07:31 AM EDT, 08/05/2025 (MT Newswires) -- Gran Tierra Energy ( GTE ) on Tuesday said it acquired the Perico and Espejo blocks in Ecuador's Oriente Basin for US$15.6 million.

Gran Tierra indirect subsidiaries Gran Tierra Energy Ecuador 1 and Gran Tierra Energy Ecuador 2 agreed to buy the assets and associated consortiums from GeoPark Ecuador and Frontera Energy Colombia Sucursal Ecuador.

The Perico block is directly adjacent to Gran Tierra's Iguana block while the Espejo block presents an opportunity for the company to enhance the value of its existing reserves, Gran Tierra said.

"The company has successfully discovered a critical threshold of reserves in northern Ecuador that support future development," said Gary Guidry, president and CEO of Gran Tierra.

The closing of the deal is expected no earlier than the fourth quarter.