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Fitch says it would also consider a further upgrade if Gran Tierra diversifies its operations and enhances oil and gas sales prices.

Gran Tierra Energy announced that its net loss was $252 million compared with net income of $27 million in the Prior Quarter, due to lower revenues primarily from the collapse in oil price

PentaNova will issue 4.8 million common shares to the new management team “as the inducement to join the company.”

Herbert has worked for BP, Philips Petroleum, and Talisman Energy and has experience working in the oil sector in Colombia.

This is Gran Tierra's third big play in Colombia already this year after the Calgary-based firm acquired Petroamerica Oil and PetroGrenada in January.

Calgary, January 11, 2016 /CNW/ – Petroamerica Oil Corp. (TSX-V: PTA.V), an international oil and gas company operating in Colombia, has just announced that the plan of arrangement under the provisions of the Alberta (Canada) Business Corporations Act among Petroamerica,...

Petroamerica Oil Corp. (TSX-V: PTA), has announced that it has completed a vertical amalgamation with its wholly-owned subsidiaries, Aries Exploration Corp., Petroamerica Inc. and Petroamerica International Corp. pursuant to subsection 184(1) of the Business Corporations Act of...