Gran Tierra posts record 90 MMBOE proved reserves; guides 32-35K bopd for 2024

GRAN TIERRA ENERGY INC.

2023 year-end total proved reserves of 90 MMBOE, a record high; 154% 1P reserves replacement.
Before-tax NPV10 of $1.9 billion (1P), $3.1 billion (2P); NAV per share $44.48 (1P pre-tax).
2024 base-case production guidance of 32,000-35,000 BOPD (up 4% vs 2023); capex $210-240 million.
2024 base-case cash flow forecast $280-320 million; free cash flow after exploration $75 million mid-point.
Plan to allocate up to 50% of free cash flow to share buybacks; 7.1% of shares repurchased in 2023.

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