Gran Tierra Energy Successfully Closes the Sale of its Argentina Business

Gran Tierra Energy Successfully Closes the Sale of its Argentina Business 
Operations in Second Half of 2014 to Focus on Exploration in the Putumayo 
Basin of Colombia and Further Development of the Bretaña Field in Peru 
CALGARY, June 25, 2014 /CNW/ - Gran Tierra Energy Inc. ("Gran Tierra Energy") 
(NYSE MKT: GTE, TSX: GTE), a company focused on oil exploration and production 
in South America, today announces it has closed the sale of its Argentina 
business and provides a corporate update. 
"With the successful sale of the Argentina business, Gran Tierra Energy 
increases its focus on its exciting exploration and development drilling 
campaign in Colombia and Peru in the second half of 2014. We are currently 
drilling ahead on the Moqueta-13 development well, intended to be completed as 
a production well in the Moqueta field.  In addition, planning is underway to 
drill four exploration wells in the second half of 2014 in the Putumayo Basin 
of Colombia" said Dana Coffield, Gran Tierra Energy President and Chief 
Executive Officer. "We continue to work towards starting long term test 
production at the Bretaña field in Peru, anticipated to start in the fourth 
quarter of this year, in addition to drilling an appraisal well in the field 
before year-end" concluded Coffield. 
Gran Tierra Energy successfully closed the sale of its Argentina business to 
Madalena Energy Inc. ("Madalena") (TSX-V: MVN) for an aggregate consideration 
of approximately US$69 million, comprising US$49 million in cash, US$14 
million in Madalena shares, and expected working capital adjustments of 
approximately US$6 million.  The effective date of this transaction is April 
30, 2014. 
Chaza Block, Putumayo Basin (100% Working Interest ("WI") and Operator) 
The Eslabón Sur Shallow-1 and Eslabón Sur Deep-1 exploration wells are 
targeting the same Cretaceous Sandstones encountered in the Costayaco and 
Moqueta discoveries and are expected to begin drilling in the third and fourth 
quarters respectively of 2014. 
The Corunta-1A exploration well is expected to spud in the third quarter of 
2014 and will be drilled in a northeast direction from the Costayaco-17 well 
pad targeting a downthrown fault block west of the Moqueta field. 
The Moqueta-13 development well was spud on May 25, 2014, and is drilling in a 
southeast direction from the Moqueta-1 well pad.  Moqueta-13 is intended to 
add to the production of the Moqueta field. 
Putumayo-1 Block, Putumayo Basin (55% WI and Operator, Compania Espanola de 
Petroleos Colombia, S.A.U. 45% working interest) 
The Cabañas-1 exploration well is expected to be drilled in the fourth 
quarter of 2014 in the Putumayo-1 Block.  This block is immediately south of 
the Chaza Block in the Putumayo basin where Gran Tierra Energy encountered 
multiple explorations successes. The Cabañas-1 well is targeting the same 
Cretaceous Sandstones encountered in the Costayaco and Moqueta discoveries. 
Block 95, Bretaña Field (Gran Tierra Energy 100% WI and Operator) 
Planning and construction is underway to initiate drilling of the Bretaña Sur 
delineation well in the fourth quarter of 2014 to gather additional reservoir 
data and further substantiate oil reserves in the field. 
Work also continues towards starting long term test production at the Bretaña 
field at approximately 2,500 barrels of oil per day, which is anticipated to 
start in the fourth quarter of this year. 
Corporate Update 
Production for the months of April and May was consistent with Gran Tierra 
Energy's internal budget and averaged approximately 21,466 barrels of oil 
equivalent per day ("BOEPD") net after royalty ("NAR") before adjustments for 
inventory changes despite not having access to the Ecopetrol-operated 
Trans-Andean oil pipeline in Colombia (the "OTA pipeline") for approximately 
28 days during this time period.  A recent landslide has damaged the OTA 
pipeline, with repairs expected to be completed in July.  During this time, 
Gran Tierra Energy plans to transport its oil by truck to continue sales. 
With the transaction to sell its Argentina business closed, Gran Tierra Energy 
estimates the Argentina business unit contributed average production of 
approximately 1,365 BOEPD NAR to its full-year 2014 production estimate.  Gran 
Tierra Energy plans to reduce its 2014 corporate capital spending program by 
an amount comparable to the planned Argentina capital program of US$48 
million, less the amount spent up to the closing date of the transaction. 
About Gran Tierra Energy Inc. 
Gran Tierra Energy is an international oil and gas exploration and production 
company, headquartered in Calgary, Canada, incorporated in the United States, 
trading on the NYSE MKT (GTE) and the Toronto Stock Exchange (GTE), and 
operating in South America. Gran Tierra Energy holds interests in producing 
and prospective properties in Colombia, Peru, and Brazil. Gran Tierra Energy 
has a strategy that focuses on establishing a portfolio of producing 
properties, plus production enhancement and exploration opportunities to 
provide a base for future growth. 
Gran Tierra Energy's Securities and Exchange Commission filings are available 
on a web site maintained by the Securities and Exchange Commission at and on SEDAR at 
Forward Looking Statements and Advisories 
This news release contains certain forward-looking information and 
forward-looking statements (collectively, "forward-looking statements") under 
the meaning of applicable securities laws, including Canadian Securities 
Administrators' National Instrument 51-102 - Continuous Disclosure Obligations 
and the United States Private Securities Litigation Reform Act of 1995. The 
use of the words "will", "should", "planning", "intended", "continue", 
"anticipated" and "expected" and derivations thereof and similar terms 
identify forward-looking statements. In particular, but without limiting the 
foregoing, this news release contains forward-looking statements regarding: 
Gran Tierra Energy's drilling, testing and production expectations, including 
without limitation, the timing of operations, the oil-bearing potential of 
certain reservoirs and expectations with respect to drilling locations and 
depth, the results of drilling, testing and exploration activities; the timing 
of repairs to the OTA pipeline; Gran Tierra Energy's 2014 production 
expectations and projections; and changes to Gran Tierra Energy's planned 
capital program for 2014. 
The forward-looking statements contained in this news release reflect several 
material factors and expectations and assumptions of Gran Tierra Energy 
including, without limitation: that Gran Tierra Energy will continue to 
conduct its operations in a manner consistent with past operations; the 
accuracy of testing and production results and seismic data; the effects of 
certain drilling techniques; cost and price estimates; and the general 
continuance of current or, where applicable, assumed operational, regulatory 
and industry conditions. Gran Tierra Energy believes the material factors, 
expectations and assumptions reflected in the forward-looking statements are 
reasonable at this time but no assurance can be given that these factors, 
expectations and assumptions will prove to be correct. 
The forward-looking statements contained in this news release are subject to 
risks, uncertainties and other factors that could cause actual results or 
outcomes to differ materially from those contemplated by the forward-looking 
statements, including, among others: Gran Tierra Energy's operations are 
located in South America where unexpected problems can arise due to guerilla 
activity and labour disruptions; the OTA pipeline may continue to experience 
disruptions and if further disruptions occur, service at the OTA pipeline may 
not continue on the time lines or to the capacity expected by or favorable to 
Gran Tierra Energy; attempts to mitigate the effect of disruptions of the OTA 
pipeline may not have the impact currently anticipated by Gran Tierra Energy; 
unexpected technical difficulties and operational difficulties may occur, 
which could impact or delay the completion or continuation of drilling; 
geographic, political and weather conditions can interrupt drilling, which 
could impact or delay the commencement or continuation of drilling; the risk 
that current global economic and credit market conditions may impact oil 
prices and oil consumption more than Gran Tierra Energy currently predicts, 
which could cause Gran Tierra Energy to change its current drilling, 
production and testing plans; and production data should be considered 
preliminary until a full well test interpretation has been done. Further 
information on potential factors that could affect Gran Tierra Energy are 
included in risks detailed from time to time in Gran Tierra Energy's 
Securities and Exchange Commission filings, including, without limitation, 
under the caption "Risk Factors" in Gran Tierra Energy's Quarterly Report on 
Form 10-Q filed May 7, 2014. These filings are available on a Web site 
maintained by the Securities and Exchange Commission at and 
on SEDAR at  The forward-looking statements contained herein 
are expressly qualified in their entirety by this cautionary statement. The 
forward-looking statements included in this press release are made as of the 
date of this press release and Gran Tierra Energy disclaims any intention or 
obligation to update or revise any forward-looking statements, whether as a 
result of new information, future events or otherwise, except as expressly 
required by applicable securities legislation. 
BOE's may be misleading, particularly if used in isolation. A BOE conversion 
ratio of 6 Mcf: 1 bbl is based on an energy equivalency conversion method 
primarily applicable at the burner tip and does not represent a value 
equivalency at the wellhead. In addition, given that the value ratio based on 
the current price of oil as compared with natural gas is significantly 
different from the energy equivalent of six to one, utilizing a BOE conversion 
ratio of 6 Mcf: 1 bbl would be misleading as an indication of value.

SOURCE  Gran Tierra Energy Inc. 
For investor and media inquiries please contact: Jason Crumley Director, 
Investor Relations 403-265-3221 
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CO: Gran Tierra Energy Inc.
ST: Alberta
-0- Jun/25/2014 21:30 GMT
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