Extension of Early Termination Date for Crude Oil Purchase Contract Between ECOPETROL S.A. and Gran Tierra Energy Colombia Ltd.
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Summary
ECOPETROL S.A. and Gran Tierra Energy Colombia Ltd. have agreed to extend the early termination date of their crude oil purchase contract (VSM-GPS-030-2011) to January 31, 2012. This extension allows both parties more time to review and analyze key issues in their business relationship. The letter confirms ECOPETROL's intention to continue commercial relations under terms that support viable operations for both companies.
EX-10.55 4 ex10_55.htm EXHIBIT 10.55 ex10_55.htm
EXHIBIT 10.55
Bogota, December 22, 2011
Mr.
DUNCAN NIGHTINGALE
Legal Representativa
GRAN TIERRA ENERGY COLOMBIA LTD.
Calle 11 No. 7-80 Floor 17
Ciudad
| Subject: | Termination in advance of Contract VSM-GPS-030-2011. Buy of crude Chaza, Santana and Guayuyaco. Definition of a new commercial scheme |
Dear Mr. Nightingale:
As expressed in discussions with you, ECOPETROL S A has decided to extend the date for the termination in advance of contract VSM-GPS-030-2011 stipulated in clause twenty-second until January 31, 2012.
The foregoing as a result of the need to have sufficient time to facilitate the review and analysis by the parties of the different issues, which are fundamental in the contractual relations held with Gran Tierra Energy Colombia Ltd.
We appreciate in advance the attention given to this communication and reiterate our wish to maintain the commercial relation for the purchase of crude referred to above under conditions which make the commercial operations viable for ECOPETROL S A.
Sincerely
/s/ Boris Villa
“Boris Villa”
Vice-president Supply and Marketing (Ad-hoc)
