El Chivil

EL CHIVIL: Conventional Oil Upside

  • This block is located in the Northwest Basin of Argentina

  • MVN is the operator with 100% W.I. (30,394 net acres)

  • El Chivil is an Exploitation Concession with production and significant exploration upside

  • Certified W.I. 2P reserves of 144 Mbbl1 at Dec. 31, 2013

  • This block currently produces approximately 250 bopd

  • Production is from Palmar Largo and Yacoraite Fms.

  • Significant exploration upside in conjunction with Surubi field

  • Note: 1Based on the independent reserve reports of Gran Tierra evaluating the crude oil, natural gas liquids and natural gas reserves of Gran Tierra as at December 31, 2013 prepared by an independent reserves evaluator in accordance with National Instrument 51 101 Standards of Disclosure for Oil and Gas Activities (NI 51101) and the COGE Handbook. Adjustments made pursuant to internal management estimates conducted by a qualified reserves engineer. Adjustments consisted of reduced PUD locations due to rescheduling or removal of proven undeveloped and probable locations on the subject assets.