BRIEF-Gran Tierra Energy Inc announces Colombian peso hedging program

Wed Jun 8, 2016 3:03pm EDT
 
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June 8 (Reuters) - Gran Tierra Energy Inc :

* Gran Tierra Energy Inc. announces Colombian peso hedging program

* Transacted Colombian peso hedges with two banks, providing additional stability to forecasted cash outflows for $36 million USD from June 2016 to May 2017

* Receipt of a positive decision from Chamber of Commerce of Bogota Center for Arbitration and Conciliation Tribunal

* Tribunal found HPR royalty under Chaza contract was only payable when oil production from Moqueta Exploitation exceeded 5 million barrels

* Production threshold was reached on April 30, 2015,co has been paying HPR royalty on production from Moqueta Exploitation Area Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)