Gran Tierra Energy Successfully Drills Popa-2 Exploration Well



    
    Oil and Gas Shows Encountered; Preparations for Testing Program Initiated
    

    CALGARY, Alberta, June 27 /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 drilled the Popa-2
exploration well in the Rio Magdalena Block in central Colombia, and was
preparing to initiate well testing operations.
    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 logs have been run and preparations are being made to run a 7 inch
liner into the wellbore and then initiate drill stem testing operations.  Gran
Tierra Energy expects testing operations to take approximately two weeks and
to be completed by mid-July.
    Gran Tierra Energy encountered oil and gas shows during drilling in
sandstones in the Cretaceous Monserrate Formation, the primary reservoir
target in the Popa prospect, and in the underlying basement.  Electric log
interpretations together with mudlog and the shows encountered during drilling
indicate potential net hydrocarbon pay of approximately 80 feet has been
penetrated by the wellbore in the Monserrate Formation.
    Popa-2 was drilled 2,035 meters 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, "Preliminary results from Popa-2
are very exciting, building on the knowledge acquired from the drilling of
Popa-1 and the new 2-D seismic data that we have acquired since then.  Testing
of Popa-2 will determine the potential of this prospect and, if successful,
will confirm a new exploration play on our lands in Colombia."
    
    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 testing 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 March 31, 2008, filed with
the Securities and Exchange Commission on May 12, 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 
Al Palombo, Investor Relations 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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Gran Tierra Energy Inc.

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