Member Info for bigsmoke

banjo. my post was a fact. no opinion. on what ground do you feel entitled to say that - other than the obvious

not justifying drop IMHO.

give it time mr/ms nicla

to he/she that hath shall be given

?

while you wait for 20p it bounces off 21p and you have to chase the train down the tracks. ouch.

but that is only what brock's algo wants you to predict and think.....

still the drill bit turns.....

only wish we were still monthly updates - but the reason for Q updates was (17.10.18): "As the company moves into a busy period of drilling, it will be providing regular operational updates around these activities, alongside quarterly production updates, as per oil industry best practice disclosure."
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/AMER/13831356.html

repeat: "busy period of drilling". :)

about 10 or 12 years ago we were forced to 20p, before heading to 180p. someone might striving for same again.

spread.

/ /
/ /
/ /

... all buys

other chunky trades post close or report late

looks like confidence to me.

think that's fair to say.

Key Highlights

Achieved a new Company milestone with record high average annual production in 2018 of 36,209 BOE per day (“BOEPD�), 15% higher than 31,426 BOEPD(1) in 2017 and 38% higher than 26,216 BOEPD(1) in 2016; on a per share basis, production in 2018 was up 17% from 2017
Increased the Company's WI Proved plus Probable ("2P") reserves to 142 million BOE (99 percent oil), before tax 2P net present value discounted at 10% ("NPV10") to $2.7 billion and before tax 2P net asset value ("NAV") to $5.96 per share(2)
Gran Tierra's existing producing assets are forecasted to generate 2P oil and gas sales of $5.2 billion and before tax free cash flow(3) of $2.5 billion and after tax free cash flow(3) of $1.9 billion over the five year time period of 2019 to 2023
Increased average production in fourth quarter 2018 to a record high of 38,156 BOEPD, 11% higher than 34,477 BOEPD in fourth quarter 2017
Demonstrated ongoing strong annual financial performance in 2018:
Net income was $103 million, or $0.26 per share basic and diluted, compared with a net loss of $32 million, or $0.08 per share basic and diluted, in 2017
Return on capital employed increased to 12% from 8% in 2017
EBITDA(4) more than doubled, increasing 106% to $377 million, compared with $183 million in 2017, net debt(2) to EBITDA was 1.0 times at December 31, 2018
Funds flow from operations(4) increased by 39% to $306 million compared with $220 million in 2017, and funds flow from operations(4) per share increased by 41% to $0.79 per share in 2018 from $0.56 per share in 2017
Oil and gas sales increased by 45% to $613 million in 2018 compared with $422 million in 2017
Operating netback(4) per BOE increased by 36% compared with 2017 to $33.51 per BOE
Additional information on 2018 expenses:
Operating Expenses: increased to $8.49 per BOE compared with $7.47 per BOE in 2017, primarily due to higher power generation and equipment rental costs required to manage the facility capacity limitations in Acordionero field as a result of rapid production growth
Workover Expenses: increased to $2.63 per BOE compared with $1.88 per BOE in 2017, primarily as a result of pump failures due to unreliable power
Gran Tierra expects combined average operating and workover expenses in 2019 to trend lower to a range of $9.00 - $10.00 per BOE as the forecasted full ramp up of gas to power facilities at the Acordionero, Costayaco and Moqueta fields has an expected positive impact on power reliability, thereby reducing pump failure rates and the resultant expenses and diesel costs
Transportation Expenses: increased by 3% to $2.21 per BOE in 2018 from $2.15 per BOE in 2017
General and Administrative ("G&A") Expenses: decreased to $2.40 per BOE in 2018 from $2.55 per BOE in 2017

CALGARY, Alberta, Feb. 27, 2019 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. ("Gran Tierra" or the "Company") (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced the Company's financial and operating results for the fourth quarter and year ended December 31, 2018. All dollar amounts are in United States (“U.S.�) dollars unless otherwise indicated.

Production and reserves amounts are on an average working interest before royalties ("WI") basis unless otherwise indicated. Per barrel ("bbl") of oil equivalent ("BOE") amounts are on a WI sales basis. For per BOE amounts based on net after royalty ("NAR") production, see Gran Tierra's Annual Report on Form 10-K filed February 27, 2019. Unless otherwise expressly stated, all reserves, future net revenue and ancillary information contained in this press release have been calculated in compliance with Canadian National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101") and the Canadian Oil and Gas Evaluation Handbook ("COGEH") and are based on the Company's 2018 year-end estimated reserves as evaluated by the Company's independent qualified reserve evaluator McDaniel & Associates Consultants Ltd. ("McDaniel") in a report with an effective date of December 31, 2018 (the "GTE McDaniel Reserves Report").

The foregoing description of the Agreements does not purport to be complete and is qualified in its entirety by reference to the Agreements, which are attached as Exhibit 10.1, Exhibit 10.2, Exhibit 10.3 and Exhibit 10.4 to the 8-K filed with the United States Securities and Exchange Commission on February 25, 2019 and incorporated herein by reference. It is not intended to provide any other factual information about the Purchasers, the Vendors or their respective subsidiaries and affiliates. The Agreements contain representations and warranties by each of the applicable parties to the Agreements, which were made only for purposes of the Agreements and as of specified dates. The representations, warranties and covenants in the Agreements were made solely for the benefit of the parties to the Agreements; may be subject to limitations agreed upon by the contracting parties; may be made for the purposes of allocating contractual risk between the parties to the Agreements instead of establishing these matters as facts; and may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors. Investors should not rely on the representations, warranties and covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the Purchasers, the Vendors or any of their respective subsidiaries or affiliates. Moreover, information concerning the subject matter of the representations, warranties and covenants may change after the date of the Agreements, which subsequent information may or may not be fully reflected in Gran Tierra's public disclosures.

Entry into a Material Definitive Agreement

On February 20, 2019, Gran Tierra Resources Limited ("GTRL") and Gran Tierra Energy Colombia, LLC, through its Colombian branch ("GTEC"), indirect subsidiaries of Gran Tierra Energy, Inc. ("Gran Tierra"), and Southeast Investment Corporation, an indirect partially-owned subsidiary of Gran Tierra (together with GTRL and GTEC, the "Purchasers"), entered into sale agreements (collectively, the "Agreements") with Vetra Energía, S.L. ("Vetra") and Vetra Exploración y Producción Colombia S.A.S. ("Vetra E&P" and, together with Vetra, the "Vendors"), pursuant to which the Purchasers agreed to purchase from the Vendors all of the issued and outstanding shares of Vetra's wholly owned subsidiary, Vetra Southeast S.L.U. ("Vetra Southeast"), Vetra E&P's 50% working interest in the Putumayo-8 block ("PUT-8"), Vetra E&P's 100% working interest in the Llanos-5 Block ("LLA-5"), and Vetra E&P's entire interest in the Suroriente Block ("Suroriente"), in exchange for aggregate cash consideration of $104.2 million, subject to adjustments as set forth in the Agreements (each a "Transaction," and collectively, the "Transactions").

The closing of the Transactions is subject to the satisfaction or waiver of customary conditions, including compliance by each party in all material respects with certain of its covenants. The Transactions related to Vetra Southeast, Suroriente and LLA-5 are expected to close on or before March 11, 2019, following the provision of notice to the Superintendence of Industry and Commerce of the Republic of Colombia, with the Transaction related to Suroriente closing immediately following the Transactions related to Vetra Southeast. The Transaction related to PUT-8 is subject to a right of first refusal.

The Purchasers and Vendors have made customary representations and warranties in the Agreements. The Agreements also contain customary covenants and agreements, including covenants and agreements relating to the conduct of businesses during the interim period between the execution of the Agreements and consummation of the Transactions and the efforts of the parties to cause the Transactions to be completed. Subject to certain limitations on liability contained in the Agreements, the Purchasers agreed to indemnify the Vendors for breaches of representations and warranties, covenants and certain liabilities. The Agreements contains certain termination rights for both the Purchasers and the Vendors including, but not limited to, the right to terminate the Agreements (i) in the event that certain Transactions have not been consummated on or before April 20, 2019 or (ii) under certain conditions, including if there has been a failure to perform certain covenants by the other party.

just to repeat from last week or so: the OBA has capacity of 50-60,000 bopd.
If 5,000 bopd = c. $600,000 per month, then 50,000 would be $6M p/m and $72M p/a.