Gran Tierra Energy

GTE-A

Colombia seems to be very solid from an oil/gas perspective. This company just keeps banging out the production and has been fairly steady and consistent. Thinks there is substantial growth coming in production.

Owns half a fabulous well, Costayaco in Colombia. The other half belongs to Solana (SOR-X). This one is cheaper is cheaper but is waiting for it to get its TSX listing. Also have assets in Argentina and many millions of acres in Peru, which they will farm out to the big boys

Drilling an important well, Costayaco 2 in Columbia along with Solana Resources (SOR-X).

Owns 50% in Costayaco, which is doing 2200 BOE's. Expect it will average 3150 in 2008. Doing 2600 BOE’s. Has a play in Argentina doing about 500/600 BOE's with exploration upside. Also long-term warrant in Peru where they have millions of acres and which has had some major discoveries by the majors. Planning joint ventures.