REG - Gran Tierra Energy - Report on Payments to Govts
25/06/2025 07:00
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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/
(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
Country Payee Name Departments, Agency, etc… within Payee that Received Payments Taxes Royalties Fees Production Entitlements Bonuses Dividends Infrastructure Improvement Payments Total Amount paid to Payee Notes
Colombia NATIONAL GOVERNMENT OF COLOMBIA NATIONAL HYDROCARBON AGENCY OF COLOMBIA - 126,195,162 - - - - - 126,195,162 Paid in Colombian Pesos. Translated at the 2024 average foreign exchange
rate of 4,071.35.
Colombia NATIONAL GOVERNMENT OF COLOMBIA DIRECTORATE OF NATIONAL TAXES AND CUSTOMS OF COLOMBIA 48,767,308 - - - - - - 48,767,308 Paid in Colombian Pesos. Translated at the 2024 average foreign exchange
rate of 4,071.35.
Colombia NATIONAL GOVERNMENT OF COLOMBIA - - 865,715 - - - - 865,715 Paid in Colombian Pesos. Translated at the 2024 average foreign exchange
rate of 4,071.35.
Colombia MUNICIPALITY OF PUERTO ASÍS 588,503 - - - 104,907 - - 693,410 Paid in Colombian Pesos. Translated at the 2024 average foreign exchange
rate of 4,071.35.
Colombia MUNICIPALITY OF MOCOA 366,840 - - - 392,125 - - 758,965 Paid in Colombian Pesos. Translated at the 2024 average foreign exchange
rate of 4,071.35.
Colombia MUNICIPALITY OF SAN MARTIN 371,461 - - - 366,944 - - 738,405 Paid in Colombian Pesos. Translated at the 2024 average foreign exchange
rate of 4,071.35.
Colombia MUNICIPALITY OF VILLAGARZON 343,946 - - - 28,116 - - 372,062 Paid in Colombian Pesos. Translated at the 2024 average foreign exchange
rate of 4,071.35.
Colombia MUNICIPALITY OF RIO DE ORO 132,904 - - - 72,225 - - 205,129 Paid in Colombian Pesos. Translated at the 2024 average foreign exchange
rate of 4,071.35.
Colombia MUNICIPALITY OF PUERTO GUZMAN 137,578 - - - 3,754 - - 141,332 Paid in Colombian Pesos. Translated at the 2024 average foreign exchange
rate of 4,071.35.
Colombia MUNICIPALITY OF PIAMONTE 137,578 - - - 36,224 - - 173,802 Paid in Colombian Pesos. Translated at the 2024 average foreign exchange
rate of 4,071.35.
Colombia DISTRICT OF BOGOTA 230,416 - - - - - - 230,416 Paid in Colombian Pesos. Translated at the 2024 average foreign exchange
rate of 4,071.35.
Ecuador GOVERNMENT OF ECUADOR MINISTRY OF ENERGY AND NON-RENEWABLE NATURAL RESOURCES OF ECUADOR - - 72,000 - - - - 72,000 Paid in USD
Ecuador GOVERNMENT OF ECUADOR SECRETARIAT OF HIGHER EDUCATION, SCIENCE, TECHNOLOGY AND INNOVATION - - 300,000 - - - - 300,000 Paid in USD
Ecuador GOVERNMENT OF ECUADOR MINISTRY OF ENERGY AND NON-RENEWABLE NATURAL RESOURCES OF ECUADOR - - 285,000 - - - - 285,000 Paid in USD
Ecuador GOVERNMENT OF ECUADOR CENTRAL BANK OF ECUADOR - 23,338,241 - - - - - 23,338,241 Paid in USD
Ecuador GOVERNMENT OF ECUADOR INTERNAL REVENUE SERVICE 546,869 - - - - - - 546,869 Paid in USD
Ecuador DECENTRALIZED AUTONOMOUS MUNICIPAL GOVERNMENT OF LAGO AGRIO 122,901 - - - - - - 122,901 Paid in USD
Canada -Alberta GOVERNMENT OF ALBERTA ALBERTA ENERGY AND MINERALS - 771,275 68,308 - - - - 839,583 Amounts 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 -Alberta GOVERNMENT OF ALBERTA ALBERTA PETROLEUM MARKETING COMMISSION - 2,101,521 - - - - - 2,101,521 Amounts 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 -Alberta WOODLAND CREE FIRST NATION - - 642,336 - - - - 642,336 Amounts paid in Canadian dollars and translated at the 2024 average foreign
exchange rate of $1.37. Surface lease Acq Costs
Canada -Alberta STURGEON LAKE CREE NATION STURGEON LAKE RESOURCES LTD. - - 203,576 - - - - 203,576 Amounts paid in Canadian dollars and translated at the 2024 average foreign
exchange rate of $1.37. Surface lease Acq Costs.
Disclosure by Project
Country Project Name Taxes Royalties Fees Production Entitlements Bonuses Dividends Infrastructure Improvement Payments Total Amount paid by Project Notes
Colombia MIDDLE MAGDALENA BASIN 504,365 71,207,601 246,892 - 439,169 - - 72,398,027 Paid in Colombian Pesos. Translated at the 2024 average foreign exchange
rate of 4,071.35:1 USD
Colombia PUTUMAYO BASIN 1,574,445 54,460,950 336,629 - 565,126 - - 56,937,150 Paid in Colombian Pesos. Translated at the 2024 average foreign exchange
rate of 4,071.35:1 USD
Colombia ENTITY WIDE 48,997,723 729 116,703 - - - - 49,115,155 Paid in Colombian Pesos. Translated at the 2024 average foreign exchange
rate of 4,071.35:1 USD
Colombia LLANOS BASIN - 525,882 87,821 - - - - 613,703 Paid in Colombian Pesos. Translated at the 2024 average foreign exchange
rate of 4,071.35:1 USD
Colombia SINU BASIN - - 43,058 - - - - 43,058 Paid in Colombian Pesos. Translated at the 2024 average foreign exchange
rate of 4,071.35:1 USD
Colombia CATATUMBO BASIN - - 24,244 - - - - 24,244 Paid in Colombian Pesos. Translated at the 2024 average foreign exchange
rate of 4,071.35:1 USD
Colombia LOWER MAGDALENA BASIN - - 10,368 - - - - 10,368 Paid in Colombian Pesos. Translated at the 2024 average foreign exchange
rate of 4,071.35:1 USD
Ecuador CHARAPA - 10,041,689 219,000 - - - - 10,260,689 Paid in USD
Ecuador CHANANGUE - 13,296,552 219,000 - - - - 13,515,552 Paid in USD
Ecuador IGUANA - - 219,000 - - - - 219,000 Paid in USD
Ecuador ENTITY WIDE 669,771 - - - - - - 669,771 Paid in USD
Canada CENTRAL - 1,861,202 18,600 - - - - 1,879,802 Amounts 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.
Canada OTHER - 291,273 6,979 - - - - 298,252 Amounts 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.
Canada SIMONETTE - 615,498 209,873 - - - - 825,371 Amounts 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.
Canada WAPITI - 104,896 31,234 - - - - 136,130 Amounts 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.
Canada CLEARWATER - -73 647,534 - - - - 647,461 Amounts 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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