Gran Tierra Energy, Inc announced progress in the drilling of the Ramon Lista-1001 well located approximately 10 kilometers north-west of the Palmar Largo Field in the Noroeste Basin of Argentina. Gran Tierra holds a 14% interest in the Palmar Largo Joint Venture, currently producing approximately 340 barrels per day (net before royalties) to the Company. Ramon Lista-1001 was spudded on September 25, 2005. Its primary objective is the Palmar Largo Formation, the major producing horizon of the Palmar Largo Field. An upper member of the Yacoraite Formation, the Puesto Guardian, is a secondary objective. The total depth is projected to be 4,330 meters. At this time the well has reached 4,028 meters and a 9-7/8? liner has now been installed. It is expected that the well will reach the total depth by mid-December and testing of the primary target is expected by early January.
