Noteworthy SEC Filing: Gran Tierra Energy Inc: Greg Boland’s West Face Capital Inc Opened Big New Position

Noteworthy SEC Filing: Gran Tierra Energy Inc: Greg Boland's West Face Capital Inc Opened Big New Position

The New Greg Boland’s West Face Capital Inc Holding in Gran Tierra Energy Inc

West Face Capital Inc filed with the SEC SC 13D/A form for Gran Tierra Energy Inc. The form can be accessed here: 000090514816001959. As reported in Greg Boland’s West Face Capital Inc’s form, the filler as of late owns 4.97% or 17,378,764 shares of the Energy–company.

Gran Tierra Energy Inc stake is a new one for the for the hedge fund and it was filed because of activity on October 6, 2016. We feel this shows Greg Boland’s West Face Capital Inc’s positive view for the stock.

The hedge fund is active investor in the Energy sector. In the manager’s last 13-F, we saw 9% of Greg Boland’s West Face Capital Inc’s US equities portfolio is in this sector.

Reasons Why Greg Boland’s West Face Capital Inc Bought – Gran Tierra Energy Inc Stock

Purpose of Transaction

Item 4 of the Schedule 13D is hereby amended and supplemented as follows:


On April 1, 2016, the Reporting Persons acquired $8,000,000 of the Company’s 5.00% Convertible Senior Notes due 2021 (the “Notes”). The Notes are convertible at the holder’s option at any time prior to the close of business on the business day immediately preceding the

April 1, 2021

maturity date. Upon conversion, the Company will deliver for each $1,000 principal amount of converted Notes a number of Shares at a conversion rate initially set at 311.4295 Shares per $1,000 principal amount of Notes (equivalent to an initial conversion price of approximately $3.21 per Share). Additional information on the Notes is available in the Indenture dated as of April 6, 2016, filed as Exhibit 4.1 to the current report on Form 8-K filed by the Company on April 6, 2016, which is incorporated herein by reference.


On July 8, 2016, the Company issued 57,835,134 subscription receipts (the “Receipts”), in a private placement, at a price of $3.00 per Receipt, to certain directors and executive officers of the Company and certain institutional investors. In connection with this private placement of Receipts, the Reporting Persons acquired 2,900,000 Receipts. Each Receipt provides the holder the right to receive one Share upon satisfaction of the Escrow Release Condition (defined in the current report on Form 8-K filed by the Company on July 14, 2016) on or before 5:00 p.m. (Toronto time) on October 31, 2016. On August 23, 2016, the Escrow Release Condition was satisfied and the Reporting Persons received 2,900,000 Shares in exchange for its Receipts. Additional information on the Receipts is available in the Subscription Receipt Agreement dated as of July 8, 2016, filed as Exhibit 4.1 to the current report on Form 8-K filed by the Company on July 14, 2016, which is incorporated herein by reference.


In connection with the private placement of the Receipts, the Company agreed to enter into registration rights agreements with each of the Receipt subscribers. The form of this registration rights agreement is filed as Exhibit 4.2 to the current report on Form 8-K filed by the Company on July 14, 2016, and is incorporated herein by reference.


SCHEDULE 13D

Page 5 of 7 Pages

Business Profile

Gran Tierra Energy Inc. is an energy company engaged in oil and gas acquisition, exploration, development and production. The Company focuses on onshore oil and gas properties in Colombia, and also own rights to oil and gas properties in Brazil and Peru. Its segments are Colombia, Peru and Brazil based on geographic organization. It operates principally in the Putumayo Basin in Colombia, and has properties in other basins, including the Catatumbo, Cauca, Llanos, Sinu-San Jacinto, Middle Magdalena and Lower Magdalena Basins. It has interests in over 30 blocks in Colombia and it is the operator on over 20 of these blocks. Its blocks and fields include Chaza-Costayaco and Moqueta Fields, Guayuyaco-Guayuyaco and Juanambu Fields, Garibay-Jilguero Field and over 11 Other Blocks. Blocks REC-T-129, REC-T-142, REC-T-155 and REC-T-224 are located over 70 kilometers northeast of Salvador, Brazil in the Reconcavo Basin. Its blocks in Peru include Block 123, Block 129, Block 107 and Block 133.

SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.

Analysts await Gran Tierra Energy Inc. (NYSEMKT:GTE) to report earnings on November, 1.

The stock decreased 0.64% or $0.02 on October 11, hitting $3.12. About 1.08M shares traded hands. Gran Tierra Energy Inc. (NYSEMKT:GTE) has risen 12.14% since March 8, 2016 and is uptrending. It has outperformed by 2.83% the S&P500.

Gran Tierra Energy Inc. is an energy firm engaged in gas and oil acquisition, exploration, development and production. The company has a market cap of $923.27 million. The Firm focuses on onshore gas and oil properties in Colombia, and also own rights to gas and oil properties in Brazil and Peru. It currently has negative earnings. The Company’s divisions are Colombia, Peru and Brazil based on geographic organization.

Gran Tierra Energy Inc. (NYSEMKT:GTE) Ratings Coverage

Out of 5 analysts covering Gran Tierra Energy (NYSEMKT:GTE), 1 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 20% are positive. $6 is the highest target while $2 is the lowest. The $3.81 average target is 22.12% above today’s ($3.12) stock price. Gran Tierra Energy has been the topic of 7 analyst reports since September 9, 2015 according to StockzIntelligence Inc. RBC Capital Markets upgraded the shares of GTE in a report on Monday, June 20 to “Top Pick” rating. The stock of Gran Tierra Energy Inc. (NYSEMKT:GTE) has “Neutral” rating given on Monday, December 14 by Citigroup. RBC Capital Markets maintained Gran Tierra Energy Inc. (NYSEMKT:GTE) rating on Friday, January 29. RBC Capital Markets has “Outperform” rating and $4.50 price target. The rating was upgraded by Goldman Sachs to “Neutral” on Friday, September 11.

More notable recent Gran Tierra Energy Inc. (NYSEMKT:GTE) news were published by: Marketwatch.com which released: “Gran Tierra Energy Inc. Announces Colombian Peso Hedging Program” on June 08, 2016, also Marketwired.com with their article: “Gran Tierra Energy Inc. Provides Operational and Exploration Program Updates” published on September 14, 2016, Finance.Yahoo.com published: “Gran Tierra Energy Inc. Announces Closing of PetroLatina Energy Ltd. Acquisition” on August 23, 2016. More interesting news about Gran Tierra Energy Inc. (NYSEMKT:GTE) were released by: Marketwatch.com and their article: “Gran Tierra Energy Inc. and Petroamerica Oil Corp. Announce Closing of …” published on January 13, 2016 as well as Marketwatch.com‘s news article titled: “Gran Tierra Energy Inc. Announces Increase in 2016 Exploration Capital Budget …” with publication date: June 01, 2016.

According to Zacks Investment Research, “Gran Tierra Energy Inc. is an international oil and gas exploration and production company, headquartered in Calgary, Canada, incorporated and traded in the United States and operating in South America. Gran Tierra Energy holds interests in producing and prospective properties in Argentina, Colombia and Peru. The company strategy is focused on establishing a portfolio of drilling opportunities to exploit undeveloped reserves to grow production, as well as undertaking exploration to grow future reserves.”

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