REG-Gran Tierra Energy Inc. Announces Disposition of Simonette Assets

Gran Tierra EnergyAnnouncement

19/02/2026 21:30

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CALGARY, Alberta, Feb. 19, 2026 (GLOBE NEWSWIRE) -- Gran Tierra Energy
Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE) (TSX:GTE)
(LSE:GTE) is pleased to announce that it has entered into a purchase and sale
agreement to sell its remaining working interest in the Simonette asset for
total cash consideration of C$62.5 million and will have an effective date of
January 1, 2026. The transaction completes Gran Tierra’s exit from Simonette
and will deliver cash proceeds that will be directed toward deleveraging the
balance sheet. This divestiture reflects the Company’s continued focus on
portfolio optimization, free cash flow, disciplined capital allocation, and
strengthening its financial position by reallocating capital toward
higher-return opportunities across its core operating areas. Closing of the
transaction is expected to occur during the first quarter of 2026, subject to
the satisfaction of customary closing conditions.

Contact Information

For investor and media inquiries please contact:

Gary Guidry, Chief Executive Officer

Ryan Ellson, Executive Vice President & Chief Financial Officer

+1-403-265-3221
info@grantierra.com

About Gran Tierra Energy Inc.

Gran Tierra Energy Inc., together with its subsidiaries, is an independent
international energy company currently focused on oil and natural gas
exploration and production in Canada, Colombia and Ecuador. The Company is
currently developing its existing portfolio of assets in Canada, Colombia and
Ecuador and will continue to pursue additional new growth opportunities that
would further strengthen the Company’s portfolio. The Company’s common
stock trades on the NYSE American, the Toronto Stock Exchange and the London
Stock Exchange under the ticker symbol GTE. Additional information concerning
Gran Tierra is available at www.grantierra.com. Except to the extent expressly
stated otherwise, information on the Company’s website or accessible from
our website or any other website is not incorporated by reference into and
should not be considered part of this press release. Investor inquiries may be
directed to info@grantierra.com or (403) 265-3221.

Gran Tierra’s filings with the U.S. Securities and Exchange Commission (the
“SEC”) are available on the SEC website at http://www.sec.gov. Gran
Tierra’s Canadian securities regulatory filings are available on SEDAR+ at
http://www.sedarplus.ca and UK regulatory filings are available on the
National Storage Mechanism website at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Forward Looking Statements and Legal Advisories:

This press release contains opinions, forecasts, projections, and other
statements about future events or results that constitute forward-looking
statements within the meaning of the United States Private Securities
Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended,
and financial outlook and forward looking information within the meaning of
applicable Canadian securities laws (collectively, “forward-looking
statements”), which can be identified by such terms as “expect,”
“plan,” “can,” “will,” “should,” “guidance,”
“estimate,” “forecast,” “signal,” “progress” “believes”
and “remains subject to,” derivations thereof and similar terms are
intended to identify forward-looking statements. Such forward-looking
statements include, but are not limited to, estimated quantities and net
present values of reserves and other resources, capital program, and the
ability to fund the Company’s exploration program over a period of time,
statements about the Company’s financial and performance targets and other
forecasts or expectations regarding, or dependent on, the Company’s business
outlook for 2026 and beyond, capital spending plans and any benefits of the
changes in our capital program or expenditures, well performance, production,
the restart of production and workover activity, future development costs,
infrastructure schedules, waterflood impacts and plans, growth of referenced
reserves and other resources, forecast prices, five-year expected oil sales
and cash flow and net revenue, estimated recovery factors, liquidity and
access to capital, the Company’s strategies and results thereof, the
Company’s expectations regarding organic and inorganic growth opportunities,
the expected closing of the disposition of the Company’s interest in the
Simonette Montney asset and the anticipated use of proceeds therefrom, the
Company’s operations including planned operations and developments,
disruptions to operations and the decline in industry conditions, and
expectations regarding environmental commitments.

The forward-looking statements contained in this press release reflect several
material factors and expectations and assumptions of Gran Tierra including,
without limitation, that Gran Tierra will continue to conduct its operations
in a manner consistent with its current expectations, the accuracy of testing
and production results and seismic data, pricing and cost estimates (including
with respect to commodity pricing and exchange rates), rig availability, the
effects of drilling down-dip, the effects of waterflood and multi-stage
fracture stimulation operations, the extent and effect of delivery
disruptions, and the general continuance of current or, where applicable,
assumed operational, regulatory and industry conditions in Canada, Colombia,
Ecuador and Azerbaijan and areas of potential expansion, and the ability of
Gran Tierra to execute its business and operational plans in the manner
currently planned. Gran Tierra believes the material factors, expectations and
assumptions reflected in the forward-looking statements are reasonable at this
time, but no assurance can be given that these factors, expectations and
assumptions will prove to be correct.

Among the important factors that could cause actual results to differ
materially from those indicated by the forward-looking statements in this
press release are: certain of Gran Tierra’s operations are located in South
America and the Company is pursuing activities in other international
jurisdictions, including Azerbaijan, and unexpected problems can arise due to
guerilla activity, strikes, local blockades or protests, civil unrest,
sanctions-related restrictions, or other political instability; technical
difficulties and operational difficulties may arise which impact the
production, transport or sale of Gran Tierra’s products; other disruptions
to local operations; global and regional changes in the demand, supply,
prices, differentials or other market conditions affecting oil and natural
gas, including inflation and changes resulting from a global health crisis,
geopolitical events, including the ongoing conflicts in Ukraine, the Middle
East and Venezuela, or from the imposition or lifting of crude oil production
quotas or other actions that might be imposed by OPEC and other producing
countries and resulting company or third-party actions in response to such
changes; changes in commodity prices, including volatility or a prolonged
decline in these prices relative to historical or future expected levels; the
risk that current global economic and credit conditions may impact oil and
natural gas prices and oil and natural gas consumption more than Gran Tierra
currently predicts, which could cause Gran Tierra to further modify its
strategy and capital spending program; prices and markets for oil and natural
gas are unpredictable and volatile; the effect of hedges, the accuracy of
productive capacity of any particular field; geographic, political and weather
conditions can impact the production, transport or sale of Gran Tierra’s
products; the ability of Gran Tierra to execute its business plan, which may
include acquisitions, and realize expected benefits from current or future
initiatives; the risk that unexpected delays and difficulties in developing
currently owned properties may occur; the ability to replace reserves and
production and develop and manage reserves on an economically viable basis;
the accuracy of testing and production results and seismic data, pricing and
cost estimates (including with respect to commodity pricing and exchange
rates); the risk profile of planned exploration activities; the effects of
drilling down-dip; the effects of waterflood and multi-stage fracture
stimulation operations; the extent and effect of delivery disruptions,
equipment performance and costs; actions by third parties; the timely receipt
of regulatory or other required approvals for Gran Tierra’s operating
activities; the failure of exploratory drilling to result in commercial wells;
unexpected delays due to the limited availability of drilling equipment and
personnel; volatility or declines in the trading price of Gran Tierra’s
common stock or bonds; the risk that Gran Tierra does not receive the
anticipated benefits of government programs, including government tax refunds;
Gran Tierra’s ability to comply with financial covenants in its credit
agreement and indentures and make borrowings under its credit agreement; risks
that the disposition of the Company’s interest in the Simonette Montney
asset may not close on the expected timeline or at all; and the risk factors
detailed from time to time in Gran Tierra’s periodic reports filed with the
SEC, including, without limitation, under the caption “Risk Factors” in
Gran Tierra’s Annual Report on Form 10-K for the year ended December 31,
2024 filed on February 24, 2025 and its other filings with the SEC. These
filings are available on the SEC’s website at http://www.sec.gov and on
SEDAR at www.sedar.com.

The forward-looking statements contained in this press release are based on
certain assumptions made by Gran Tierra based on management's experience and
other factors believed to be appropriate. Gran Tierra believes these
assumptions to be reasonable at this time, but the forward-looking statements
are subject to risks and uncertainties, many of which are beyond Gran Tierra's
control, which may cause actual results to differ materially from those
implied or expressed by the forward-looking statements. All forward-looking
statements are made as of the date of this press release and the fact that
this press release remains available does not constitute a representation by
Gran Tierra that Gran Tierra believes these forward-looking statements
continue to be true as of any subsequent date. Actual results may vary
materially from the expected results expressed in forward-looking statements.
Gran Tierra 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 law