GRAN TIERRA ENERGY INC. — Director's Dealing 2021

Apr 30, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAN TIERRA ENERGY INC. (GTE)
CIK: 0001273441
Period of Report: 2021-04-28

Reporting Person: GMT CAPITAL CORP (10% Owner)
Reporting Person: BAY RESOURCE PARTNERS LP (10% Owner)
Reporting Person: BAY II RESOURCE PARTNERS LP (10% Owner)
Reporting Person: BAY RESOURCE PARTNERS OFFSHORE MASTER FUND, L.P. (10% Owner)
Reporting Person: CLAUGUS THOMAS E (10% Owner)
Reporting Person: GMT Exploration Co LLC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-04-28	COMMON STOCK	S	108000	$0.69	Disposed	40881809	Direct

Footnotes

F1: This Form 4 is being jointly filed by Bay Resource Partners, L.P. (Bay), a Delaware limited partnership, Bay II Resource Partners, L.P. (Bay II), a Delaware limited partnership, Bay Resource Partners Offshore Master Fund, L.P. (Bay Offshore), an exempted limited partnership organized under the laws of the Cayman Islands, GMT Exploration Company LLC (GMT Exploration), a Delaware limited liability company, GMT Capital Corp., a Georgia corporation (GMT Capital), and Thomas E. Claugus (Claugus), a United States citizen. The foregoing persons are hereinafter sometimes collectively referred to as the Reporting Persons.

F2: GMT Capital is the general partner of Bay and Bay II and has the power to direct the affairs of Bay and Bay II, including voting and disposition of shares. As the discretionary investment manager of Bay Offshore, GMT Capital has power to direct voting and disposition of shares held by Bay Offshore. Claugus is the President of GMT Capital and in that capacity, directs the operations of each of Bay and Bay II and voting and disposition of shares held by Bay Offshore. GMT Capital is also the non-discretionary manager of GMT Exploration through a separately managed account relationship. In addition, Claugus owns a controlling interest in GMT Exploration. GMT Capital and Claugus may be deemed to beneficially own indirect pecuniary interest as the result of performance-based fees and profit allocations. Each of GMT Capital and Claugus disclaims such beneficial ownership except to the extent ultimately realized.

F3: The aggregate number of shares of common stock sold on April 28, 2021, was 108,000 shares, at a price of $0.69 per share, resulting in an aggregate number of shares owned by the Reporting Persons of 40,881,809. Such shares were sold, and thereafter beneficially owned by the Reporting Persons in the following amounts: Bay = 32,300 shares sold resulting in ownership of 11,803,690 shares; Bay II = 25,900 shares sold resulting in ownership of 9,575,630 shares; Offshore Fund = 45,500 shares sold resulting in ownership of 16,752,389 shares; GMT Capital = 0 shares sold resulting in ownership of 147,000 shares; Claugus =4,300 shares sold resulting in ownership of 1,576,200 shares; GMT Exploration = 0 shares sold resulting in ownership of 1,026,900 shares.