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Gran Tierra Energy Inc confirms additional oil pay at Moqueta discovery, Colombia.

M2 EQUITYBITES-27 August 2010-Gran Tierra Energy Inc confirms additional oil pay at Moqueta discovery, Colombia(C)2010 M2 COMMUNICATIONS

Oil and gas company Gran Tierra Energy Inc (AMEX:GTE) (TSX:GTE) reported on Thursday the completion of initial testing of the Moqueta-2 delineation well in the Moqueta new field discovery on the Chaza Block in the Putumayo Basin, Colombia.

Gran Tierra Energy has a 100% working interest and is also the operator of the Chaza Block.

The company has completed initial testing on Moqueta-2 by collecting reservoir data and fluid samples from three zones. Well flows of up to 1,077 BOPD were achieved without assistance from pumps.

President and CEO Dana Coffield said that, compared with Moqueta-1, oil from Moqueta-2 flowed naturally at higher rates without pumps. In addition the oil column is thicker and the oil bearing zones are more productive.

The second delineation well, Moqueta-3, is planned to be drilled from the Moqueta-1 well pad location and is expected to spud mid-September 2010.

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Publication:M2 EquityBites (EQB)
Date:Aug 27, 2010
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