Gran Tierra Energy Initiates Drilling of Costayaco-2 in Colombia



    First of Two Scheduled Delineation Wells for New Costayaco Field

    CALGARY, CANADA, December 11 /CNW/ - Gran Tierra Energy Inc. (OTC
Bulletin Board: GTRE), a company focused on oil exploration and production in
South America, today announced that the company has initiated drilling
Costayaco-2 in the Chaza Block, located in the Putumayo Basin of southern
Colombia.

    Costayaco-2 is the first of two delineation wells that will be drilled in
the Costayaco field. Drilling is anticipated to take approximately one month
with completion and testing operations to follow. The second delineation well,
Costayaco-3, will be drilled in the first quarter of 2008 following completion
of Costayaco-2.

    The Costayaco oil field was discovered in the second quarter of 2007. The
discovery well, Costayaco-1, tested a maximum of 5,906 barrels of oil per day
(BOPD) from four reservoirs. The well has recently been producing
approximately 2,200 BOPD (approximately 1,000 BOPD, net to Gran Tierra Energy
after royalty) from a single zone on natural flow with production trucked to
the nearby Toroyaco facility. During this period infrastructure at Uchupayaco,
to handle new production, has been under construction. Testing of a jet-pump
that will commingle production from two zones is currently under way.

    Crude oil loading and unloading facilities for trucking operations from
the Costayaco field to the existing pipeline network at Uchupayaco have been
completed and trucking to this facility initiated. Planning for a 15 kilometer
8 inch production line from Costayaco to Uchupayaco is continuing.
Construction of the production line is scheduled to start in March, 2008, and
be completed in mid-2008.

    The acquisition of 70 square kilometers of new 3-D seismic data over the
Costayaco field was completed in early December and the data is currently
being processed. The interpretation results from this data will be used for
planning additional wells in 2008.

    Gran Tierra Energy holds a 50% working interest and is the Operator of
the Chaza Block. Solana Resources Limited holds the remaining 50% working
interest. The Chaza Block is subject to the new and fiscally attractive
Agencia Nacional de Hidrocarburos royalty/tax contract which includes no
additional state participation.

    Dana Coffield, President and CEO of Gran Tierra Energy, stated "The
delineation drilling that we are now initiating will increase our production
and greatly enhance our understanding of the full reserve potential of the
Costayaco oil discovery. These results, integrated with our new 3-D seismic
data, will allow us to plan a full field development, including additional
drilling, facilities and pipeline to handle additional production as
appropriate through 2008."

    About Gran Tierra Energy Inc.

    Gran Tierra Energy Inc. is an international oil and gas exploration and
production company, headquartered in Calgary, Canada, incorporated and traded
in the United States and operating in South America. Gran Tierra Energy holds
interests in producing and prospective properties in Argentina, Colombia and
Peru. The company strategy is focused on establishing a portfolio of drilling
opportunities to exploit undeveloped reserves to grow production, as well as
undertaking exploration to grow future reserves. Additional information
concerning Gran Tierra Energy is available at 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 press release regarding Gran Tierra Energy's
expectations with respect to the timing and drilling of Costayaco-2 and
Costayaco-3 and the timing of construction of the production line, the
benefits which will result to Gran Tierra Energy from the drilling and the 3-D
seismic data, and the use to which the data will be put, are 'forward-looking
statements' within the meaning of Section 27A of the United States Securities
Act of 1933, as amended, and Section 21E of the United States Securities
Exchange Act of 1934. Although these forward-looking statements reflect the
good faith judgment of management, forward-looking statements are inherently
subject to known and unknown risks and uncertainties that may cause actual
results to be materially different from those discussed in these
forward-looking statements including, but not limited to, in the case of these
forward-looking statements, unexpected delays in field operations to acquire
the data due to equipment failure or other unforeseen reasons; unforeseen
events, such as unexpected difficulties in drilling or unexpected discoveries,
may cause Gran Tierra Energy to reallocate resources, which may delay the
acquisition of data, the completion of drilling Costayaco-2, the drilling of
Costayaco-3 and/or the construction of the production line; and unexpected
costs may decrease funds available to carry out Gran Tierra Energy's plans
described in the press release, which could delay or prevent execution of
these plans. Readers are urged not to place undue reliance on these
forward-looking statements, which speak only as of the date of this release.
Gran Tierra Energy assumes no obligation to update these forward-looking
statements to reflect any event or circumstance that may arise after the date
of this release, other than as may be required by applicable law or
regulation. Readers are urged to carefully review and consider the various
disclosures, including the risk factors, made by Gran Tierra Energy in its
reports filed with the Securities and Exchange Commission, in particular under
the caption "Item 1A - Risk Factors" of its quarterly report on Form 10-Q
filed on November 8, 2007, which attempt to advise interested parties of the
risks and factors that may affect Gran Tierra Energy's business. If one or
more of these risks or uncertainties materialize, or if the underlying
assumptions prove incorrect, Gran Tierra Energy's actual results may vary
materially from those expected or projected.




For further information:

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

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Gran Tierra Energy Inc.

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