Gran Tierra Preparing to Test Exploration Well in Colombia



    Oil Shows Encountered in Four Zones

    CALGARY, Canada, March 19 /CNW/ - Gran Tierra Energy Inc. (OTC Bulletin
Board: GTRE) today announced that it has successfully drilled and logged a new
field wildcat well in the Guayuyaco Block, Putumayo Basin, in southern
Colombia. Gran Tierra Energy holds a 50% working interest and is Operator of
this block. Partner, Solana Resources Limited, holds a 50% working interest
and Ecopetrol has a 30% interest back-in right on commercial discoveries.  If
Ecopetrol exercises its back-in right, then Gran Tierra Energy will hold a 35%
working interest and retain Operatorship, and Solana Resources Limited will
hold a 35% working interest in the new commercial field.
    Gran Tierra reported that its Juanambu-1 well reached a total measured
depth of 9,154 feet on March 10, 2007. The well encountered reservoir quality
sandstones with hydrocarbon shows in four zones. Initial log interpretations
indicate potential oil pay in the T Sandstone Unit of the Villeta Formation
and in the Caballos Formation. There is additional potential oil pay in the Kg
Sand Unit of the Rumiyaco Formation and in the U Sandstone Unit of the Villeta
Formation, subject to confirmation by planned well testing. The four
reservoirs encountered are proven producing reservoirs in oil fields in the
adjacent Santana Block operated by Gran Tierra. The Juanambu-1 well bore is
currently being cased. A service rig with test equipment will move to the
Juanambu-1 location to run a completion string and initiate testing of the
hydrocarbon zones in early April.
    The Pride-17 drilling rig will be mobilized to the adjoining Chaza Block
to drill the Costayaco-1 exploration well once the Juanambu-1 well bore is
cased. Gran Tierra currently expects drilling of Costayaco-1 to commence in
early April. Gran Tierra is the operator of the Chaza block with a 50% working
interest.
    Dana Coffield, President and Chief Executive Officer of Gran Tierra,
stated, "These early positive evaluation results justify an extensive testing
program to evaluate the commercial potential of the encountered hydrocarbons
zones. The results of this testing activity will be particularly interesting
to us as the Juanambu structure is in close proximity to adjacent land and
infrastructure operated by Gran Tierra Energy."

    
    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. The Company holds
interests in producing and prospective properties in Argentina, Colombia and
Peru. To date, the Company has pursued a strategy that focuses on establishing
a portfolio of producing properties, development and exploration
opportunities, through selective acquisitions, to provide a base for future
growth. Additional information concerning Gran Tierra 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 statement in this press release regarding the timing of the
commencement of drilling of the Costayaco-1 exploration well in early April is
a 'forward-looking statement' within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934. This statement is expressed in good faith and based upon a
reasonable basis when made, but there can be no assurance that this
expectation will be achieved or accomplished. Although this forward-looking
statement reflects 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, mechanical
problems and delays in preparation of the drill site. Readers are urged not to
place undue reliance on this forward-looking statement, which speak only as of
the date of this release. Gran Tierra assumes no obligation to update this
forward-looking statement in order 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 made by Gran Tierra in its reports filed with
the Securities and Exchange Commission, including those risks set forth in the
Gran Tierra's Annual Report on Form 10-KSB filed on March 10, 2006, as
amended, which attempt to advise interested parties of the risks and factors
that may affect Gran Tierra's business, financial condition, results of
operation and cash flows. If one or more of these risks or uncertainties
materialize, or if the underlying assumptions prove incorrect, Gran Tierra's
actual results may vary materially from those expected or projected. Gran
Tierra undertakes no obligation to update forward looking statements.





For further information:

For further information: Dana Coffield Chief Executive Officer of Gran
Tierra Energy Inc., +1-403-265-3221 ext. 222, info@grantierra.com, or Al
Palombo, Investor Relations of Cameron Associates, +1-212-245-8800 ext. 209,
al@cameronassoc.com; Web Site: http://www.grantierra.com

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Gran Tierra Energy Inc.

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