Gran Tierra Energy Inc (GTE)

[roadkilll]

Got my reply
Thank you for your email and interest in Gran Tierra.

The swap was cancelled due to the fact we did not get to our target of 80% participation, mostly likely given the rapidly increasing interest rate environment (case in point, the US Fed’s recent 75 basis point hike in their Fed Funds rate, with another 75 basis point hike likely next month, the most dramatic increases in 28 years).

This exchange was something we would have liked to do but certainly did NOT have to do, so we are not fussed at all about terminating the exchange. At this time and outlined in our April 19th press release management's expects to have year-end cash balance of $210 - $230 million versus the $300 million in debt coming due in 2025. We continue to target a net debt balance of between $400 - $500 million. There has been no changes in our strategy in terms of the issued guidance. Per the SEC’s ongoing disclosure and report of material developments requirements, Gran Tierra discloses material information on a timely basis as needed through press releases and other appropriate regulatory filings.