The following is a summary of the Gran Tierra Energy Inc. (GTE) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Gran Tierra completed its acquisition of i3 Energy, diversifying and strengthening their asset base significantly.

• Q3 2024 funds flow from operations was $60 million, up 31% from the prior quarter.

• Adjusted EBITDA for Q3 2024 was $93 million, down from $103 million in the prior quarter.

• Q3 2024 net income stood at $1 million.

• Cash balance as of Q3 end was $278 million, with net debt at $509 million, expected to decrease post the i3 acquisition settlement.

Business Progress:

• Acquisition of i3 Energy expands Gran Tierra's presence into Canada, adding significant reserves and drilling locations.

• Continued development in South America and new opportunities in Canadian assets.

• Enhancement of operational efficiencies, particularly in water treatment and transportation.

Opportunities:

• The i3 acquisition opens new opportunities in Canadian oil markets and increases the reserve base, supporting long-term growth.

• Expected natural gas price recovery with major LNG projects coming online.

Risks:

• Lower oil prices and widened differentials impacted revenues and operating netbacks.

• Cash taxes were higher due to surtaxes linked to high oil prices in Colombia.

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