Exhibit 10.1


 


Free English translation
of Spanish language document


 


		
        GUNVOR COLOMBIA SAS

        Avenida 82 No. 12-18, Oficina 401 Bogotá,
        Colombia

        Phone +57-1 - 6227978 / 6364768



 


Dated on the 25th of November
of 2014


 


ADDENDUM NO. 3 TO THE COSTAYACO CRUDE
OIL SALE AND PURCHASE AGREEMENT


 


This Addendum (hereinafter the “Addendum”)
to the Agreement (as defined below) is entered into on the 25th of November of 2014 by and between GRAN TIERRA ENERGY
COLOMBIA LTD, a limited liability company organized under the laws of the State of Utah, acting through its duly registered branch
office (hereinafter the “VENDOR”), jointly represented by Adrian Coral Pantoja, identified with Colombian I. D. No.
79.301.050 and Alejandra Escobar Herrera, identified with Colombian I. D. No. 52.646.943, duly authorized to enter into this Addendum
according to the Certificate of Existence and Incumbency issued by the Chamber of Commerce attached hereto, and GUNVOR COLOMBIA
CI SAS, a company organized under the laws of the Republic of Colombia (hereinafter the “BUYER”), represented by Jaime
Alejandro Hoyos Juliao, identified with Colombian I. D. No. 80.082.474, duly authorized to enter into this Addendum according to
the written vote dated on the 30th of November of 2012 of the sole partner of Gunvor SAS, attached hereto. The SELLER
and the BUYER will be individually called the “PARTY”, and collectively “PARTIES.


 


WITNESSETH:


 


		1.	WHEREAS on the third day (3rd) of December of 2012 the PARTIES entered into a
crude oil sale and purchase agreement (hereinafter the “Agreement”).



 


		2.	WHEREAS on the twenty second day of November of year 2013 the PARTIES signed a addendum
(Addendum No. 1) to extend the term of the Contract for one (1) further year, as from the expiration of the term initially agreed.



 


		3.	WHEREAS on the seventh (7th) of October of 2014 the PARTIES, signed a addendum
(Addendum No. No. 2) amending Clause 5 of the Contract.





 




    	 



    	 



    

 


ADDENDUM NO. 3 TO THE COSTAYACO CRUDE
OIL SALE AND PURCHASE AGREEMENT


 


		4.	WHEREAS the PARTIES are interested in extending the term
of the Agreement for an additional term of one (1) year, as from the expiration of the term agreed.



 


THEREFORE, in consideration to the
premises and mutual representations, warranties, covenants, agreements and commitments established in this Addendum or referred
to in it, the PARTIES agree to amend this Agreement as follows:


 


CLAUSES


 


FIRST. The PARTIES agree to renew
the term of the agreement for one further year, fully amending the Second Clause of the Agreement, which shall read as follows:



 


“2. TERM


 


The term of this Agreement
will be of three (3) years as from the third (3rd) of December of year two thousand and twelve (2.012). The PARTIES
may renew the term of the agreement for a further year, executing an addendum at any time before the expiration of the initial
term.”


 


SECOND. With the exception of the
agreements of this document, all other clauses of the Agreement will remain in force in the same terms in which they are currently
agreed.


 


In witness whereof the PARTIES sign this
document in Bogotá D. C., on the 25th of November of 2014, in two (2) identical counterparts destined to each
one of the PARTIES.


 


THE SELLER: GRAN TIERRA ENERGY COLOMBIA LTD


 


	/s/ Adrian Coral Pantoja	/s/ Alejandra Escobar Herrera
	Adrian Coral Pantoja 	Alejandra Escobar Herrera
	Legal Representative	Alternate Legal Representative


 


	THE BUYER: GUNVOR COLOMBIA SAS	 
	 	 
	/s/ Jaime Alejandro Hoyos Juliao	 
	Jaime Alejandro Hoyos Juliao	 
	Legal Representative	 


 




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