Report on Payments to Govts

RNS Number : 5282Q

Gran Tierra Energy Inc.

28 June 2022

 

Gran Tierra Energy Inc.

Report on payments to governments for the year 2021

Introduction

Gran Tierra Energy Inc. ("Gran Tierra") has prepared the following report that sets out details of the payments made to governments for the year ended 31 December 2021 in accordance with the Reports on Payments to Governments Regulations 2014 (2014/3209) as amended by the Reports on Payments to Governments (Amendment) Regulations 2015 (2015/1928) and The Disclosure and Transparency Rule ("DTR 4.3A") issued by the Financial Conduct Authority.

This report is available for download from: https://www.grantierra.com/investor-relations/uk-regulatory-news#2022

Basis of preparation

The payments disclosed, which are on a cash basis in U.S Dollars, are based on where the obligation for the payment arose (i.e. at a project or corporate level). Where a payment or a series of related payments do not exceed £86,000, they are not required to be disclosed under the UK Regulations, however this has been disclosed in aggregate at a corporate level for clarity over obligations.

All of the payments disclosed in accordance with the Directive have been made to National Governments of Colombia and Ecuador, either directly or through a Ministry or Department of the National Government and to Local Community Councils or municipalities in Colombia.

Taxes

This represents cash tax calculated on the basis of profits including income or capital gains. Income taxes are usually reflected in corporate income tax returns. The cash payment of income taxes occurs in the year in which the tax has arisen or up to one year later. Income taxes also include any cash tax rebates received from the Government or revenue authority during the year and excludes fines and penalties.

Royalties

This represents cash and in-kind royalties paid to Governments during the year for the extraction of oil or gas. The terms of the royalties are described within Gran Tierra's 2021 Annual Report filed on from 10-K.

Fees

This represents supervision, licensing, permits, project assessment fees and other levies or consideration related to Gran Tierra's exploration and production contracts or to the overall management of our business.

Bonuses

This represents social investment program payments to the local communities or municipalities in Colombia.

Disclosure by Payee

Country	Payee Name	Departments, Agency, etc… within Payee that Received Payments	Taxes	Royalties	Fees	Production Entitlements	Bonuses	Dividends	Infrastructure Improvement Payments	Total Amount paid to Payee	Notes
Colombia	GOVERNMENT OF COLOMBIA	DIRECTORATE OF NATIONAL TAXES AND CUSTOMS OF COLOMBIA	37,503,343	-	-	-	-	-	-	37,503,343	Paid in Colombian Pesos. Translated at the 2021 average foreign exchange rate of 3,743:1 USD
Colombia	DISTRICT OF BOGOTA		309,496	-	-	-	-	-	-	309,496	Paid in Colombian Pesos. Translated at the 2021 average foreign exchange rate of 3,743:1 USD
Colombia	MUNICIPALITY OF VILLAGARZON		291,000	-	-	-	-	-	-	291,000	Paid in Colombian Pesos. Translated at the 2021 average foreign exchange rate of 3,743:1 USD
Colombia	MUNICIPALITY OF MOCOA		257,473	-	-	-	-	-	-	257,473	Paid in Colombian Pesos. Translated at the 2021 average foreign exchange rate of 3,743:1 USD
Colombia	MUNICIPALITY OF PUERTO ASIS		146,772	-	-	-	-	-	-	146,772	Paid in Colombian Pesos. Translated at the 2021 average foreign exchange rate of 3,743:1 USD
Colombia	MUNICIPALITY OF RIO DE ORO		101,942	-	-	-	-	-	-	101,942	Paid in Colombian Pesos. Translated at the 2021 average foreign exchange rate of 3,743:1 USD
Colombia	NATIONAL GOVERNMENT OF COLOMBIA	NATIONAL HYDROCARBON AGENCY OF COLOMBIA	-	106,133,855	-	-	-	-	-	106,133,855	Paid in Colombian Pesos. Translated at the 2021 average foreign exchange rate of 3,743:1 USD
Colombia	NATIONAL GOVERNMENT OF COLOMBIA		-	-	1,151,218	-	-	-	-	1,151,218	Paid in Colombian Pesos. Translated at the 2021 average foreign exchange rate of 3,743:1 USD
Colombia	PUERTO LIMON COMMUNITY COUNCIL		-	-	-	-	100,460	-	-	100,460	Paid in Colombian Pesos. Translated at the 2021 average foreign exchange rate of 3,743:1 USD
Colombia	MUNICIPALITY OF SAN MARTIN		-	-	-	-	130,537	-	-	130,537	Paid in Colombian Pesos. Translated at the 2021 average foreign exchange rate of 3,743:1 USD
Ecuador	GOVERNMENT OF ECUADOR	MINISTRY OF ENERGY AND NON-RENEWABLE NATURAL RESOURCES OF ECUADOR	-	-	236,500	-	-	-	-	236,500	Paid in USD
Ecuador	GOVERNMENT OF ECUADOR	THE INSTITUTE FOR THE PROMOTION OF HUMAN TALENT	-	-	300,000	-	-	-	-	300,000	Paid in USD
United States of America	STATE OF DELAWARE	DELAWARE SECRETARY OF STATE	253,004	-	-	-	-	-	-	253,004	Paid in USD

Disclosure by Project

Country	Project Name	Taxes	Royalties	Fees	Production Entitlements	Bonuses	Dividends	Infrastructure Improvement Payments	Total Amount paid by Project	Notes
Colombia	ENTITY WIDE	38,610,026	-	296,282	-		-	-	38,906,308	Paid in Colombian Pesos. Translated at the 2021 average foreign exchange rate of 3,743:1 USD
Colombia	MIDDLE MAGDALENA BASIN	-	66,119,531	313.963	-	130,537	-	-	66,564,031	Paid in Colombian Pesos. Translated at the 2021 average foreign exchange rate of 3,743:1 USD. In kind contributions calculated based on commodity volumes remitted multiplied by monthly realized prices the company receives on arm's length transactions.
Colombia	PUTUMAYO BASIN	-	39,042,333	443,915	-	100,460	-	-	39,586,708	Paid in Colombian Pesos. Translated at the 2021 average foreign exchange rate of 3,743:1 USD. In kind contributions calculated based on commodity volumes remitted multiplied by monthly realized prices the company receives on arm's length transactions.
Colombia	LLANOS BASIN	-	971,991	39,864	-	-	-	-	1,011,855	Paid in Colombian Pesos. Translated at the 2021 average foreign exchange rate of 3,743:1 USD. In kind contributions calculated based on commodity volumes remitted multiplied by monthly realized prices the company receives on arm's length transactions.
Colombia	SINU BASIN	-	-	46,094	-	-	-	-	46,094	Paid in Colombian Pesos. Translated at the 2021 average foreign exchange rate of 3,743:1 USD
Colombia	CATATUMBO BASIN	-	-	11,100	-	-	-	-	11,100	Paid in Colombian Pesos. Translated at the 2021 average foreign exchange rate of 3,743:1 USD
Ecuador	ORIENTE BASIN	-	-	536,500	-	-	-	-	536,500	Paid in USD
United States of America	ENTITY WIDE	253,004	-	-	-	-	-	-	253,004	Paid in USD

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