REG-Gran Tierra Energy Announces Sale of Gran Tierra North Sea Limited

Gran Tierra EnergyAnnouncement

04/06/2025 22:45

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CALGARY, Alberta , June 04, 2025 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc.
(“Gran Tierra” or the “Company”) (NYSE American:GTE) (TSX:GTE)
(LSE:GTE) today announced that a wholly owned subsidiary of the Company has
signed an agreement to sell its wholly owned subsidiary, Gran Tierra North
Sea Limited (“GTNSL”), to NEO Energy for total consideration of
US$7.5 Million. NEO Energy is a private upstream company and a leading
independent operator in the United Kingdom Continental Shelf.

GTNSL holds a 100% equity interest in UKCS licence P2358 which includes the
Serenity Discovery.

Completion of the transaction is subject to certain customary conditions
precedent, including consent from the North Sea Transition Authority in
respect of the change of control of GTNSL. The transaction is expected to
close sometime in the third quarter of 2025.

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. The
Company’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.

Contact Information

For investor and media inquiries please contact:

Gary Guidry
President & Chief Executive Officer

Ryan Ellson
Executive Vice President & Chief Financial Officer

+1-403-265-3221

info@grantierra.com

Forward Looking Statements and Legal Advisories:

This press release contains statements about future events 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”). All statements other than statements of
historical facts included in this press release, including those statements
preceded by, followed by or that otherwise include the words “expect,”
“plan,” “can,” “will,” “should,” and “believes,”
derivations thereof and similar terms identify forward-looking statements.
Among the important factors that could cause our actual results to differ
materially from the forward-looking statements in this press release include,
but are not limited to the risk factors detailed from time to time in Gran
Tierra’s periodic reports filed with the Securities and Exchange Commission,
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 February 24, 2025 and its other filings with the SEC. These filings are
available on the SEC website at http://www.sec.gov and on SEDAR+ at
www.sedarplus.ca. 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. 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