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Standard & Poor's Initiates Factual Stock Report Coverage on Gran Tierra Energy Inc.

Posted on: Friday, 14 December 2007, 12:00 CST

Standard & Poor's announced today that it has commenced Factual Stock Report coverage on Gran Tierra Energy Inc.

Gran Tierra Energy Inc. (OTCBB:GTRE) is an oil and gas exploration and production company with operations in Argentina, Colombia and Peru. After giving effect to certain adjustments and production for the first nine months of 2007, the company's estimate of proved reserves, net of royalties, as of Sept. 30, 2007, was 5.4 million barrels of oil.

On Nov. 20, 2007, Gran Tierra Energy announced that the company's net after royalty production had risen to 2,600 BOPD as the result of recent increased production from two new oil field discoveries in Colombia operated by Gran Tierra. A staged new field development program has been initiated to allow for continued production growth through 2008.

The first stage of development is being implemented at the new Costayaco oil field in the Chaza Block, located in the Putumayo Basin of Colombia. Production is being transported by truck to existing facilities, and a ten-kilometer, eight-inch pipeline is being designed to replace trucking operations. This pipeline is expected to have a physical capacity of up to 25,000 BOPD to handle any new production from future development wells, although the initial throughput will be limited to existing infrastructure capacity which is estimated at 5,000 to 6,000 BOPD. This pipeline is expected to be operational in mid-2008.

This report will also be accessible on an ongoing basis to the investment community ---- scores of buy-side institutions and sell-side firms that utilize S&P research and information platforms daily. Millions of self-directed investors also have access to the report via their e-brokerage accounts.

About Standard & Poor's Factual Stock Reports

This Standard & Poor's service provides factual research coverage enabling information about Gran Tierra Energy Inc. and other securities to reach a wide investor audience of Buy and Sell-side investors, helping them understand a company's fundamentals and business prospects. Currently profiling over 1,000 issuers, S&P Factual Stock Reports increase market awareness for issuers in the investment community with insightful commentary and key statistics/information. Updated weekly with the latest pricing, trading volume, and other data, the reports include recent developments, a financial review, key operating information, Industry and peer comparisons, institutional holdings analysis, Street Consensus and opinions, performance charts, business summary, fundamental data, and news. Because coverage of these reports is sponsored by the issuer, S&P does not offer investment opinions concerning the advisability of investing in these stocks.

Standard & Poor's Factual Stock Reports are produced separately from any other analytic activity of Standard & Poor's. Standard & Poor's Factual Report research has no access to non-public information received by other units of Standard & Poor's. Standard & Poor's does not trade on its own account.

Note: All U.S. and Canadian Companies listed on a National Exchange (not covered by S&P's STARS research) are eligible to obtain this coverage.

About Standard & Poor's

Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 7,500 employees, including wholly owned affiliates, located in 21 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com.

Source: Business Wire

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