Gran Tierra Energy (NYSE: GTE) reported Q4 EPS of $0.26, versus ($0.08) reported last year.

Message to Shareholders

Gary Guidry, President and Chief Executive Officer of Gran Tierra, commented: "In 2018, our returns-focused strategy with an emphasis on profitable production growth generated strong financial results. Gran Tierra's high-quality, operated, diversified suite of assets in Colombia delivered material year-on-year improvements in several important metrics, including a 15% increase in production, a 424% increase in net income, a 45% increase in oil and gas sales per BOE, a 36% improvement in operating netback per BOE and an increase of 41% in funds flow from operations per share.

With our high netback production, low declines and large resource base and drilling inventory, we demonstrated in 2018 that Gran Tierra has created a sustainable business model which we expect to be fully funded by forecasted cash from operating activities in 2019. Since we operate over 90% of our production and have a 100% WI in 18 out of 27 of our blocks, including 16 out of 16 in the Putumayo, Gran Tierra also has significant control and flexibility on capital allocation and timing during volatile periods in oil price and capital markets. Our 1,100,000 net acres in the Putumayo, 715,000 net acres in the Llanos and 87,000 net acres in the Middle Magdalena Valley give Gran Tierra a significant amount of exploration, appraisal and development opportunities for years to come.

We have a strong position in the three major producing basins in Colombia. As we look to 2019 and beyond, we remain focused on creating long-term shareholder value, which we believe is achieved by focusing on capital efficiency and returns on invested capital. We believe that our focused strategy is delivering results on several fronts and that Gran Tierra is well positioned for an exciting year of growth in 2019 and beyond as we continue to create value in multi-horizon, proven hydrocarbon basins that have access to infrastructure."

For earnings history and earnings-related data on Gran Tierra Energy (GTE) click here.