Document:

Exhibit
10.9

    EXECUTION
VERSION

    DEPOSIT
ACCOUNT CONTROL AGREEMENT

     

    Deposit Account Control
Agreement, dated as of August 24, 2009 (as amended, restated,
supplemented or otherwise modified from time to time, the “Agreement”), by and
among Standard Bank Plc,
in its capacity as administrative agent under the Credit Agreement (as defined
in the Pledge Agreement referred to below) (“Secured Party”);
Solana Petroleum Exploration
(Colombia) Limited (“Debtor”); and BNP Paribas (“Bank”).

     

    PREAMBLE:

     

    
      	
              3.

            	
              Bank
      has established deposit account number 200-615151-001-97-USD in the name
      of Debtor (such account, together with any other demand, time, savings,
      passbook or similar account established in replacement thereof or now or
      hereafter maintained by the Debtor with the Bank, being collectively
      referred to as the “Account”).

            

    

     

    
      	
              4.

            	
              Debtor
      (a) is a party to that certain Collection Account Pledge Agreement, dated
      as of August 24, 2009 (as amended, modified and supplemented from time to
      time, the “Pledge
      Agreement”), by Debtor in favor of the Secured Party, and (b)
      pursuant to the Pledge Agreement, Debtor has granted a security interest
      in its assets including, without limitation, the Account and any funds and
      remittances to the Account including checks, ACH transfers, wires,
      deposits and any other proceeds deposited in the Account (the “Funds”) to
      secure the obligations referenced in such Pledge
  Agreement.

            

    

    

    4.
Secured Party, Debtor and Bank are entering into this Agreement to perfect the
security interest of Secured Party in the Account.

     

    TERMS:

     

    Section 1. The
Account.  All parties agree that the Account is a “deposit
account” within the meaning of Article 9 of the Uniform Commercial Code of the
State of New York (as amended from time to time, the “UCC”). Bank has not
and will not agree with any third party to comply with instructions or other
directions concerning the Account or the disposition of funds in the Account
originated by such third party without the prior written consent of Secured
Party and Debtor. The Bank shall not change the name or account number of the
Account without the prior written consent of Secured Party.

     

    Section 2. Subordination of Security
Interest.  Bank hereby subordinates all security interests,
encumbrances, claims and rights of setoff it may have, now or in the future,
against the Account or any funds in the Account, other than in connection with
(i) the payment of Bank’s (or its affiliate’s) fees, charges and expenses
pursuant to its agreement with Debtor relating to the Account, or pursuant to
this Agreement or otherwise related to the Account or transactions therein, (ii)
reversals of provisional credits, returned or chargeback items, reversals or
cancellations of payment orders and other electronic funds transfers and other
corrections or adjustments to the Account and transactions therein and (iii)
overdrafts on the Account.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    Section 3. Control. Bank may
(but is not required to) comply with instructions directing the disposition of
funds in the Account originated by Debtor or its authorized representatives
until such time as Secured Party delivers a written notice to Bank that Secured
Party is thereby exercising exclusive control over the Account. Such notice is
referred to herein as the “Notice of Exclusive Control” and shall be in the form
of Exhibit A hereto.  After Bank receives a Notice of Exclusive
Control, it will cease complying with instructions concerning the Account or
funds on deposit therein originated by Debtor or its representatives and shall
thereafter comply with instructions originated by Secured Party directing
disposition of the funds in the Account without further consent by Debtor or any
other person.

     

    Section 4. Statements, Confirmations
and Notices of Adverse Claims. Bank will (a) send copies of all
statements concerning the Account to each of Debtor and Secured Party at their
respective addresses referred to in Section 13 of this Agreement and (b) provide
promptly to Secured Party upon request, the Account balance. Upon receipt of
written notice of any lien, encumbrance or adverse claim against the Account or
any Funds credited thereto, Bank will make reasonable efforts to notify Secured
Party thereof. Debtor agrees to promptly review account statements for the
Account and to notify Bank of any errors or improper charges to the Account
within 30 days of the receipt of the end of month statement.

     

    Section 5. Limited Responsibility of
Bank.  Except for acting on Debtor’s instructions in violation
of Section 3 above following delivery of a Notice of Exclusive Control, Bank
shall have no responsibility or liability to Secured Party for complying with
instructions concerning the Account from Debtor or Debtor’s authorized
representatives which are received by Bank before Bank receives a Notice of
Exclusive Control and has had reasonable opportunity (not to exceed two business
days) to act on it, provided that (a) all
transactions involving or resulting in a transaction involving the Account
commenced by Debtor prior to the end of the second business day after Bank
receives such Notice (the “Effective Time”) and
completed or processed thereafter shall not be deemed a violation of this
Agreement and (b) Bank (at its discretion and without any obligation to do so)
may cease honoring Debtor’s instructions regarding the Account and/or honor
Secured Party’s instructions concerning the Account at any time or from time to
time after it becomes aware that Secured Party has sent to it a Notice of
Exclusive Control but prior to the Effective Time (including without limitation,
halting, reversing or redirecting any transaction referred to in clause (a)
hereof), with no liability whatsoever to the Debtor or to any other party for
doing so.  Notwithstanding anything to the contrary in this Agreement:
(a) Bank shall have only the duties and responsibilities with respect to the
matters set forth herein as is expressly set forth in writing herein and shall
not be deemed to be an agent, bailee or fiduciary or any party hereto; (b) Bank
shall be fully protected in acting or refraining from acting in good faith
without investigation of any notice (including without limitation a Notice of
Exclusive Control), instruction or request purportedly furnished to it by Debtor
or Secured Party in accordance with the terms hereof, in which case the parties
hereto agree that Bank has no duty to make further inquiry whatsoever and even
if the Debtor notifies Bank that Secured Party is not legally entitled to
originate any such notice (including a Notice of Exclusive Control), instruction
or request; (c) it is hereby acknowledged and agreed that Bank has no knowledge
of (and is not required to know) the terms and provisions of the Pledge
Agreement referred to above or any other related documentation or whether any
actions by Secured Party (including without limitation the sending of a Notice
of Exclusive Control), Debtor or any other person or entity are permitted or a
breach thereunder or consistent or inconsistent therewith, (d) Bank shall not be
liable to any party hereto or to any other person for any action or failure to
act under in connection with this Agreement except to the extent such conduct
constitutes its own willful misconduct or gross negligence as finally determined
by a court of competent jurisdiction (and to the maximum extent permitted by
law, shall under no circumstances be liable for an incidental, indirect,
special, consequential or punitive damages) and (e) Bank shall not be liable for
losses or delays caused by force majeure, interruption or malfunction of
computer, transmission or communications facilities, labor difficulties, court
order or decree, the commencement of bankruptcy or other similar proceedings or
other matters beyond Bank’s reasonable control.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    Section 6. Indemnification of Bank.
Debtor and, following the delivery of a Notice of Exclusive Control by
Secured Party or in respect of any notice or direction by Secured Party, Secured
Party hereby agree to indemnify and hold harmless Bank, its directors, officers,
agents and employees against any and all claims, causes of action, liabilities,
lawsuits, demands and damages, including without limitation, any and all court
costs and reasonable attorney’s fees, in any way related to or arising out of or
in connection with this Agreement or any action taken or not taken pursuant
hereto, except to the extent caused by Bank’s gross negligence or willful
misconduct as finally determined by a court of competent
jurisdiction.

     

    Section 7. Customer
Agreement.  In the event of a conflict between this Agreement
and any other agreement between the Bank and the Debtor, the terms of this
Agreement will prevail; provided, however, that this
Agreement shall not alter or affect any mandatory arbitration provision
currently in effect between Bank and Debtor pursuant to a separate
agreement.

     

    Section 8.
Termination.  This Agreement shall continue in effect until
Secured Party has notified Bank in writing that this Agreement, or its security
interest in the Account and the Funds therein, is terminated (a “Termination Notice”).
Upon receipt of a Termination Notice, the Bank’s obligations hereunder with
respect to the operation and maintenance of the Account after the receipt of
such notice shall terminate, Secured Party shall have no further right to
originate instructions concerning the Account and any previous Notice of
Exclusive Control delivered by Secured Party shall be deemed to be of no further
force and effect.  Additionally, Bank may terminate this Agreement, as
specified in Section 13 below, after providing (a) thirty (30) days notice to
Secured Party and Debtor or (b) five (5) days notice if either (i) Secured Party
or Debtor breaches any of their respective obligations under this Agreement or
(ii) Debtor breaches of its obligations under its agreement with Bank relating
to the Account.

     

    Section 9. Complete
Agreement.  This Agreement and the instructions and notices
required or permitted to be executed and delivered hereunder set forth the
entire agreement of the parties with respect to the subject matter hereof, and,
subject to Section 7 above, supersede any prior agreement and contemporaneous
oral agreements of the parties concerning its subject matter.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

      Section 10.
Amendments.  No amendment, modification or (except as otherwise
specified in Section 8 above) termination of this Agreement, nor any assignment
of any rights hereunder (except to the extent contemplated under Section 12
below), shall be binding on any party hereto unless it is in writing and is
signed by each of the parties hereto, and any attempt to so amend, modify,
terminate or assign except pursuant to such a writing shall be null and
void.  No waiver of any rights hereunder shall be binding on any party
hereto unless such waiver is in writing and signed by the party against whom
enforcement is sought.

       

      Section 11.
Severability.  If any term or provision set forth in this
Agreement shall be invalid or unenforceable, the remainder of this Agreement,
other than those provisions held invalid or unenforceable, shall be construed in
all respects as if such invalid or unenforceable term or provision were
omitted.

       

      Section 12.
Successors.  The terms of this Agreement shall be binding upon,
and shall inure to the benefit of, the parties hereto and their respective
corporate successors or heirs and personal representatives.  This
Agreement may be assigned by Secured Party to any successor of Secured Party
under the Pledge Agreement with Debtor, provided that written
notice thereof is given by Secured Party to Bank.

       

      Section 13.
Notices.  Except as otherwise expressly provided herein, any
notice, order, instruction, request or other communication required or permitted
to be given under this Agreement shall be in writing and deemed to have been
properly given when delivered in person, or when sent by telecopy or other
electronic means and electronic confirmation of error-free receipt is received
or upon receipt of notice sent by certified or registered United States mail,
return receipt requested, postage prepaid, addressed to the party at the
“Address for Notices” specified below the name of such party on the signature
pages hereof.  Any party may change its address for notices in the
manner set forth above.

       

      Section 14. Other
Claims.  Bank does not know of any claim to or interest in the
Account, except for claims and interests of the parties referred to in this
Agreement.

       

      Section 15.
Counterparts.  This Agreement may be executed in any number of
counterparts, all of which shall constitute one and the same instrument, and any
party hereto may execute this Agreement by signing and delivering one or more
counterparts.

       

      Section 16. Choice of Law; Waiver of
Jury Trial.  This Agreement shall be governed by and construed
in accordance with the law of the State of New York.  The parties
agree that New York is the “bank’s jurisdiction” for purposes of the UCC. Each
of the parties hereto waives trial by jury in any action, proceeding or
counterclaim arising under or in connection with this Agreement.

       

      Section 17. Submission to
Jurisdiction.  Each party to this Agreement submits for itself
and its property in any legal action or proceeding relating to this Agreement to
the non-exclusive general jurisdiction of the courts of the State of New York,
the courts of the United States of America for the Southern District of New
York, and appellate courts from any thereof.  Each party consents that
any such action or proceeding may be brought in such courts and waives any
objection that it may now or hereafter have to the venue of any such action or
proceeding in any such court or that such action or proceeding was brought in an
inconvenient court and agrees not to plead or claim the
same.

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

       

      
        
          
            
              
                
                  
                    	
                            STANDARD
      BANK PLC

                          
	 
      	 
      
	
                            As
      secured party

                          
	 
      	 
      
	
                            By:  

                          	
                            /s/
      Martin Revoredo

                          
	 
	
                            Name: 
      Martin Revoredo

                          
	
                            Title:   
      Director

                          
	 
      	 
      
	
                            By:  

                          	
                            /s/
      Roderick L. Fraser

                          
	 
      	 
      
	
                            Name:  Roderick
      L. Fraser

                          
	
                            Title:   
      Global Head of Oil & Gas, Renewables

                          
	 
      	 
      
	
                            Address
      for Notices:

                          
	 
      	 
      
	
                            Standard
      Bank Plc

                          
	
                            c/o
      Standard Americas, Inc.

                          
	
                            Business
      Analytics & Transaction Management Group

                          
	
                            320
      Park Avenue, 19th Floor

                          
	
                            New
      York, NY 10022

                          
	
                            United
      States of America

                          
	 
      
	
                            Attention:
      Maria Ivulic

                          
	
                            Tel:
      +1 (212) 407 5164

                          
	
                            Fax:
      +1 (212) 407 5178

                          
	
                            Email:
      maria.ivulic@standardnewyork.com

                          
	 
      
	
                            With
      a copy to:

                          
	 
      
	
                            1211
      Avenue of the Americas

                          
	
                            New
      York, NY 10036

                          
	
                            United
      States of America

                          
	
                            Attention:  Jose
      Estanislao

                          
	
                            Tel:
      +1 (212) 407 5064

                          
	
                            Fax:
      +1 (212) 407 5178

                          
	
                            Email: jose.estanislao@standardny.com

                          

                  

                

              

            

          

        

      

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    	
                                                            SOLANA
      PETROLEUM EXPLORATION

                                                            (COLOMBIA)
      LIMITED

                                                          
	 
	
                                                            As
      debtor

                                                          
	 	 
	
                                                            By:  

                                                          	
                                                            /s/ Martin Eden

                                                          
	
                                                            Name:
      Martin Eden

                                                          
	
                                                            Title:
      Director and
Treasurer

                                                          

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                        

                          
                            
                              	
                                      Address
      for Notices:

                                    
	 
      
	
                                      c/o
      Gran Tierra Energy Inc.

                                    
	
                                      300,
      611 10th Avenue SW

                                    
	
                                      Calgary,
      Alberta

                                    
	
                                      Canada
      T2R 0B2

                                    
	
                                      Attention:

                                    	
                                      Chief
      Financial Officer

                                    
	
                                      Tel:

                                    	
                                      (403)
      265 3221

                                    
	
                                      Fax:

                                    	
                                      (403)
      265 3242

                                    
	
                                      Email:

                                    	
                                      martineden@grantierra.com

                                    

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

       

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

       

      
        
          
            
              
                
                  
                    
                      	
                              BNP
      PARIBAS,

                            
	 
      	 
      
	
                              As
      Bank

                            
	 
      	 
      
	
                              By: 

                            	
                              /s/ Edward Pak

                            
	
                              Name:
      Edward Pak

                            
	
                              Title:  
      Vice President

                            
	 
      	 
      
	
                              By: 

                            	
                              /s/ Juan Carlos Sandova

                            
	
                              Name:
      Juan Carlos Sandova

                            
	
                              Title:  
      Vice President

                            
	 
      
	
                              Address
      for Notices:

                            
	 
      
	
                              BNP
      Paribas

                            
	
                              787
      7th
      Avenue

                            
	
                              New
      York, New York 10019

                            
	
                              Attention:  Anna
      Seghini

                            
	
                              Tel:
      +1 (212) 841-2042

                            
	
                              Fax:
      +1 (212) 841-2537

                            
	
                              Email:
      anna.seghini@americas.bnpparibas.com

                            

                    

                  

                

              

            

          

        

      

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

       

      EXHIBIT
A

       

      NOTICE OF
EXCLUSIVE CONTROL

       

      [Date]

       

      BNP
Paribas 787 7th Avenue
New York, New York 10019

       

      Re:
Deposit Account Control Agreement (the “Agreement”) by and
among BNP Paribas, as Bank,
Standard Bank Plc, as Secured Party, and Solana Petroleum Exploration (Colombia)
Limited,
as Debtor.

       

      Ladies
and Gentlemen:

       

      This
constitutes a Notice of Exclusive Control as referred to in Section 3 of the
Agreement.

       

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      
                                                        
                                                          	
                                                                  STANDARD
      BANK PLC, as Secured
      Party

                                                                
	 
      	 
      
	
                                                                  By:

                                                                	 
      
	
                                                                  ____

                                                                	

                                                                  Name:

                                                                
	 
      	 
      
	
                                                                  Title:

                                                                
	 	 
	 	 
	
                                                                  By:

                                                                	 
      
	
                                                                  ____

                                                                	

                                                                  Name:

                                                                
	 
      	 
      
	
                                                                  Title:

                                                                
	 

                                                        

                                                      

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

      
        
           

        

        
          8Exhibit
10.10

        

        EXECUTION
VERSION

         

        August
24, 2009

        Standard
Bank Plc

        c/o
Standard

        Americas,
Inc. 320

        Park
Avenue, 19th

        Floor New
York,

        NY
10022

         

        Re: Pledge
Agreements

        Ladies
and Gentlemen:

         

        1.
Reference is made to that certain Amended and Restated Credit Agreement, dated
as of the date hereof (as amended, amended and restated, supplemented or
otherwise modified from time to time, the “Amended and Restated Credit
Agreement”; capitalized terms used but not defined herein have the
meanings assigned to such terms therein), made by and among (1) Gran Tierra
Energy Cayman Islands Inc., an exempted company organized under the laws of the
Cayman Islands (the “New Borrower”), (2)
Gran Tierra Energy Colombia, Ltd., a limited partnership organized under the
laws of the State of Utah (the “Partnership”), (3)
Argosy Energy, LLC, a limited liability company organized under the laws of the
State of Delaware (the “GP”), (4) Solana
Petroleum Exploration (Colombia) Limited, an exempted company organized under
the laws of the Cayman Islands, (5) Solana Resources Limited, a limited company
organized under the laws of the Province of Alberta, Canada, (6) each of the
lenders party thereto from time to time and (7)  Standard Bank Plc as
letter of credit issuer, arranger and as administrative agent for the Secured
Parties (in such capacity, together with its successors in such capacity, the
“Administrative
Agent”).

         

        2.
Reference is also made to:

         

        (a) the
GP Pledge Agreement, dated as of January 1, 2009 (as amended, amended and
restated, supplemented or otherwise modified from time to time, the “GP Pledge
Agreement”), by GTE Colombia Holdings LLC, a Delaware limited liability
company (“GTE
Colombia”), in favor of the Administrative Agent;

         

        (b) the
Partnership Pledge Agreement, dated as of January 1, 2009 (as amended, amended
and restated, supplemented or otherwise modified from time to time, the “Partnership Pledge
Agreement”), by GTE Colombia and the GP in favor of the Administrative
Agent;

         

        (c) the
Collection Account Pledge Agreement, dated as of February 22, 2007 (as amended,
amended and restated, supplemented or otherwise modified from time to time, the
“Account Pledge
Agreement”), by the Partnership in favor of the Administrative
Agent;

        
          
             

          

          
            1

            
              

            

          

          
             

          

        

        (d) the
Blocked Account Control Agreement, dated as of February 22, 2007 (as amended,
amended and restated, supplemented or otherwise modified from time to time,
the  “Account Control
Agreement”), by and among the Partnership, the Administrative Agent and
JPMorgan Chase Bank; and

        (e) the
First Priority Open Pledge Agreement Over Credit Rights Derived From a Crude Oil
Commercial Sales Agreement, dated as of February 22, 2007 (the “Receivables Pledge
Agreement” and, together with the GP Pledge Agreement, the Partnership
Pledge Agreement, the Account Pledge Agreement and the Account Control
Agreement, the “Pledge
Agreements”), by the Partnership in favor of the Administrative
Agent.

         

        
          
            	
                    3.

                  	
                    In
      connection with that certain Credit Agreement, dated as of February 22,
      2007 (as amended by Amendment No. 1 to Credit Agreement, dated as of
      January 1, 2009, the “Original Credit
      Agreement”), by and among Gran Tierra Energy Inc., a Nevada
      corporation (the “Original
      Borrower”), the Partnership, the GP, the lenders party thereto and
      the Administrative Agent, liens in respect of certain collateral assets
      were granted in favor of the Administrative Agent pursuant to the Pledge
      Agreements.

                  

          

        

         

        
          
            	
                    4.

                  	
                    On
      the date hereof, the Original Credit Agreement has been amended, restated
      and replaced by the Amended and Restated Credit Agreement, with the
      intention of transferring all rights and obligations of the Original
      Borrower under the Original Credit Agreement and the other Loan Documents
      (as defined in the Original Credit Agreement) to the New
      Borrower.

                  

          

        

        
          
            
              	
                      5.

                    	
                      Each
      of the Partnership, the GP and GTE Colombia hereby acknowledges, agrees
      and confirms that, notwithstanding the amendment, restatement and
      replacement of the Original Credit Agreement pursuant to the terms of the
      Amended and Restated Credit Agreement, and notwithstanding the replacement
      of the Old Borrower with the New
Borrower:

                    

            

          

        

        
          
            	
                    (a)

                  	
                    each
      Pledge Agreement to which it is party will continue to constitute its
      legal, valid and binding obligation, enforceable against it in accordance
      with its terms, except as such enforceability may be limited by
      bankruptcy, insolvency, reorganization, moratorium or similar laws of
      general applicability affecting the enforcement of creditors’ rights and
      the application of general principles of equity (regardless of whether
      such enforceability is considered in a proceeding in equity or at
      law);

                  

          

        

         

        
          
            	
                    (b)

                  	
                    the
      liens granted pursuant to each Pledge Agreement to which it is party
      remain valid and perfected liens in favor of the Administrative Agent for
      the ratable benefit of the Secured Parties and will continue to serve as
      collateral security for the payment in full of the secured obligations
      described therein;

                  

          

        

         

        
          
            	
                    (c)

                  	
                    it
      will, upon notice to such effect from the Administrative Agent, promptly
      execute and deliver such further instruments and agreements and perform
      such further acts as may be requested by the Administrative Agent to
      maintain the enforceability, validity, perfection and/or priority of the
      liens created pursuant to the Pledge Agreements, to enable the
      Administrative Agent to exercise and enforce its rights under the Pledge
      Agreements or to otherwise give effect to the matters set forth in this
      letter agreement; and

                  

          

        

        
          
             

          

          
            2

            
              

            

          

          
             

          

        

        (d) it
will not, directly or indirectly, initiate, prosecute or participate in any
claim, action or other proceeding challenging the enforceability, validity,
perfection or priority of the liens created pursuant to the Pledge Agreements,
or any other liens or guarantees in respect of the obligations of the Obligors
granted pursuant to any other Loan Document.

         

        
          	
                  1.

                	
                  Nothing
      herein shall be deemed to be, nor construed as, an amendment to or an
      agreement to amend any of the provisions of the Amended and Restated
      Credit Agreement, any Pledge Agreement or any other Loan Document, all of
      which shall continue to remain in full force and effect and be unaffected
      hereby.

                

        

         

        
          	
                  2.

                	
                  This
      letter is a Loan Document and shall be governed by and construed in
      accordance with the laws of the State of New York.  This letter
      may be executed in any number of counterparts and all of such counterparts
      taken together shall be deemed to constitute one and the same instrument.
      Delivery of an executed signature page of this letter by electronic
      transmission will be effective as delivery of a manually executed
      counterpart hereof.

                

        

        

        [Remainder of page left blank
intentionally]

        

          
            
               

            

            
              3

              
                

              

            

            
               

            

          

          

          If the foregoing correctly sets forth
our understanding, please indicate your acceptance of the terms hereof by
returning to us an executed counterpart hereof, whereupon this letter shall
become a binding agreement among us.

          

          
            
              
                	
                        Sincerely,

                      
	 
      
	
                        GRAN
      TIERRA ENERGY COLOMIBA, LTD.,

                      
	 
      	 
      
	
                        By:  Argosy
      Energy, LLC, its General Partner

                      
	 
      	 
      
	
                        By: 

                      	
                        /s/ Edgar Louis Dyes

                      
	
                        Name:  Edgar
      Louis Dyes

                      
	
                        Title:   
      Manager

                      
	 
      	 
      
	
                        ARGOSY
      ENERGY, LLC

                      
	 
      	 
      
	
                        By: 

                      	
                        /s/ Edgar Louis Dyes

                      
	
                        Name:  Edgar
      Louis Dyes

                      
	
                        Title:   
      Manager

                      
	 
      	 
      
	
                        GTE
      COLOMBIA HOLDINGS LLC

                      
	 
      
	
                        By:  Gran
      Tierra Cayman Islands Inc., the General Manager and the manager of Series
      1, Series 2, Series 3, Series 4, Series 5, Series 6, Series 7, Series 8
      and Series 9 of GTE Colombia Holdings LLC

                      
	 
      	 
      
	
                        By: 

                      	
                        /s/ Martin Eden

                      
	
                        Name:  Martin
      Eden

                      
	
                        Title:   
      Director

                      
	 
      	 
      
	
                        GRAN
      TIERRA ENERGY CAYMAN ISLANDS INC.

                      
	 
      	 
      
	
                        By: 

                      	
                          /s/ Martin Eden

                      
	
                        Name:  Martin
      Eden

                      
	
                        Title:   
      Director

                      

              

            

          

          
            
               

            

            
              4

              
                

              

            

            
               

            

          

          The
undersigned parties acknowledge, agree to and accept the terms of the letter as
of the date hereof:

          

          STANDARD
BANK PLC, as majority Bank and Administrative Agent

           

          
            
              
                	
                        By: 

                      	
                        /s/ Martin Revoredo

                      
	 
	
                        Name:
      Martin Revoredo

                      
	
                        Title:  
      Director

                      
	 
      	 
      
	
                        By: 

                      	
                        /s/ Roderick L. Fraser

                      
	 
      	 
      
	
                        Name:  Roderick
      L. Fraser

                      
	
                        Title:   
      Global Head of Oil & Gas,
Renewables

                      

              

            

          

          
            
               

            

            
              5

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