News and AnalysIs for

The Colombian government, through the National Hydrocarbons Agency (ANH), wants to promote new oil projects around Colombia. The ANH is analyzing new exploration areas and this created a controversy due to the possible interest in developing oil activities in the Galilea Forest. The ANH ruled on this issue.

Gran Tierra Energy (TSX: GTE) announced new agreements to acquire strategic assets located in the Putumayo and Llanos basins in Colombia.  The company is optimistic about the potential of these blocks and their benefits.

Hocol, subsidiary of Ecopetrol (NYSE: EC), announced its new CEO, who will start working in March 15th this year.

Gran Tierra Energy (TSX: GTE) started to develop El Portón project, which has generated much controversy. However, the company proactively spoke to the local press about a new well.

Parex Resources Inc. (TSX:PXT) announced its annual reserves as at December 31, 2018. The company pointed out that its proved reserves (1P) increased compared to the previous year. PXT recalled that its reserves are located in Colombia’s Llanos and Middle Magdalena basins.

Frontera Energy Corporation (TSX: FEC) announced an important agreement with Parex (TSX: PXT) to develop exploration and development activities in the Lower Magdalena Valley (VIM). In addition, the firm carried out an investor day in Bogotá.

Geopark (NYSE: GPRK) announced its oil and gas reserves certified independently by DeGolyer and MacNaughton Corp.  (D&M) under PRMS methodology. The firm pointed out that its 1P, 2P and 3P reserves increased in 2018.

The Colombian Association of Petroleum Engineers (Acipet) reported that the current president of its Board of Directors, engineer Julio César Vera, is stepping down.

Gran Tierra Energy (TSX: GTE) announced its 2018 year-end estimated reserves as evaluated by McDaniel & Associates Consultans Ltd. The firm reported its estimated prospective resources as well. GTE production increased in Colombia.

Walfredo Linhares, CEO of Bioenergy, spoke about the company’s ethanol production expectations for the coming years. He highlighted the relevance of the production plant located in the department of Meta.