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GTE Gran Tierra Energy Inc.

480.00
0.00 (0.00%)
Last Updated: 08:00:02
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Gran Tierra Energy Inc. LSE:GTE London Ordinary Share COM STK USD0.001 (CDI)
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 480.00 2,237 08:00:02
Bid Price Offer Price High Price Low Price Open Price
460.00 500.00 482.00 480.00 480.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs USD 636.96M USD -6.29M USD -0.2045 -30.17 147.6M
Last Trade Time Trade Type Trade Size Trade Price Currency
14:17:57 O 116 466.02 GBX

Gran Tierra Energy (GTE) Latest News

Gran Tierra Energy (GTE) Discussions and Chat

Gran Tierra Energy Forums and Chat

Date Time Title Posts
08/11/202400:25Still time to look at Gran Tierra (GTE)15
14/10/201110:03Gas Turbine Efficiency2,834
22/3/201109:12MBO=THEFT OF OUR COMPANY5
28/11/201022:37Any +ve's???-
03/3/200807:49Supercharged efficiency20

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Gran Tierra Energy (GTE) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
14:17:58466.02116540.58O
13:11:01462.0029.24O
12:39:40466.021151.26O
12:11:19466.0229135.15O
11:38:14466.0276354.18O

Gran Tierra Energy (GTE) Top Chat Posts

Top Posts
Posted at 21/11/2024 08:20 by Gran Tierra Energy Daily Update
Gran Tierra Energy Inc. is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker GTE. The last closing price for Gran Tierra Energy was 480p.
Gran Tierra Energy currently has 30,750,334 shares in issue. The market capitalisation of Gran Tierra Energy is £189,729,561.
Gran Tierra Energy has a price to earnings ratio (PE ratio) of -30.17.
This morning GTE shares opened at 480p
Posted at 08/11/2024 00:25 by bobaxe1
Trump will be v good for gte!//
Posted at 05/11/2024 09:35 by jmort99
Tony, thanks for posting the transcript of yesterday's GTE Conference call on the LSE I3E board. Here it is for this board:



The initial part is nothing more than them going over the already released Q3 results, but the Q&A section at the end adds more.

Good to see GTE continuing with share buybacks, something which I3E declined to do, believing their cash could be better utilised through drilling and dividends. Ryan Ellson - "...we’ll continue to buy back stock. So, even if we are in blackout, we can continue to buy. But I think if you look at since 2023, we really have funded that buyback through free cash flow. And so, we expect that to continue in the future. And for us when we’re trading at a discount to PDP, we think it’s a great way to return capital to shareholders and increase long-term net asset value."
Posted at 03/11/2024 12:32 by tonynorstrom1
Just looking in to see what folks think about GTE - I noticed that Cat33 (aka oilman Jim) is still around pumping his paid news letter under a false name - what a Wally!
Posted at 01/11/2024 16:13 by pretax2
Yeah, looking at the shares, but just finished building an income portfolio with I3e profits.
However, the shares look good value and it seems, for now, to have stopped tanking.
I have £20k of trading money (none income), currently in PHPD. I'll be out of this trade in 6 months and will take a peek at GTE then.
In truth I like the Canadian assets and once the dust settles I think GTE will move up.
GLA
Posted at 23/8/2024 22:44 by bobaxe1
Is 13p a fair price for i3e asking for a friend?
Posted at 04/8/2024 13:30 by cat33
Good piece by Jim - GTE is looking good https://oilman.beehiiv.com/p/oilman-jims-letter-august-4-2024Worth a read
Posted at 26/10/2018 06:34 by danieldanj
Key Date Approaching for Gran Tierra’s (GTE) Shareholders
Posted at 09/3/2011 17:25 by p@
Read before you buy!

Proposed recapitalisation
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TIDMGTE

RNS Number : 2567B

Gas Turbine Efficiency PLC

15 February 2011

15 February 2011

Gas Turbine Efficiency PLC

("GTE" or the "Company")

Proposed recapitalisation

Further to the announcement made on 31 December 2010, the Company announces today that it has entered into a non-binding term sheet with the holders of the majority of the outstanding A, B and C loan notes (the "Loan Notes") with regard to a proposed recapitalisation of the Company by the conversion of the Loan Notes into convertible preference shares of GBP1.00 each in the capital of the Company (the "Preference Shares"). As a result, the Loan Notes will no longer become due and repayable on 15 February 2011. The proposal is subject to certain conditions, including the signing of definitive documents and shareholder approval. The effect of the proposal will be that the holders of the Preference Shares will, when added to the ordinary shares that they currently own, initially have a total of approximately 80% of the voting rights in the Company.

Under the proposal, the Loan Notes will be converted at a rate of one Preference Share for each GBP1.00 of the accrued principal and interest outstanding on the Loan Notes. The Preference Shares will initially have a 1.62x liquidation preference so that, on any share sale, business sale disposal (or other return of capital), equity issue (resulting in a change of control), liquidation or winding up of the Company (together an "Exit"), holders of the Preference Shares will receive (in priority to holders of any other class of share) a return of GBP1.62 for every GBP1.00 Preference Share held. If there has been no Exit prior to the date falling six months from their issue, the liquidation preference on each Preference Share will increase to 1.87x on that sixth month date. Thereafter, the liquidation preference will increase by a further 0.31x on the first anniversary, the date falling eighteen months from issue and the two year anniversary of their issue so that, if there has been no Exit within two years of their issue, the Preference Shares will receive (in priority to holders of any other class of share) a return of GBP2.80 for every GBP1.00 Preference Share held. Every six months after the second anniversary of their issue, the liquidation preference on the Preference Shares will increase by a further 0.06x.

On any Exit (within the first 6 months) the holders of the Preference Shares will initially retain approximately the first US$30 million. Shareholders should note that, should such Exit be below this figure, the holders of ordinary shares will receive nothing, with all proceeds going to satisfy the liquidation preference on the Preference Shares.

The Preference Shares will also be convertible into the Company's ordinary shares at any time at the election of the holder of such Preference Shares (in respect of their own shareholding) or at the election of the holders of 70% or more of the Preference Shares (in respect of the entire class of Preference Shares). The conversion price at which Preference Shares will convert into ordinary shares will initially be GBP0.06 per share. This will reduce every six months by GBP0.005, with a floor of GBP0.002 (the par value of the Company's ordinary shares). In addition, holders of Preference Shares will be able to vote each Preference Share on an "as converted" basis. The effect of the proposal will be that the holders of Preference Shares will, when added to the ordinary shares that they currently own, initially have a total of approximately 80% of the voting rights in the Company. As the conversion price falls over time, this percentage will increase.

The Company will also delist from AIM and re-register as a private limited company as part of the proposed recapitalisation. To this end, the Company has requested the London Stock Exchange (subject to shareholder approval) to cancel admission to trading on AIM of its ordinary shares on 22 March 2011.

Further details of the proposed recapitalisation and delisting will be included in a circular to shareholders calling a general meeting to seek approval, amongst other things, of the recapitalisation and to consider a proposal to delist and cancel the admission to trading on AIM of the Company's ordinary shares. It is the Company's intention that, following delisting, a trading facility will be established so as to give people the ability to trade shares; further details of this facility will be included in the circular.

It is anticipated that this circular will be posted to shareholders by the end of February 2011, when definitive documentation has been entered into by the Company and holders of certain of the Loan Notes. It is expected that the general meeting will be held during the week of 14 March 2011. The plan would, subject to shareholder approval, be to delist from the AIM market on 22 March 2011. It is anticipated that the Company would re-register as a private limited company at some time around the week of 11 April 2011. If the proposals are not approved by shareholders, or completion of the recapitalisation does not occur for any other reason, the Loan Notes will become repayable on 15 March 2011. All timings are subject to negotiation with the Company's principal Loan Note holders.

For further details, please refer to the announcement made on 31 December 2010, which can be found on the Company's website at page: tefficiency.com/gte/pages/investors/financialnews/pressreleases?ref=114.
Posted at 31/12/2010 12:33 by ravel morrison
RNS Number : 8055Y

Gas Turbine Efficiency PLC

31 December 2010

31 December, 2010

Gas Turbine Efficiency PLC

Proposed sale of assets of the aviation business

Circular to shareholders Further to the announcement made by GTE on 29 December 2010, a circular to shareholders has today been posted, including a notice of a General Meeting of the Company to be held at the offices of Bird & Bird LLP, 90 Fetter Lane, London EC4A 1PT at 11.00 a.m. on 17 January 2011 for the purpose of considering, and if thought fit, passing resolutions to: (1) approve the sale of assets in the aviation business of the Company; (2) provide the Directors with further authority to allot equity securities up to an aggregate nominal amount of GBP61,224.33; and (3) provide the Directors with authority to issue Ordinary Shares on a non pre-emptive basis to satisfy outstanding C Warrants and to allot equity securities up to an aggregate nominal amount of GBP20,408.11 on a non pre-emptive basis.

It was announced on 29 December 2010 that under the terms of the existing Loan Notes, GTE is required to apply the proceeds from the Asset Sale in repayment of the Loan Notes and that it was in discussions with Loan Note Holders about retaining the proceeds from the Asset Sale. Generation and Zouk have entered into a new commitment to subscribe for the D Loan Notes. The proceeds from the issue of the D Loan Notes will be used to finance the Group's working capital. Accordingly, the Loan Note Holders have agreed that GTE may retain the proceeds of the Asset Sale (subject to repayment of the D Loan Notes) and to certain amendments to the Loan Notes.

The D Loan Notes constitute US$5,750,000 notes of US$10 each; carrying a fixed interest rate of 20% p.a. and a commitment fee of US$750,000 (which is rolled up into the principal amount of the D Loan Notes). The D Loan Notes are repayable on 31 January 2011. However, if the Asset Sale proceeds to Completion, the Company will be required to repay the D Loan Notes within three business days from the receipt of the sale proceeds from the Asset Sale. In the event that the Asset Sale does not proceed to Completion, the Loan Notes and the D Loan Notes will become immediately due and repayable by GTE. GTE would not in such circumstances have sufficient cash resources to repay the Loan Notes or D Loan Notes and would need to seek alternative funding. There can be no guarantee that such funding could be obtained on acceptable terms or at all. If no such funding was obtained then the Company would be required to address insolvency issues which could lead to placing the Company into insolvent liquidation. Furthermore, in the event that the Company does not repay the D Loan Notes on the earlier of three business days from receipt of the Asset Sale proceeds or 31 January 2011 the Company will be required to pay a US$5m default fee to the holders of the D Loan Notes payable pro rata to the number of D Loan Notes held by each Loan Note Holder.

GTE is currently in discussions with the Loan Note Holders regarding a possible recapitalisation of some or all of the Loan Notes into equity. Accordingly, the terms of the Loan Notes have been amended to bring their repayment date forward from 18 December 2012 to 15 February 2011. If, however, GTE and the Noteholders reach an agreement on a proposed recapitalisation of the Loan Notes on or before 15 February 2011, the Loan Notes will not become repayable until 15 March 2011. In the event GTE reaches agreement with the Loan Noteholders on a recapitalisation, GTE will have until 15 March 2011 to effect such recapitalisation (including obtaining necessary Shareholder approval). If GTE cannot reach agreement with the Loan Note Holders by 15 February 2011 the Loan Notes will become immediately due and repayable on 15 February 2011. In the event agreement is reached with the Loan Note Holders by 15 February 2011 and such recapitalisation is not implemented by 15 March 2011, then the Loan Notes will become immediately due and repayable on 15 March 2011. In either case GTE will not have sufficient cash to repay the Loan Notes. In such a case, the Company would have to seek alternative funding. There can be no guarantee that such funding could be obtained on acceptable terms or at all. If no such funding was obtained the Company would be required to address insolvency issues which could lead to placing the Company into insolvent liquidation.

The Loan Notes have also been amended to provide that a waiver consent fee equal to 20% of the principal amount of the Loan Notes will become payable to the Loan Notes Holders if the recapitalisation of the Loan Notes is not effected by 15 March 2010 (in which case such Loan Notes become immediately repayable) or there is a change of control of the Company prior to such recapitalisation being effected. Furthermore, in the event that there is a change of control of the Company prior to effecting a recapitalisation of the Loan Notes then additional interest of 10% p.a. will be payable by GTE on the Loan Notes from 31 December 2010 until such payment is made. The Loan Note Holders have also agreed to defer accrued interest due and payable on the Loan Notes due to be paid on 31 December 2010 until 31 January 2011.

The terms of the Warrants have also been amended. The exercise price of the Warrants currently GBP0.10 per Ordinary Share has been amended so that in the event a recapitalisation of the Loan Notes is not effected (as described above) or there is a change of control of the Company prior to effecting such recapitalisation, the exercise price will be reduced to GBP0.002 per Ordinary Share.

The D Loan Notes and the amendments to the Loan Notes are conditional upon certain conditions being satisfied. The Company will issue a separate announcement confirming when such conditions have been satisfied.

The D Loan Notes entered into with Generation and Zouk constitute a related party transaction under the AIM Rules due to the fact that Generation and the Zouk are each substantial Shareholders. The proposed amendments to the A, B and C Loan Notes also constitute a related party transaction with Generation and Zouk for the same reason.

The Directors consider, having consulted with Matrix (GTE's Nominated Adviser), that the terms of the D Loan Notes are fair and reasonable insofar as the Shareholders are concerned. In coming to their opinion, the Directors have had regard to a number of factors including the current financial position and existing funding of the Group.

The Company has received irrevocable undertakings to vote in favour of the Resolutions from Generation and Zouk, who together hold 31,395,681 Ordinary Shares, representing approximately 30.77% of the Ordinary Shares in issue.

Directors' intentions

The Directors unanimously recommend that Shareholders vote in favour of all of the Resolutions at the General Meeting, as they themselves intend to do in relation to their own entire registered holdings of 442,663 Ordinary Shares representing, in aggregate, 0.43% of the Ordinary Shares in issue.

A copy of the circular is available on the Company's website.

For further information please contact:

Gas Turbine Efficiency plc

John Grant, Executive Chairman Tel: +44 (0) 7768 465042
Posted at 29/12/2010 19:36 by knowing
Growth Kenny

Strategy update

-- Following the sale of the assets of the aviation business, GTE will continue to focus on investments and resources for the development and commercialisation of performance enhancing solutions for gas turbines in the power generation and oil & gas sectors

-- GTE's cost structure will be re-focused on sustainable profitable growth of these core product lines; an extensive cost reduction programme is underway to lower the cost base and eventually generate free cash flow

-- GTE will also continue to build its aftermarket service capability in the repairs and combustion tuning areas, where it has leveraged its technical depth - resulting in two major longer term service agreements with leading power generation companies

-- The outage service team which joined GTE in mid-2009 will leave GTE and return to its previous employer, where the core business focus is on-site labour/outage services as opposed to technology solutions at GTE. In 2010, this team generated approximately US$6.3 million in revenue and US$1.5 million in gross margin. GTE will continue to evaluate the most appropriate mix of aftermarket services and alliances in 2011, consistent with its focus on core growth

-- Effective 4 February 2011, Thomas Wagner, GTE's Chief Technology Officer will be retiring and will be offered the role as technology advisor to GTE's Board of Directors. We would like to thank Tom for his past contributions to the GTE team

-- GTE continues to explore options for new long term investment from existing or appropriate strategic investors, or through strategic partnerships
Gran Tierra Energy share price data is direct from the London Stock Exchange