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    Gran Tierra Energy - Report on Payments to Govts

    Picture of Gran Tierra Energy logoGran Tierra Energy
    25/06/2025 07:00
    RNS Number : 2614O

Gran Tierra Energy Inc.

24 June 2025

 

 

Gran Tierra Energy Inc.

 

Report on payments to governments for the year 2024

Introduction

 

Gran Tierra Energy Inc. ("Gran Tierra") has prepared the following report that sets out details of the payments made to governments for the year ended 31 December 2024 in accordance with the Reports on Payments to Governments Regulations 2014 (2014/3209) as amended by the Reports on Payments to Governments (Amendment) Regulations 2015 (2015/1928) and The Disclosure and Transparency Rule ("DTR 4.3A") issued by the Financial Conduct Authority.

 

This report is available for download from https://www.grantierra.com/sustainability/reporting/

Basis of preparation

 

The payments disclosed, which are on a cash basis in U.S Dollars, are based on where the obligation for the payment arose (i.e. at a project or corporate level). Where a payment or a series of related payments do not exceed £86,000, they are not required to be disclosed under the UK Regulations, however this has been disclosed in aggregate at a corporate level for clarity over obligations.

 

All of the payments disclosed in accordance with the Directive have been made to National Governments of Alberta, Colombia and Ecuador, either directly or through a Ministry or Department of the National Government and to Local Community Councils or municipalities in Canada, Colombia and Ecuador.

 

Taxes

 

This represents cash tax calculated on the basis of profits including income or capital gains. Income taxes are usually reflected in corporate income tax returns. The cash payment of income taxes occurs in the year in which the tax has arisen or up to one year later. Income taxes also include any cash tax rebates received from the Government or revenue authority during the year and excludes fines and penalties.

 

Royalties

 

This represents cash and in-kind royalties paid to Governments during the year for the extraction of oil or gas The terms of the royalties are described within Gran Tierra's 2024 Annual Report filed on form 10-K.

 

Fees

 

This represents supervision, licensing, permits, project assessment fees and other levies or consideration related to Gran Tierra's exploration and production contracts or to the overall management of our business.

Bonuses

 

This represents social investment program payments to the local communities or municipalities in Colombia.

 

 

Disclosure by Payee

 


    CountryPayee NameDepartments, Agency, etc… within Payee that Received PaymentsTaxesRoyaltiesFeesProduction EntitlementsBonusesDividendsInfrastructure Improvement PaymentsTotal Amount paid to PayeeNotes
    ColombiaNATIONAL GOVERNMENT OF COLOMBIANATIONAL HYDROCARBON AGENCY OF COLOMBIA-126,195,162-----126,195,162Paid in Colombian Pesos. Translated at the 2024 average foreign exchange rate of 4,071.35.
    ColombiaNATIONAL GOVERNMENT OF COLOMBIADIRECTORATE OF NATIONAL TAXES AND CUSTOMS OF COLOMBIA48,767,308------48,767,308Paid in Colombian Pesos. Translated at the 2024 average foreign exchange rate of 4,071.35.
    ColombiaNATIONAL GOVERNMENT OF COLOMBIA--865,715----865,715Paid in Colombian Pesos. Translated at the 2024 average foreign exchange rate of 4,071.35.
    ColombiaMUNICIPALITY OF PUERTO ASÍS588,503---104,907--693,410Paid in Colombian Pesos. Translated at the 2024 average foreign exchange rate of 4,071.35.
    ColombiaMUNICIPALITY OF MOCOA366,840---392,125--758,965Paid in Colombian Pesos. Translated at the 2024 average foreign exchange rate of 4,071.35.
    ColombiaMUNICIPALITY OF SAN MARTIN371,461---366,944--738,405Paid in Colombian Pesos. Translated at the 2024 average foreign exchange rate of 4,071.35.
    ColombiaMUNICIPALITY OF VILLAGARZON343,946---28,116--372,062Paid in Colombian Pesos. Translated at the 2024 average foreign exchange rate of 4,071.35.
    ColombiaMUNICIPALITY OF RIO DE ORO132,904---72,225--205,129Paid in Colombian Pesos. Translated at the 2024 average foreign exchange rate of 4,071.35.
    ColombiaMUNICIPALITY OF PUERTO GUZMAN137,578---3,754--141,332Paid in Colombian Pesos. Translated at the 2024 average foreign exchange rate of 4,071.35.
    ColombiaMUNICIPALITY OF PIAMONTE137,578---36,224--173,802Paid in Colombian Pesos. Translated at the 2024 average foreign exchange rate of 4,071.35.
    ColombiaDISTRICT OF BOGOTA230,416------230,416Paid in Colombian Pesos. Translated at the 2024 average foreign exchange rate of 4,071.35.
    EcuadorGOVERNMENT OF ECUADORMINISTRY OF ENERGY AND NON-RENEWABLE NATURAL RESOURCES OF ECUADOR--72,000----72,000Paid in USD
    EcuadorGOVERNMENT OF ECUADORSECRETARIAT OF HIGHER EDUCATION, SCIENCE, TECHNOLOGY AND INNOVATION--300,000----300,000Paid in USD
    EcuadorGOVERNMENT OF ECUADORMINISTRY OF ENERGY AND NON-RENEWABLE NATURAL RESOURCES OF ECUADOR--285,000----285,000Paid in USD
    EcuadorGOVERNMENT OF ECUADORCENTRAL BANK OF ECUADOR-23,338,241-----23,338,241Paid in USD
    EcuadorGOVERNMENT OF ECUADORINTERNAL REVENUE SERVICE546,869------546,869Paid in USD
    EcuadorDECENTRALIZED AUTONOMOUS MUNICIPAL GOVERNMENT OF LAGO AGRIO122,901------122,901Paid in USD
    Canada -AlbertaGOVERNMENT OF ALBERTAALBERTA ENERGY AND MINERALS-771,27568,308----839,583Amounts paid in Canadian dollars and translated at the 2024 average foreign exchange rate of $1.37.
    $771,015.47, AB Crown Royalty Gas & Liquids Net of GCA - G94167206 A8HW and $259.09 Compensatory Royalty. $68,307.92 Fees include Surface & Mineral Lease Rentals
    Canada -AlbertaGOVERNMENT OF ALBERTAALBERTA PETROLEUM MARKETING COMMISSION-2,101,521-----2,101,521Amounts paid in Canadian dollars and translated at the 2024 average foreign exchange rate of $1.37
    $2,101,520.5 Oil paid in-kind royalties, carried by i3. The value of in-kind payments was determined using the prevailing commodity prices at the time of transfer.
    Canada -AlbertaWOODLAND CREE FIRST NATION--642,336----642,336Amounts paid in Canadian dollars and translated at the 2024 average foreign exchange rate of $1.37. Surface lease Acq Costs
    Canada -AlbertaSTURGEON LAKE CREE NATIONSTURGEON LAKE RESOURCES LTD.--203,576----203,576Amounts paid in Canadian dollars and translated at the 2024 average foreign exchange rate of $1.37. Surface lease Acq Costs.
    

 

 

Disclosure by Project

 


    CountryProject NameTaxesRoyaltiesFeesProduction EntitlementsBonusesDividendsInfrastructure Improvement PaymentsTotal Amount paid by ProjectNotes
    ColombiaMIDDLE MAGDALENA BASIN504,36571,207,601246,892-439,169--72,398,027Paid in Colombian Pesos. Translated at the 2024 average foreign exchange rate of 4,071.35:1 USD
    ColombiaPUTUMAYO BASIN1,574,44554,460,950336,629-565,126--56,937,150Paid in Colombian Pesos. Translated at the 2024 average foreign exchange rate of 4,071.35:1 USD
    ColombiaENTITY WIDE48,997,723729116,703----49,115,155Paid in Colombian Pesos. Translated at the 2024 average foreign exchange rate of 4,071.35:1 USD
    ColombiaLLANOS BASIN-525,88287,821----613,703Paid in Colombian Pesos. Translated at the 2024 average foreign exchange rate of 4,071.35:1 USD
    ColombiaSINU BASIN--43,058----43,058Paid in Colombian Pesos. Translated at the 2024 average foreign exchange rate of 4,071.35:1 USD
    ColombiaCATATUMBO BASIN--24,244----24,244Paid in Colombian Pesos. Translated at the 2024 average foreign exchange rate of 4,071.35:1 USD
    ColombiaLOWER MAGDALENA BASIN--10,368----10,368Paid in Colombian Pesos. Translated at the 2024 average foreign exchange rate of 4,071.35:1 USD
    EcuadorCHARAPA-10,041,689219,000----10,260,689Paid in USD
    EcuadorCHANANGUE-13,296,552219,000----13,515,552Paid in USD
    EcuadorIGUANA--219,000----219,000Paid in USD
    EcuadorENTITY WIDE669,771------669,771Paid in USD
    CanadaCENTRAL-1,861,20218,600----1,879,802Amounts paid in Canadian dollars and translated at the 2024 average foreign exchange rate of $1.37.
    Includes AB, BC, IOGC & First Nations. $1,238,291.8 Oil paid in-kind royalties, carried by i3. The value of in-kind payments was determined using the prevailing commodity prices at the time of transfer.
    CanadaOTHER-291,2736,979----298,252Amounts paid in Canadian dollars and translated at the 2024 average foreign exchange rate of $1.37.
    Includes AB, BC, IOGC & First Nations. $276,590.52 Oil paid in-kind royalties, carried by i3. The value of in-kind payments was determined using the prevailing commodity prices at the time of transfer.
    CanadaSIMONETTE-615,498209,873----825,371Amounts paid in Canadian dollars and translated at the 2024 average foreign exchange rate of $1.37.
    Includes AB, BC, IOGC & First Nations. $561,849.16 Oil paid in-kind royalties, carried by i3. The value of in-kind payments was determined using the prevailing commodity prices at the time of transfer.
    CanadaWAPITI-104,89631,234----136,130Amounts paid in Canadian dollars and translated at the 2024 average foreign exchange rate of $1.37.
    Includes AB, BC, IOGC & First Nations. $27,789.03 Oil paid in-kind royalties, carried by i3. The value of in-kind payments was determined using the prevailing commodity prices at the time of transfer.
    CanadaCLEARWATER--73647,534----647,461Amounts paid in Canadian dollars and translated at the 2024 average foreign exchange rate of $1.37.
    Fees Included $645,620.44 First Nations Lease Acquisition
    

 

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