Gran Tierra Energy is one of the most successful independent oil and gas companies to have entered Colombia in recent years. Net production has grown from approximately 700 barrels of oil per day in 2006 to approximately 14,000 barrels of oil per day in late 2009. This growth has been driven by exploration and subsequent development success, including the discovery of the Costayaco field, one of the largest oil discoveries in Colombia in the last decade. Today, Gran Tierra Energy holds an interest in 12 blocks in Colombia, three of which are producing; all of the production is light oil. All of the blocks are operated by Gran Tierra Energy. Gran Tierra Energy is now the largest producer, the largest reserve holder and the largest exploration landholder in the Putumayo Basin of southern Colombia, and will be undertaking an aggressive exploration drilling program in 2010 with the intent to continue growing reserves and production.
