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Gran Tierra Energy Peru S.R.L. has entered into an agreement to purchase the remaining 40% working interest in Block 95, in Peru’s Marañon Basin, from Global Energy Development Plc.
Subject to Peruvian government approval, Gran Tierra will have a 100% working interest in the block.
Gran Tierra’s resource estimates for the block are: low estimate, 1C contingent resources of 11.5 million stock tank barrels of oil (MMSTB); best estimate, 2C contingent resources of 31.6 MMSTB; and high estimate, 3C contingent resources of 88.1 MMSTB.