Gran Tierra Energy Inc. Reports Second Quarter 2026 Results

Gran Tierra Energy Inc. Achieved Total Company Average Second Quarter Production of 41,501 BOEPD 1 Net Income of $25 Million , Adjusted EBITDA 2 of $85 Million and Positive Free Cash Flow Announcement of Prospective and Contingent Resource Report on Dawson Clearwater and Mount Head Areas in Canada Completed Suroriente Capital Carry Improving Profitability of the Block Announcement of the Disposition of Lodgepole Assets for C$12.8 Million Satisfied the Conditions Precedent for Tisquirama Contract Providing Further Growth Potential in Colombia CALGARY, Alberta, Aug. 05, 2026 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc . (“Gran Tierra” or the “Company”) (NYSE American:GTE) (TSX:GTE) (LSE:GTE) announced the Company’s financial and operating results for the quarter ended June 30, 2026 (the “Quarter” ). All dollar amounts are in United States ( “U.S.” ) dollars and all reserves and production volumes are on an average working interest ( “WI” ) before royalties basis unless otherwise indicated. Production is expressed in barrels ( “bbl” ) of oil equivalent ( “boe” ) per day ( “boepd” or “boe/d” ) and are based on WI sales before royalties. For per boe amounts based on net after royalty ( “NAR” ) production, see Gran Tierra’s Quarterly Report on Form 10-Q filed August 4, 2026. Message to Shareholders Gary Guidry, President and Chief Executive Officer of Gran Tierra, commented: “Our second quarter results benefited from a stronger commodity price environment, reduced total operating costs and the continued strength of our portfolio, with production within our guidance range and improved margins and cash generation across the business. During the Quarter, we advanced several priorities that make our portfolio more durable. We completed our capital carry at Suroriente, improving the profitability on the block and satisfied the conditions precedent for the Tisquirama contract, adding another growth opportunity in Colombia. In Ecuador, we received additional field development plan approvals and are transitioning from exploration into development. In Canada, we continued to optimize the portfolio with the sale of our Lodgepole assets and sharpened our focus on the resource potential in the Dawson Clearwater and Mount Head areas. The resource report disclosed in this release speaks to the scale of that opportunity, and Dawson Clearwater and Mount Head will be a focus of our drilling activity in 2027. Looking ahead, our priorities remain unchanged. We will allocate capital with discipline, operate our fields safely and reliably, and continue to strengthen our balance sheet, generate free cash flow and build long-term value for our shareholders.” Dawson Clearwater and Mount Head Resource Report: McDaniel, effective June 30, 2026, assigned Gran Tierra unrisked best estimate contingent resources (2C) of approximately 6.5 MMbbl at Dawson Clearwater, and unrisked best-estimate prospective resources (P50) of approximately 55 MMbbl at Dawson Clearwater and 12 MMbbl at Mount Head. Combined, this represents approximately 67 MMbbl of unrisked best-estimate prospective resources. On a mean basis, unrisked prospective resources are approximately 72 MMbbl and risked mean prospective resources are approximately 33 MMbbl. Gran Tierra operates both plays and holds a 100% working interest at Dawson Clearwater and Mount Head. The Company holds approximately 139 net sections in the Clearwater area and 30 net sections at Mount Head, roughly 108,000 net acres in total. McDaniel's Clearwater estimates cover only the 41 net sections at Dawson and Seal. The remaining Clearwater acreage carries no assigned resources at this time. Shallow depths and horizontal multilateral drilling give the Clearwater low drilling and completion costs relative to other Western Canadian o...