Gran Tierra Energy Announces Gas-Condensate Discovery; Combined Test Rate of 8.5 Million Cubic Feet of Gas Per Day and 236 Barrels of Oil and Condensate Per Day



    
    Popa-2 Results Confirms New Exploration Play in Rio Magdalena Block,
    Colombia

    
    CALGARY, Alberta, Aug. 14 /CNW/ -- Gran Tierra Energy Inc. (Amex:   GTE;
TSX: GTE), a company focused on oil exploration and production in South
America, today announced that it had successfully tested the Popa-2
exploration well in the Rio Magdalena Block in central Colombia at a combined
rate of 8.5 million cubic feet of gas per day and 236 barrels of oil and
condensate per day.  The well is being suspended for additional testing and
evaluation prior to production completion.
    Gran Tierra Energy initiated drilling of the Popa-2 exploration well in
the Rio Magdalena Block in the Middle Magdalena Basin, on May 8, 2008, and
reached total measured depth of 8,646 feet in basement on June 21, 2008.
Electric log interpretations together with mud log and the shows encountered
during drilling indicated potential hydrocarbon pay in the Guaduas Formation,
the Monserrate Formation, and Basement.  A drill-stem test (DST) program was
initiated on July 4 and a total of seven DST's were conducted; the test
program was completed on August 8, 2008.
    DST-1 and DST-2 tested Basement and the lower Monserrate Formation, and
recovered 58 barrels of water per day and 259 barrels of water per day
respectively by swabbing.
    DST-3 in the Monserrate Formation at 7,770 to 7,790 feet, tested 1.400
million standard cubic feet of gas per day with 85 barrels of 39.9 degree API
oil per day and 370 barrels of water per day, by natural flow from a 16/64"
choke.
    DST-4 in the Monserrate Formation at 7,730 to 7,760 feet, tested 3.186
million standard cubic feet of gas per day with 77 barrels of 61.3 degree API
condensate per day and only a trace of water, by natural flow from a 64/64"
choke.
    DST-5 in the upper Monserrate Formation at 7,624 to 7,630 feet, 7,640 to
7,646 feet, and 7,662 to 7,666 feet, tested 3.953 million standard cubic feet
of gas per day with 74 barrels of 61.7 degree API condensate per day and only
a trace of water, by natural flow from a 48/64" choke.
    DST-6 in the Guaduas Formation recovered 989 barrels of water per day by
natural flow and DST-7 in the Guaduas Formation recovered 15 barrels of water
per day by swabbing.
    The Popa-2 well bore will be suspended for further testing and evaluation
prior to production completion.
    Popa-2 was drilled to the same reservoirs at a shallower depth and 2,035
meters away from a non-commercial oil discovery made by Gran Tierra Energy in
2006 at Popa-1, which tested approximately 160 barrels of oil per day.  Gran
Tierra Energy acquired a new 89 kilometer 2-D seismic program after the
initial discovery, and used it to pick the location of Popa-2.
    Gran Tierra Energy, with a 100% working interest, is the operator of the
144,670 acre Rio Magdalena Block.  Under the terms of a recently completed
farm-in agreement, Omega Energy Colombia will earn a 60% share of the
company's interest by paying 100% of the costs associated with drilling,
testing and completing the Popa-2 well.  In the event of a commercial
discovery, Ecopetrol S.A. has a right to back in for a 30% working interest,
to be split proportionally between Gran Tierra Energy and Omega Energy
Colombia.
    Commenting on progress, Dana Coffield, President and Chief Executive
Officer of Gran Tierra Energy Inc., stated, "These initial test results from
Popa-2 are exciting, confirming a new exploration play initially identified on
our lands in 2006.  The Rio Magdalena block is a large block near existing
infrastructure with numerous leads and prospects for further testing as our
confidence in this new exploration play continues to mature."
    
    About Gran Tierra Energy Inc.:
    
    Gran Tierra Energy Inc. is an international oil and gas exploration and
production company operating in South America, headquartered in Calgary,
Canada, incorporated in the United States, and trading on the American Stock
Exchange (GTE) and the Toronto Stock Exchange (GTE). The company holds
interests in producing and prospective properties in Argentina, Colombia and
Peru. The company has a strategy that focuses on growing a portfolio of
producing properties, plus production enhancement and exploration
opportunities to provide a base for future growth. Additional information
concerning Gran Tierra Energy is available at http://www.grantierra.com.
Investor inquiries may be directed to info@grantierra.com or 1-800-916-GTRE
(4873).
    
    Forward Looking Statements:
    
    The statements in this news release regarding Gran Tierra Energy's plans
and expectations for Popa-2 and results of these testing operations are
forward looking information, forward looking statements or financial outlooks
(collectively, "forward-looking statements") under the meaning of applicable
securities laws, including Canadian Securities Administrators' National
Instrument 51-102 Continuous Disclosure Obligations and the United States
Private Securities Litigation Reform Act of 1995.  These forward-looking
statements are subject to risks, uncertainties and other factors that could
cause actual results or outcomes to differ materially from those contemplated
by the forward-looking statements.  Although, Gran Tierra Energy believes that
the assumptions underlying, and expectations reflected in, these
forward-looking statements are reasonable, it can give no assurance that these
assumptions and expectations will prove to be correct. Important factors that
could cause the results or outcomes discussed herein to differ materially from
those indicated by these forward-looking statements include, among other
things:  unexpected problems due to technical difficulties, operational
difficulties, guerilla activity, and weather conditions.  Further information
on potential factors that could affect Gran Tierra Energy are included in
risks detailed from time to time in Gran Tierra Energy's Securities and
Exchange Commission filings, including, without limitation, under the caption
"Item 1A - Risk Factors" in Part II of Gran Tierra Energy's Quarterly Report
on Form 10-Q for the period ended June 30, 2008, filed with the Securities and
Exchange Commission on August 11, 2008.  These filings are available on a Web
site maintained by the Securities and Exchange Commission at
http://www.sec.gov. The forward-looking statements contained herein are made
as at the date of this press release. Subject to its obligations under
applicable law, Gran Tierra Energy does not undertake an obligation to update
forward-looking or other statements in this release. Gran Tierra Energy's
forward-looking statements are expressly qualified in their entirety by this
cautionary statement.

    
     Contacts:
    

    
     Dana Coffield                           Al Palombo
     Gran Tierra Energy, Inc.                Cameron Associates
     President & Chief Executive Officer     Investor Relations
     (800) 916-4873                          (212) 245-8800 Ext. 209
     info@grantierra.com                     al@cameronassoc.com

    




For further information:

For further information: Dana Coffield, President & Chief Executive
Officer of Gran Tierra Energy, Inc., 1-800-916-4873, info@grantierra.com; or
Investors, Al Palombo of Cameron Associates, +1-212-245-8800, Ext. 209,
al@cameronassoc.com, for Gran Tierra Energy Inc. Web Site:
http://www.grantierra.com

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