, 2024 date of the exemption order, and includes purchases made under Gran Tierra’s current normal course issuer bid and any other normal course issuer bid in effect within such period and is conditional upon, among other things, purchases being made in compliance with applicable U.S. rules, the TSX rules applicable to a normal course issuer bid, National Instrument 23-101 - Trading Rules, and at a price not higher than the market price at the time of purchase.
  • The aggregate number of Shares purchased by Gran Tierra over any exchange or market over the relevant 12-month period of a particular normal course issuer bid may not exceed 10% of the public float as specified in Gran Tierra’s notice accepted by the TSX in respect of the relevant normal course issuer bid, including the current bid announced on October 31, 2023.

Official 24 Hours of Le Mans Game, Le Mans Ultimate, available today

Retrieved on: 
Tuesday, February 20, 2024

Internally developed title leverages RaceControl, Motorsport Games’ Online Service platform to deliver complete product-to-play ecosystem

Key Points: 
  • Internally developed title leverages RaceControl, Motorsport Games’ Online Service platform to deliver complete product-to-play ecosystem
    MIAMI, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Le Mans Ultimate , the official game of the FIA World Endurance Championship, and 24 Hours of Le Mans (ACO), goes on sale in Early Access today.
  • The game is the first officially licenced and dedicated 24 Hours of Le Mans video game for over twenty years, created by Motorsport Games Inc. (NASDAQ:MSGM) (“Motorsport Games”) development team, Studio 397.
  • Developed with extensive manufacturer support, including detailed collaboration with Ferrari on the Le Mans Centenary winning 499, to make the included cars as realistic as possible.
  • Our immediate focus is now on continued development and expansion of Le Mans Ultimate to provide gamers with a world-class entertainment experience.”
    The 24 Hours of Le Mans and World Endurance Championship is currently undergoing a renaissance with renewed interest thanks to the new Hypercar machinery.

Gran Tierra Energy Inc. Provides Release Date for its 2023 Fourth Quarter & Year-End Results and Details of Conference Call and Webcast

Retrieved on: 
Tuesday, February 13, 2024

CALGARY, Alberta, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) announces that the Company will release its fourth quarter and year ended December 31, 2023, financial and operating results on Tuesday, February 20, 2024, before market open.

Key Points: 
  • CALGARY, Alberta, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) announces that the Company will release its fourth quarter and year ended December 31, 2023, financial and operating results on Tuesday, February 20, 2024, before market open.
  • Gran Tierra will host its 2023 fourth quarter and year-end results conference call on Tuesday, February 20, 2024, at 9:00 a.m. Mountain Time, 11:00 a.m. Eastern Time.
  • Interested parties may register for the conference call by clicking on this link .
  • Please note that there is no longer a general dial-in number to participate, and each individual party must register through the provided link.

Gran Tierra Energy Inc. Announces Closing of an Additional $100 Million Aggregate Principal Amount of its 9.500% Senior Secured Amortizing Notes due 2029

Retrieved on: 
Tuesday, February 6, 2024

Gran Tierra previously had US$487,590,000 aggregate principal amount outstanding of its 9.500% Senior Secured Amortizing Notes due 2029 (the “Original Notes”).

Key Points: 
  • Gran Tierra previously had US$487,590,000 aggregate principal amount outstanding of its 9.500% Senior Secured Amortizing Notes due 2029 (the “Original Notes”).
  • The Notes have the same terms and provisions as the Original Notes, except for the issue price, and form the same series as the Original Notes, including with respect to interest payments.
  • The Notes are guaranteed by certain subsidiaries of Gran Tierra.
  • Moreover, neither the Company nor any other person assumes responsibility for the accuracy or completeness of any of these forward-looking statements.

Gran Tierra Energy Inc. Announces Pricing of an Additional $100 Million Aggregate Principal Amount of its 9.500% Senior Secured Amortizing Notes due 2029

Retrieved on: 
Friday, February 2, 2024

Gran Tierra previously had outstanding US$487,590,000 aggregate principal amount of 9.500% Senior Secured Amortizing Notes due 2029 (the “Original Notes”).

Key Points: 
  • Gran Tierra previously had outstanding US$487,590,000 aggregate principal amount of 9.500% Senior Secured Amortizing Notes due 2029 (the “Original Notes”).
  • Gran Tierra expects to close the offering on February 6, 2024.
  • Gran Tierra expects to receive net proceeds, after initial purchasers’ discounts and commissions and estimated fees and offering expenses, of approximately $88.3 million.
  • The Notes will be guaranteed by certain subsidiaries of Gran Tierra.

Gran Tierra Energy Inc. Announces Private Offering of an Additional Amount of its 9.500% Senior Secured Amortizing Notes due 2029

Retrieved on: 
Thursday, February 1, 2024

Gran Tierra currently has outstanding US$487,590,000 aggregate principal amount of 9.500% Senior Secured Amortizing Notes due 2029 (the “Original Notes”).

Key Points: 
  • Gran Tierra currently has outstanding US$487,590,000 aggregate principal amount of 9.500% Senior Secured Amortizing Notes due 2029 (the “Original Notes”).
  • The Notes will be guaranteed by certain subsidiaries of Gran Tierra.
  • Because forward-looking statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by the forward-looking statements.
  • Moreover, neither the Company nor any other person assumes responsibility for the accuracy or completeness of any of these forward-looking statements.

Gamma Technologies Unveils Plans to Launch GammaTech Engineering (GTE), Acquires Powertech Engineering S.r.l., Accelerating Simulation Methods Development for Complex Systems

Retrieved on: 
Thursday, January 18, 2024

The viral adoption of an integrated multi-physics systems simulation centric approach, powered by GT software solutions, has led to an accelerated pace of new product development.

Key Points: 
  • The viral adoption of an integrated multi-physics systems simulation centric approach, powered by GT software solutions, has led to an accelerated pace of new product development.
  • GT’s commitment to state-of-the-art CAE technologies has been reinforced by recent advancements in its GT-SUITE platform and key acquisitions for battery, e-motors, power electronics, and clean combustion technologies.
  • “GT has been quickly advancing the horizon of systems simulation technologies and extending its global footprint to provide trusted advisory support to our customers,” stated Dimple Shah, GT’s President and CEO.
  • “The challenge ahead is to continue to translate the promise of advanced simulation technologies to product innovation and customer success.

Gran Tierra Energy Inc. Announces Normal Course Issuer Bid and Automatic Share Purchase Plan

Retrieved on: 
Tuesday, October 31, 2023

CALGARY, Alberta, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra”) (NYSE American: GTE)(TSX: GTE)(LSE: GTE), today announces that the Toronto Stock Exchange (“TSX”) has approved its notice of intention to make a normal course issuer bid (the “Bid”) for its shares of common stock (the “Shares”).

Key Points: 
  • CALGARY, Alberta, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra”) (NYSE American: GTE)(TSX: GTE)(LSE: GTE), today announces that the Toronto Stock Exchange (“TSX”) has approved its notice of intention to make a normal course issuer bid (the “Bid”) for its shares of common stock (the “Shares”).
  • Gran Tierra has also entered into an Automatic Share Purchase Plan (the “ASPP”) in connection with the Bid.
  • The brokerage firm conducting the Bid on behalf of Gran Tierra and administering the ASPP is Eight Capital.
  • The ASPP is intended to allow for the purchase of Shares under the Bid when Gran Tierra would ordinarily not be permitted to purchase Shares due to regulatory restrictions and customary self-imposed blackout periods.

Gran Tierra Energy Inc. Announces Third Quarter 2023 Results Including the Highest Production Since the Second Quarter of 2019, Net Income of $7 Million and $36 Million of Free Cash Flow

Retrieved on: 
Tuesday, October 31, 2023

For per bbl amounts based on net after royalty (“NAR”) production, see Gran Tierra’s Quarterly Report on Form 10-Q filed October 31, 2023.

Key Points: 
  • For per bbl amounts based on net after royalty (“NAR”) production, see Gran Tierra’s Quarterly Report on Form 10-Q filed October 31, 2023.
  • Gran Tierra’s production in the Quarter was the Company’s highest quarterly average total production since second quarter 2019.
  • Net Income: Gran Tierra achieved net income of $7 million, compared to a net loss of $11 million in the Prior Quarter and net income of $39 million one year ago.
  • Free Cash Flow(2): During the Quarter, the Company generated free cash flow of approximately $36 million.