Gran Tierra Energy Net Production Grows to 15,000 Barrels of Oil Per Day at the End of First Quarter 2009

    Costayaco-7 Reaches Total Depth; Non-Strategic Assets to be Divested

    CALGARY, April 9 /CNW/ - Gran Tierra Energy Inc. (NYSE Amex:   GTE, TSX:
GTE), a company focused on oil exploration and production in South America,
today provided an update on the Company's first quarter oil production,
drilling operations, and planned property divestments.
    "Gran Tierra Energy ended the first quarter of the year by passing
another major milestone central to our growth strategy, as production reached
record levels," said Dana Coffield, President and Chief Executive Officer of
Gran Tierra Energy. "We remain focused on further development of the Costayaco
field, as well as continuing our evaluation and drilling of exploration
projects in Colombia and Peru, and maintaining our current position in


    Production at the end of the first quarter of 2009 reached a maximum of
15,334 barrels of oil per day (BOPD), net after royalty, and averaged
approximately 10,000 BOPD over the quarter. The increase in production is due
primarily to the continued development of the Costayaco field in the Chaza
Block in Colombia where Gran Tierra Energy has a 100% working interest and is
the operator.
    With Costayaco-5 coming online in a matter of days, Gran Tierra Energy
expects to maintain a production level of roughly 15,000 BOPD, net after
royalty, through the second quarter of 2009.


    Costayaco-7, spudded on February 13, 2009, was drilled in the extreme
northern lobe of the Costayaco structure approximately 2 kilometers northwest
of Costayaco-4, and reached total measured depth (MD) of 8,784 feet (8,783
feet true vertical depth) on March 30, 2009. Well logs indicate the presence
of reservoir sandstones in the Villeta T sand formation from 8,414 feet MD to
8,463 feet MD and in the Caballos formation from 8,565 feet MD to 8,716 feet
MD. The Upper Villeta T and Caballos reservoirs came in 59 feet lower than the
pre-drill prognosis due to the overlying middle Villeta section being thicker
than what was anticipated by seismic.
    Electric logs, mud logs, and pressure gradient data all indicated the
presence of an oil column in the Upper T sand although considerably less than
the pre-drill prognosis. Electric logs suggest the presence of oil in the
Caballos interval but pressure gradient data indicates only water is present.
Gran Tierra Energy will undertake additional testing of these reservoir
intervals to confirm the type of fluids present. If only water is confirmed in
the Caballos reservoir and a reduced column of oil is present in the Upper T
sand reservoir, the results will have a negative impact on the possible
reserves category. However, the results from these tests should not impact
reserves in the proved and probable categories.
    Construction at the Costayaco-8 location has been initiated 600 meters
south of Costayaco-1. Drilling is expected to commence in mid-May and take
approximately 30 to 45 days. Gran Tierra Energy anticipates the drilling of
Costayaco-9 and 10 will follow at locations yet to be determined.

    Property Divestment

    As part of an ongoing portfolio review of properties, Gran Tierra Energy
has selected certain non-core assets for divestiture. On March 31, 2009, Gran
Tierra Energy signed an asset purchase and sale agreement with Lewis Energy
Colombia, Inc. for Gran Tierra Energy's interests in the Guachiria Norte,
Guachiria, and Guachiria Sur blocks in the Llanos Basin of Colombia. Closing
is expected to take place on or around April 16, 2009. Principal terms include
consideration of US$7 million, plus settlement of outstanding issues between
Lewis Energy and Gran Tierra Energy's subsidiary, Solana Resources, comprising
an initial cash payment of US$4 million at closing, followed by 15 monthly
installments of US$200,000 each beginning June 1, 2009 and extending through
August 3, 2010. Gran Tierra Energy will retain a 10% overriding royalty
interest on the Guachiria Sur block in the event of a discovery, designed to
reimburse 200% of Gran Tierra Energy's net costs for previously acquired
seismic data. Gran Tierra Energy has agreed to assume any environmental
liabilities existing on the properties at the date of sale, estimated at
US$1.2 million. As a result of the divestiture, Gran Tierra Energy expects an
approximate US$6.2 million reduction in 2009 capital spending.
    "With Costayaco-7 now defining the northern limit of the field, we will
turn our attention to growing production capacity with Costayaco-8," Dana
Coffield added. "In addition, following careful review, we are divesting
certain non-core assets which will allow us to maintain our very strong
balance sheet, and allocate capital to those projects with the greatest
potential to generate increased shareholder value over time."

    About Gran Tierra Energy Inc.

    Gran Tierra Energy Inc. is an international oil and gas exploration and
production company, headquartered in Calgary, Canada, incorporated in the
United States, trading on the NYSE Amex Exchange (GTE) and the Toronto Stock
Exchange (GTE), and operating in South America. Gran Tierra Energy holds
interests in producing and prospective properties in Argentina, Colombia and
Peru. Gran Tierra Energy has a strategy that focuses on establishing 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 Investor
inquiries may be directed to or (866) 973-4873.
    Gran Tierra Energy's Securities and Exchange Commission filings are
available on a web site maintained by the Securities and Exchange Commission
at and on SEDAR at

    Forward-Looking Statements:

    The statements in this news release regarding Gran Tierra Energy's belief
that the company's production will be 15,000 BOPD, net after royalty, in the
second quarter of 2009, its plans to conduct additional testing and results of
drilling operations with respect to Costayaco-7, its drilling plans for
Costayaco-8, 9 and 10, its expectations for closing the asset sale and
receiving approximately US$6.2 million from the March 31, 2009 divestiture,
its beliefs regarding the benefits to its balance sheet from divesting certain
non-core assets, and the allocation of capital to projects with the potential
to increase shareholder value, are forward-looking statements or financial
outlook (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 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. There are a number of important factors that could
cause the results or outcomes discussed herein to differ materially from that
indicated by the forward-looking statements, including, among others: Gran
Tierra Energy's operations are located in South America, and unexpected
problems can arise due to guerrilla activity, technical difficulties and
operational difficulties which impact its testing and drilling operations and
the production, transport or sale of its products; geographic, political and
weather conditions can impact testing and drilling operations and the
production, transport or sale of its products; the risk that the current
global economic and credit crisis may impact oil prices and oil consumption
more than Gran Tierra Energy currently predicts; the risk that the property
divestiture does not close in accordance with its terms; and the risk that the
property divestiture will not have the anticipated reduction on capital
spending. 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 "Risk Factors" in Gran Tierra Energy's Annual
Report on Form 10-K filed February 27, 2009. These filings are available on a
Web site maintained by the Securities and Exchange Commission at and on SEDAR at The forward-looking
statements contained herein are expressly qualified in their entirety by this
cautionary statement. The forward-looking statements included in this document
are made as of the date of this document and Gran Tierra Energy disclaims any
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as
expressly required by applicable securities legislation.

For further information:

For further information: Dana Coffield, Gran Tierra Energy Inc.,
President & Chief Executive Officer, (866) 973-4873,; Tom
McMillan, Equicom Group, Investor Relations, (403) 536-5903,

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