Gran Tierra Energy Announces Sale of Gran Tierra North Sea Limited

Rhea-AI Summary

Gran Tierra Energy (NYSE:GTE) has announced the sale of its subsidiary Gran Tierra North Sea Limited (GTNSL) to NEO Energy for US$7.5 Million. GTNSL owns a 100% equity stake in UKCS licence P2358, which includes the Serenity Discovery in the UK Continental Shelf. NEO Energy, a private upstream company, is a leading independent operator in the region. The transaction is expected to close in Q3 2025, subject to customary conditions including approval from the North Sea Transition Authority regarding the change in control of GTNSL.

Positive

• Sale of non-core asset generates US$7.5 Million in proceeds
• Transaction allows company to focus on core operations and streamline portfolio

Negative

• Relatively small transaction value of US$7.5 Million indicates limited financial impact

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.

FAQ

What is the value of Gran Tierra Energy's sale of GTNSL to NEO Energy?

Gran Tierra Energy is selling GTNSL to NEO Energy for US$7.5 Million.

When is the GTE North Sea Limited sale expected to close?

The transaction is expected to close in the third quarter of 2025.

What assets are included in Gran Tierra's sale to NEO Energy?

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

What regulatory approvals are needed for the GTE North Sea sale?

The transaction requires consent from the North Sea Transition Authority regarding the change of control of GTNSL.

Who is the buyer of Gran Tierra's North Sea assets?

NEO Energy, a private upstream company and leading independent operator in the United Kingdom Continental Shelf, is the buyer.