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Gran Tierra announced its capital expenditures (CAPEX) Budget for 2013 will be US$363M of which US$295M will be spent on drilling and seismic activities. Colombia will receive US$224M or 62% of the total. The company will spend US$67M on Brazil but may spend more if initial onshore exploration results prove positive. Its production guidance for 2013 is 20,000bd net of working interest and royalties, which would be about 33% more than 3Q12.

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