Canaccord Genuity has been Appointed as Joint Broker to Gran Tierra Energy Inc.
Canaccord Genuity’s Corporate Broking Team is pleased to announce it has been appointed as Joint Broker to Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”).
Gran Tierra Energy Inc. is a Canada-based independent international energy company. The Company is focused on oil and natural gas exploration and production in Colombia and Ecuador. It is developing its portfolio of assets in Colombia and Ecuador. Its assets in Colombia represents 100% of its production with oil reserves and production mainly located in the Middle Magdalena Valley (MMV) and Putumayo Basin.
Gran Tierra is planning to drill 4-6 exploration wells in Colombia and Ecuador in 2023. The Ecuadorian exploration wells are to be drilled in a geological basin where over 6 billion bbl of oil has previously been produced. The Colombian wells are to be drilled in the same geological basin as the Putumayo. All of the core assets owned by Gran Tierra use waterflood recovery leading to higher oil recovery rates & lower natural declines with modest future development costs. This in turn leads to material free cash flow.
Going forward the Canaccord Genuity Corporate Broking team for Gran Tierra will consist of Henry Fitzgerald-O’Connor and Gordon Hamilton with Ben Knott leading the Sales effort.
This is the 14th new client appointment for Canaccord Corporate Broking in the last 12 months.