Gran Tierra Energy confirms significant reserves at Peru oil field

|About: Gran Tierra Energy, Inc (GTE)|By:, SA News Editor

Gran Tierra Energy (GTE) +2.4% AH after confirming "significant" reserves at the Breana Oil Field in Peru.

On a proved plus probable and proved plus probable plus possible basis, GTE says the field reserves nearly double the total corporate reserves booked at year-end 2012.

CEO Dana Coffield says the discovery is a "dramatic reserve addition," and is expected to provide significant growth for GTE and assist Perupetro in achieving its objective to bring new oil to the market for Peru in the coming decade.