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Gran Tierra to acquire Petrolifera Petroleum

01/24/2011
Gran Tierra Energy Inc. will acquire Petrolifera Petroleum Ltd. in a deal worth $195 million. Both are Calgary firms that operate in South America.Petrolifera's board approved the deal and recommended that shareholders approve it at a meeting to be scheduled in March 2011.Petrolifera's yearend 2009 reserves were 7.8 million bbl of oil equivalent proved and 14.3 million boe proved and probable. The acquisition will boost Gran Tierra's reserves to 29.5 million boe proved and 41.7 million boe proved and probable.Petrolifera owns an interest in 11 exploration and production blocks. Three are in Colombia, three in Peru, and five in Argentina. The Colombian blocks total 850,000 acres in the Low...
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