Document:

Exhibit
      10.56

     

    AMENDMENT
      NO. 1 TO COLOMBIAN PARTICIPATION AGREEMENT

     

    THIS
      AMENDMENT NO. 1 TO COLOMBIAN PARTICIPATION AGREEMENT (this “Amendment”)
      is
      entered into as of the 1st day of November, 2006, by and among Argosy
Energy
      International, a Utah limited partnership (“Argosy”),
      Gran
      Tierra Energy Inc., a Nevada corporation (“Gran
      Tierra”),
      and
      Crosby Capital, LLC, a Texas limited liability company (“Crosby”).
      The
      entities named above may also be referred to herein individually as a
“Party”
or
      collectively as the “Parties.”
All
      capitalized terms not otherwise defined herein shall be given the
      meanings assigned to such terms in that certain Colombian Participation
      Agreement, dated as of
      June
      22, 2006, by and among Argosy, Gran Tierra, and Crosby (the “Original
      Participation Agreement”)

     

    RECITALS

     

    WHEREAS,
      the Parties executed the Original Participation Agreement, a copy of which
      is attached hereto as Exhibit A, on June 22, 2006;

     

    WHEREAS,
      the Parties desire to amend the Original Participation Agreement as set forth
      herein; and

     

    WHEREAS,
      pursuant to Section 13.4 of the Original Participation Agreement, no
      modification or waiver of any provision of the Original Participation Agreement
      shall be effective unless set forth in writing signed by the
      Parties.

     

    AGREEMENT

     

    NOW,
      THEREFORE, in consideration of the covenants and agreements herein, and other
      good and valuable consideration, the receipt and sufficiency of which are hereby
      acknowledged, the Parties agree as follows:

     

    
      	
              1.

            	
              Section
                6.2.1(a) of the Original Participation Agreement is hereby amended
                and
                restated in its entirety to read as
                follows:

            

    

     

    “(a) Amount:
      The
      face amount of the Initial Letter of Credit shall be USD$4,000,000.00. Draws
      from the Initial Letter of Credit must be replaced, within 45 days of any such
      draws, to keep the required USD$4,000,000.00 face value of the Letter
      of Credit in place. In the event that Crosby properly draws on the Initial
      Letter of Credit, Gran Tierra shall, within 45 days of such draw, provide a
      new
      Letter of Credit, in substantially similar form, with substantially similar
      terms as the Initial Letter of Credit and with a face amount equal to the amount
      of such draw so that the undrawn face amount
      of
      all Letters of Credit issued to Crosby to secure Gran Tierra’s obligations under
      this Agreement shall, at all times after 45 days following any draw thereunder
      during the Initial Term, equal USD$4,000,000.00. If Gran Tierra fails to provide
      such new Letter of Credit within the applicable 45 day period, in breach of
      the
      foregoing, Crosby may draw the remaining undrawn amount of the Initial Letter
      of
      Credit and cause the proceeds of such
      draw
      to be deposited to the Crosby Escrow Account (as defined in Section 6.5) as
      set
      forth
      in Section 6.5.”

    

      Amendment
        No. 1 to

      Colombian
        Participation Agreement

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              2.

            	
              The
                definition of “Issuer
                Acceptable Credit Rating,”
                set forth in Section 6.2.1(c) of the Original Participation Agreement
                shall be amended, and Section 6.2.1(c) of the Original Participation
                Agreement is hereby amended and restated in its entirety to read
                as
                follows:

            

    

     

    “(c) Issuer.
      The
      Initial Letter of Credit on terms consisted with this Section 6 and Exhibit
      A
      attached hereto, with such other documentary conditions as may be acceptable
      to Crosby shall be issued by a bank with a minimum credit rating of any of
      the following: (i) BBB, by Standard and Poor’s, (ii) Baa2 by Moody’s Investor
      Services, or (iii) BBB by Fitch IBCA (the “Issuer
      Acceptable Credit Rating”).
      Crosby may request and Gran

     

    Tierra
      shall then promptly provide a replacement standby letter of credit in accordance
      with the terms of Section 6 if the Issuer Acceptable Credit Rating declines
      below BBB (if Standard and Poor’s or Fitch IBCA) or Baa2 (if Moody’s Investor
      Services).”

     

    
      	
              3.

            	
              Section
                II to Exhibit A of the Original Participation Agreement is hereby
                amended
                and restated in its entirety to read as
                follows:

            

    

     

    “II Letter
      of Credit Renewal Default.

     

    Crosby
      shall be entitled to draw on the Letter of Credit in full and
      deposit
      such amount in an escrow account at the Crosby Escrow Bank if and only if it
      certifies to the Issuer Bank with reasonable evidence attached thereto that
      the
      money will be deposited in
      such
      escrow and any of the following three conditions are satisfied:

     

    A. if
      Gran
      Tierra fails to extend the expiration date of the Initial Letter of Credit
      to
      ensure that the Initial Letter of Credit remains outstanding until the expiry
      of
      the Initial Term, pursuant to Section
      6.2;
      or

     

    B. both
      (i)
      not less than 60 days nor more than 90 days prior to the end of any Letter
      of
      Credit term, Crosby delivered written notice to Gran Tierra, Argosy and/or
      any
      permitted transferee, that any of them, as the case may be, is required under
      Section
      6 and
      this
Exhibit
      A
      to
      deliver to Crosby a Letter of Credit satisfying the terms set forth in
Section
      6
      and this
Exhibit
      A,
      and
      (ii) Gran Tierra, Argosy or such permitted transferee has
      not
      within ten (10) business days provided such new Letter of Credit;
      or

     

    C. after
      45
      days following any draw under a Letter of Credit, Gran Tierra, Argosy or any
      permitted transferee has not provided a new Letter of Credit required
under
      Section 6.2.1(a) such that the undrawn face amount of all Letters of Credit
      issued to
      Crosby
      to secure Gran Tierra’s obligations under this Agreement is not, at all times
after
      45
      days following any draw during the Initial Term, equal to
      USD$4,000,000.00.”

     

    
      	
              4.

            	
              Article
                9 of the Original Participation Agreement is hereby amended by adding
                Section 9.3 to Article 9, as
                follows:

            

    

    

      Amendment
        No. 1 to

      Colombian
        Participation Agreement

    

     

    
      
        
        

      

      
        -
          2 -

        
          

        

      

      
        
        

      

    

    “9.3 Letter
      of Credit Rights Upon Assignment.
      If
      Crosby and/or any of the Crosby Members sells, assigns, transfers or otherwise
      disposes of any or all of the Participation Rights pursuant to Section 9.1
      or
      Section 9.2, and any Person other than Crosby is designated as the sole
      representative of the assignees of the Participation Rights pursuant to Section
      9.1.1, then Crosby shall have the right, upon written request to Gran Tierra
      which identifies such designated representative, to obtain the issuance of
      a
      replacement Letter of Credit (the “Replacement Letter of Credit”) on
      substantially the same
      terms as the Letters of Credit issued pursuant to Article 6, but naming the
      designated representative as beneficiary. The Replacement Letter of Credit
      shall only be issued by the issuing bank upon Crosby’s tender, to the issuing
      bank, of all Letters of Credit naming Crosby as beneficiary. Gran Tierra, Crosby
      and Argosy shall take such actions as are reasonably necessary to cause the
      issuing bank to issue the Replacement Letter of Credit to the designated
      representative as soon as practical following such written
      request. If the request to issue a Replacement Letter of Credit is received
      by
      Gran Tierra within 30 days of a date that Gran Tierra is obligated to procure
      a
      new or replacement Letter of Credit for any reason other than the obligations
      under this Section 9.3, the costs of obtaining the issuance of the Replacement
      Letter of Credit will be borne by Gran Tierra. If the request for the
      Replacement Letter of Credit is received by Gran Tierra at any time other than
      the foregoing, the out-of-pocket costs incurred by Gran Tierra
      for obtaining the issuance of the Replacement Letter of Credit shall be borne
      by
      Crosby. Gran Tierra shall not be deemed to have violated this Section 9.3 if
      it
      refuses to obtain the issuance of the Replacement Letter of Credit until the
      reimbursement of such costs is made or adequately provided for to the
      satisfaction of Gran Tierra.”

     

    
      	
              5.

            	
              The
                Initial Letter of Credit to be issued to Crosby pursuant to Section
                6 of
                the Original Purchase Agreement shall be in substantially the form
                attached hereto as Exhibit
                B.

            

    

     

    
      
        
          	6.	
                  References
                    to the “Agreement”
                    in the Original Participation Agreement shall be deemed to
                    include the Original Participation Agreement, as amended by this
                    Amendment. Except as expressly modified or otherwise as set forth
                    herein,
                    the terms and conditions of the Original Participation Agreement
                    remain in
                    full force and effect.

                

        

      

    

     

    [SIGNATURES
      ON NEXT PAGE]

    

      Amendment
        No. 1 to

      Colombian
        Participation Agreement

    

     

    
      
        
        

      

      
        -
          3 -

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the duly authorized representatives of the Parties have caused
      this Amendment to be executed on the date first written above.

     

    
      	
              ARGOSY
                ENERGY INTERNATIONAL

            
	 
	
              By:

            	
              /s/
                James Hart 

            
	
              Name: 

            	
              James
                Hart

            
	
              Title:

            	
              Secretary

            
	 
	
              GRAN
                TIERRA ENERGY INC.

            
	 
	
              By:

            	
              /s/
                James Hart

            
	
              Name: 

            	
              James
                Hart

            
	
              Title:

            	
              Chief
                Financial Officer

            
	 
	
              CROSBY
                CAPITAL, LLC

            
	 
	
              By:

            	
              /s/
                Jay Allen Chaffee

            
	
              Name: 

            	
              Jay
                Allen Chaffee

            
	
              Title:

            	
              President

            

    

    Amendment
      No. 1 to

    Colombian
      Participation Agreement

     

    
      
        
        

      

      
        -
          4 -

        
          

        

      

      
        
        

      

    

     

    Exhibit
      A

     

    [Original
      Participation Agreement attached hereto]

    Amendment
      No. 1 to

    Colombian
      Participation Agreement

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Original
      Participation Agreement Not Recopied

    

      Amendment
        No. 1 to

      Colombian
        Participation Agreement

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Exhibit
      B

     

    [Form
      of the Initial Letter of Credit attached hereto]

    

      Amendment
        No. 1 to

      Colombian
        Participation Agreement

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IRREVOCABLE
      STANDBY LETTER OF CREDIT

     

    Effective
      as of 31st October, 2006

     

    Irrevocable
      Letter of Credit No. [ ]

     

    
      	 	
              APPLICANT:

              GRAN
                TIERRA ENERGY INC.

              300,
                611 — 10th
                Avenue S.W.

              Calgary,
                Alberta

              Canada
                T2R OBZ

               

            
	 	
              STATED
                AMOUNT:

              USD
                $4,000,000

               

            
	 	
              EXPIRY
                DATE

              31st
                October, 2007

              (save
                as such date may be extended pursuant to paragraph 9 below)

              AT
                OUR COUNTERS

            

    

    

    BENEFICIARY:

    CROSBY
      CAPITAL, LLC

    712
      Main
      Street, Suite 1700

    Houston,
      TX 77002

    Attention:
      Jay Allen Chaffee

     

    Re: Colombian
      Participation Agreement 

    

    1. We,
      Standard Bank Plc (the “Issuing
      Bank”),
      hereby issue our irrevocable Standby Letter of Credit on behalf of Gran Tierra
      Energy Inc (the “Applicant”)
      for an
      amount of USD 4,000,000 (Four Million United States Dollars) in favour of Crosby
      Capital, LLC (the “Beneficiary”).

     

    2. This
      Standby Letter of Credit covers all monies and liabilities (whether actual
      or
      contingent) for up to the amount of USD 4,000,000 (Four Million United States
      Dollars) which are now or shall at any time hereafter be due, owing or payable
      to the Beneficiary from or by the Applicant under the terms of a participation
      agreement entered into on 22nd June, 2006 between the Applicant, Beneficiary
      and
      Argosy Energy International (as amended and in effect from time to time, the
      “Colombian
      Participation Agreement”).

     

    3. CLAIM
      DOCUMENTATION. Authenticated swift or tested telex claiming the sum due and
      in
      the appropriate form designated below:

     

    
      	
              (a)

            	
              if
                a claim is being made with respect to a payment default under the
                Colombian Participation Agreement, the form of Exhibit A
                hereto;

            

    

     

    
      	
              (b)

            	
              if
                a claim is being made with respect to a Letter of Credit renewal
                default
                under the Colombian Participation Agreement, the form of Exhibit
                B
                hereto;

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              (c)

            	
              if
                a claim is being made with respect to a default under the Columbian
                Participation Agreement in providing an additional Letter of Credit
                following a draw under a Letter of Credit, the form of Exhibit C;
                and/or

            

    

     

    
      	
              (d)

            	
              if
                a claim is being made with respect to an Issuing Bank credit rating
                downgrade under the Colombian Participation Agreement, the form of
                Exhibit
                D hereto.

            

    

     

    4. We
      hereby
      irrevocably and unconditionally undertake to honour all claims made by the
      Beneficiary in accordance with the terms and conditions of this Standby Letter
      of Credit within five (5) Business Days after our receipt thereof provided
      such
      claim documentation is received on or prior to 5:30pm (Greenwich Meantime)
      on
      the Expiry Date or on any day prior to the Expiry Date. For the purposes of
      this
      Standby Letter of Credit, “Business
      Day”
shall
      mean any day (other than a Saturday or Sunday) on which banks are open for
      business in London.

     

    5. It
      is
      further agreed that this Standby Letter of Credit shall be without prejudice
      to
      such rights as the Beneficiary may have at any time in respect of any security
      that the Beneficiary may hold for the said indebtedness and liabilities and
      that
      our liability shall not be affected by giving time or other indulgence to the
      Applicant, or by the Beneficiary realizing or entering into any compromise
      with
      depositors or any other collateral the Beneficiary may hold at any time in
      respect of the said liability.

     

    6. TT
      Reimbursement and partial drawings are allowed.

     

    7. This
      Standby Letter of Credit is not assignable.

     

    8. A
      person
      who is not a party to this Standby Letter of Credit has no right under the
      Contracts (Rights of Third Parties) Act 1999 to enforce the terms of this
      Standby Letter of Credit.

     

    9. Save
      as
      may be extended in accordance with the terms below, this Standby Letter of
      Credit expires at the counters of Standard Bank Plc on the Expiry Date. At
      any
      time no less than 90 days but no more than 120 days prior to the Expiry Date,
      the Applicant may by written notice addressed to the Issuing Bank request that
      the Expiry Date is extended for an additional period not to exceed one year.
      The
      Issuing Bank shall, no later than 30 days after receiving such request, notify
      the Beneficiary and the Applicant of its acceptance or rejection of such request
      and, if accepted, confirm the new Expiry Date.

     

    10. All
      documents presented to the Issuing Bank in connection with any demand for
      payment under this Letter of Credit, as well as all notices and other
      communications to the Issuing Bank in respect hereof, shall be in writing,
      shall
      make specific reference to this Standby Letter of Credit by number and shall
      be
      delivered to the Issuing Bank at its office located at Standard Bank PLC, Canon
      Bridge House, 25 Dowgate Hill, London, EC4R 2SB (or at any other office of
      the
      Issuing Bank as may be designated by the Issuing Bank by written notice
      delivered to the Beneficiary) by authenticated SWIFT message (or any other
      form
      of communication previously agreed in writing with the Issuing Bank) to the
      following address (or at any number(s) designated by the Issuing Bank by written
      notice delivered to the Beneficiary), as applicable: [please
      provide].

     

    11. This
      Standby Letter of Credit is subject to the Uniform Customs and Practice for
      Documentary Credits (1993 Revision), International Chamber of Commerce,
      Publication No. 500 (the “UCP”).
      This
      Standby Letter of Credit shall be governed by the laws of the State of New
      York,
      and the state and federal courts located in the State, County and City of New
      York shall have non-exclusive jurisdiction in any action or proceeding arising
      out of this Standby Letter of Credit.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    12. Demand
      for payment under this Standby Letter of Credit shall be presented directly
      to
      the Issuing Bank and shall not be negotiated.

     

    13. Standard
      Bank Plc’s charges are for the account of the Applicant, all other charges are
      for the account of the Beneficiary.

     

    14. By
      paying
      the Beneficiary an amount demanded in accordance with this Standby Letter of
      Credit, the Issuing Bank makes no representation as to the correctness of the
      amount demanded or of the calculations and representations of the Beneficiary
      required by this Letter of Credit.

     

    15. This
      Standby Letter of Credit sets forth in full the Issuing Bank’s undertaking, and
      such undertaking shall not be deemed in any way to be modified, amended,
      amplified or otherwise affected by any document, instrument or agreement
      referred to herein (including, without limitation, the Colombian Participation
      Agreement or credit agreement to which is relates), except only the Uniform
      Customs and the certificate(s)provided for herein.

     

    
      	STANDARD
              BANK PLC
	 	 
	
              By:

            	   
	
            
	
              Title:

            	  
	
            
	 	 
	
              By:

            	 
	
            
	
              Title:

            	  
	
            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Exhibit
      A

    Irrevocable
      Letter of Credit

    No.
      ________

     

    CERTIFICATE
      FOR A PAYMENT DEFAULT

     

    The
      undersigned hereby certifies to Standard Bank PLC (the “Issuing
      Bank”),
      with
      reference to Irrevocable Letter of Credit No. _______ (the “Letter
      of Credit”)
      issued
      by the Issuing Bank in favor of Crosby Capital, LLC (the “Beneficiary”),
      and
      for the account of Gran Tierra Energy Inc. (the “Account
      Party”),
      that
      the undersigned is a duly authorized officer of the Beneficiary, that any
      capitalized term used but not defined herein shall have its respective meaning
      set forth in the Letter of Credit or the Colombian Participation Agreement
      referred to therein and that:

     

    The
      Beneficiary is entitled to draw $[  
      ] (the
“Draw
      Amount”)
      under
      the Letter of Credit, which is the exact amount that is owed to the Beneficiary
      under the Colombian Participation Agreement. The Beneficiary hereby directs
      the
      Issuing Bank to pay the Draw Amount by wire transfer of such amount in
      immediately available funds to the account of the Beneficiary specified
      below:

     

    Bank
      Name:

    Address:

    ABA
      No.:

    Account
      Name: 

    Account
      No.:

    Attention:

     

    [Include
      either [A] or [B].]

     

    [A]
      [The
      Beneficiary further certifies to the Issuing Bank that attached hereto is the
      written agreement of the Account Party acknowledging that the Draw Amount is
      due
      to the Beneficiary under the Colombian Participation Agreement and that the
      Account Party and its affiliates have failed to make such payment.]

     

    [B]
      [Include either [1] or [2]]

     

      
      [(1)] [The Beneficiary further certifies to the Issuing Bank that:

     

    (a) an
      award
      of the Panel provided in Section 11.2 of the Colombian Participation Agreement,
      provided for payment of the Draw Amount to the
      Beneficiary (the “Crosby
      Arbitration Award”);
      and

     

    (b) within
      10
      business days of the Crosby Arbitration Award, (i) the Crosby Arbitration Award
      has not been paid and (ii) the Crosby Arbitration
      Award has not been appealed.]

     

       [(2)]
      [The Beneficiary further certifies to the Issuing Bank that:

     

    (a) an
      award
      of the Panel provided in Section 11.2 of the Colombian Participation Agreement,
      provided for payment of the Draw Amount to the
      Beneficiary (the “Crosby
      Arbitration Award”);

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Exhibit
      A

    Irrevocable
      Letter of Credit

    No.
      ________

     

    (b) within
      10
      business days of the Crosby Arbitration Award, (i) the Crosby Arbitration Award
      was not paid and (ii) the Crosby Arbitration Award was appealed;

     

    (c) a
      final
      determination of the Crosby Arbitration Award favorable to

     

    the
      Beneficiary has been entered (the “Crosby
      Final Determination”)
      on
      appeal; and

     

    (d) the
      Beneficiary has not been paid in full the amount of the Crosby Final
      Determination within 5 business days of such Crosby Final
      Determination.]

    

    IN
      WITNESS WHEREOF, the Beneficiary has executed and delivered this Certificate
      as
      of the ____ day of __________, ____.

    

    
      	
              CROSBY
                CAPITAL, LLC

            
	 
	
              By:

            	 

	
              Title:

            	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Exhibit
      B

    Irrevocable
      Letter of Credit

    No.
      ________

     

    CERTIFICATE
      FOR A LETTER OF CREDIT RENEWAL DEFAULT

     

    The
      undersigned hereby certifies to Standard Bank PLC (the “Issuing
      Bank”),
      with
      reference to Irrevocable Letter of Credit No. _______ (the “Letter
      of Credit”)
      issued
      by the Issuing Bank in favor of Crosby Capital, LLC (the “Beneficiary”),
      and
      for the account of Gran Tierra Energy Inc. (the “Account
      Party”),
      that
      the undersigned is a duly authorized officer of the Beneficiary, that any
      capitalized term used but not defined herein shall have its respective meaning
      set forth in the Letter of Credit or the Colombian Participation Agreement
      referred to therein and that:

     

    The
      Beneficiary is entitled to draw the Letter of Credit in full and deposit the
      Stated Amount in the escrow account at the Crosby Escrow Bank specified below
      (the “Escrow
      Account”).
      The
      Crosby Escrow Agreement has been executed by each of the Beneficiary and the
      Crosby Escrow Bank, and contains the provisions required by the Colombian
      Participation Agreement. A copy of such executed Crosby Escrow Agreement is
      delivered herewith. The Beneficiary hereby directs the Issuing Bank to pay
      the
      Stated Amount under the Letter of Credit by wire transfer of such amount in
      immediately available funds directly to the Escrow Account, as
      follows:

     

    Bank
      Name:

    Address:

    ABA
      No.:

    Account
      Name: 

    Account
      No.:

    Attention:

     

    [Include
      either [A] or [B].]

     

    [A]
      The
      Beneficiary hereby further certifies to the Issuing Bank that: (I) the Initial
      Term has not expired; and (2) the Account Party has failed to extend the Expiry
      Date of the Letter of Credit for an additional one year, pursuant to Section
      9
      of the Letter of Credit.]

     

    [B]
      The
      Beneficiary hereby further certifies that:

     

    
      	 	
              (1)

            	
              not
                less than 60 days nor more than 90 days prior to the Stated Termination
                Date, the Beneficiary delivered written notice to the Account Party
                that
                the Account Party is required under Section 6 of the Participation
                Agreement to deliver to the Beneficiary confirmation of an extension
                of
                the Letter of Credit for an additional period equal to the shorter
                of (i)
                one year from the Stated Termination Date and (ii) the period ending
                on
                the last day of the Initial Term;
                and

            

    

     

    
      	 	
              (2)

            	
              the
                Account Party has not provided such an extension of the Letter of
                Credit
                prior to the date that is 10 Business Days following the date which
                is 60
                days prior to the Stated Termination
                Date.)

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Exhibit
      B

    Irrevocable
      Letter of Credit

    No.
      ________

     

    IN
      WITNESS WHEREOF, the Beneficiary has executed and delivered this Certificate
      as
      of the ____ day of __________, ____.

     

    
      	
              CROSBY
                CAPITAL, LLC

            
	 	 
	
              By:

            	 

	
              Title:
                

            	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Exhibit
      C

    Irrevocable
      Letter of Credit

    No.
      ________

     

    CERTIFICATE
      FOR A LETTER OF CREDIT REINSTATEMENT DEFAULT

     

    The
      undersigned hereby certifies to Standard Bank PLC (the “Issuing
      Bank”),
      with
      reference to Irrevocable Letter of Credit No. ______ (the “Letter
      of Credit”)
      issued
      by the Issuing Bank in favor of Crosby Capital, LLC (the “Beneficiary”),
      and
      for the account of Gran Tierra Energy Inc. (the “Account
      Party”),
      that
      the undersigned is a duly authorized officer of the Beneficiary, that any
      capitalized term used but not defined herein shall have its respective meaning
      set forth in the Letter of Credit or the Colombian Participation Agreement
      referred to therein and that:

     

    The
      Beneficiary is entitled to draw the remaining undrawn portion of the Stated
      Amount of the Letter of Credit (the “Remaining
      Amount”)
      and
      deposit the Remaining Amount in the escrow account at the Crosby Escrow Bank
      specified below (the “Escrow
      Account”).
      The
      Crosby Escrow Agreement has been executed by each of the Beneficiary and the
      Crosby Escrow Bank, and contains the provisions required by the Colombian
      Participation Agreement. A copy of such executed Crosby Escrow Agreement is
      delivered herewith. The Beneficiary hereby directs the Issuing Bank to pay
      the
      Remaining Amount under the Letter of Credit by wire transfer of such amount
      in
      immediately available funds directly to the Escrow Account, as
      follows:

     

    Bank
      Name:

    Address:

    ABA
      No.:

    Account
      Name: 

    Account
      No.:

    Attention:

     

    The
      Beneficiary hereby further certifies that, following a prior draw under a Letter
      of Credit, the Account Party has failed to deliver a new letter of Credit to
      the
      Beneficiary in the amount of such draw within 45 days of such draw as required
      by the Columbian Participation Agreement.

     

    IN
      WITNESS WHEREOF, the Beneficiary has executed and delivered this Certificate
      as
      of the ____ day of __________, ____.

     

    
      	
              CROSBY
                CAPITAL, LLC

            
	 
	
              By:

            	  
              
	
              Title:
                

            	  
              

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Exhibit
      D

    Irrevocable
      Letter of Credit

    No.
      ________

    

    CERTIFICATE
      FOR AN ISSUING BANK CREDIT

    RATING
      NON-MAINTENANCE DEFAULT

     

    The
      undersigned hereby certifies to Standard Bank PLC (the “Issuing
      Bank”),
      with
      reference to Irrevocable Letter of Credit No. ______ (the “Letter
      of Credit”)
      issued
      by the Issuing Bank in favor of Crosby Capital, LLC (the “Beneficiary”),
      and
      for the account of Gran Tierra Energy Inc. (the “Account
      Party”),
      that
      the undersigned is a duly authorized officer of the Beneficiary, that any
      capitalized term used but not defined herein shall have its respective meaning
      set forth in the Letter of Credit or the Colombian Participation Agreement
      referred to therein and that:

     

    The
      Beneficiary is entitled to draw the Letter of Credit in full and deposit the
      Stated Amount in the escrow account at the Crosby Escrow Bank specified below
      (the “Escrow
      Account”).
      The
      Crosby Escrow Agreement has been executed by each of the Beneficiary and the
      Crosby Escrow Bank, and contains the provisions required by the Colombian
      Participation Agreement. A copy of such executed Crosby Escrow Agreement is
      delivered herewith. The Beneficiary hereby directs the Issuing Bank to pay
      the
      Stated Amount under the Letter of Credit by wire transfer of such amount in
      immediately available funds directly to the Escrow Account, as
      follows:

     

    Bank
      Name:

    Address:

    ABA
      No.:

    Account
      Name: 

    Account
      No.:

    Attention:

     

    The
      Beneficiary hereby further certifies that:

     

    
      	 	
              A.

            	
              the
                Beneficiary delivered written notice to the Account Party that the
                Issuing
                Bank’s credit rating has fallen below the Issuer Acceptable Credit Rating
                and requested delivery of a replacement Letter of Credit as required
                under
                Section 6 of the Participation Agreement;
                and

            

    

     

    
      	 	
              B.

            	
              the
                Account Party has not within 15 business days following receipt of
                such
                notice provided such a replacement Letter of
                Credit.

            

    

     

    

    IN
      WITNESS WHEREOF, the Beneficiary has executed and delivered this Certificate
      as
      of the ____ day of __________, ____.

     

    

    
      	
              CROSBY
                CAPITAL, LLC

            
	 
	
              By:

            	  
              
	
              Title:Exhibit
      10.57

     

    EXECUTIVE
      EMPLOYMENT AGREEMENT

     

    BETWEEN:

     

    GRAN
      TIERRA ENERGY INC.,
      an
      Alberta corporation (“GTEI”)
      and
GRAN
      TIERRA ENERGY INC.,
      a
      Nevada corporation (“Gran
      Tierra”)

     

    (GTEI
      and
      Gran Tierra are collectively referred to herein as, the “Company”)
      

     

    -
      and

     

    DANA
      QUENTIN COFFIELD,
      an
      individual ordinarily resident in the City of Calgary  in
      the
      Province of Alberta 

     

    (the
      “Executive”)
      

     

    (collectively
      referred to as the “Parties”)

     

    RECITALS:

     

    
      	
              A.

            	
              The
                Executive has specialized knowledge and valuable skills and experience
                which are critical to the management and success of the
                business.

            

    

     

    
      	
              B.

            	
              The
                Company wishes to secure the services of the Executive and to ensure
                that
                the Executive remains President and Chief Executive Officer of the
                business.

            

    

     

    
      	
              C.

            	
              The
                Executive is currently an employee of the Company pursuant to an
                employment agreement between the Executive and the Company dated
                April 29,
                2005, as amended (the “Prior
                Agreement”).

            

    

     

    
      	
              D.

            	
              The
                Parties wish to set forth their entire understanding and agreement
                with
                respect to the subject matter hereof and replace the Prior Agreement
                in
                its entirety with this Executive Employment Agreement (the “Agreement”).

            

    

     

    THEREFORE,
      the
      Parties agree as follows:

     

    ARTICLE
      1

    DUTIES
      AND RESPONSIBILITIES

     

    1.1 Position. 

     

    The
      Company confirms the appointment of the Executive to the position of President
      and Chief Executive Officer. The Executive will undertake those duties and
      responsibilities set out in Schedule “A” to this Agreement as well as those
      duties reasonably assigned to the Executive by the Board of Directors of the
      Company (the “Board”).
      The
      Executive will report to the Board. The parties agree that the relationship
      between the Company and the Executive created by this Agreement is that of
      employer and employee.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    1.2 Other
      Engagements. 

     

    The
      Executive shall not engage in any other business, profession or occupation
      which
      would conflict with the performance of his duties and responsibilities under
      this Agreement, either directly or indirectly, including accepting appointments
      to the boards of other companies without the prior written consent of the
      Board.

     

    1.3 Reassignment. 

     

    The
      Company shall not reassign the Executive to another position within the Company
      itself, or to a position within a subsidiary, affiliated or related corporate
      entity (“Member
      Company”
or
      “Member
      Companies”)
      or
      alter the duties, responsibilities, title, or reporting lines of the Executive
      or change the location of the Executive’s employment unless the Executive agrees
      to such reassignment or alteration.

     

    1.4 Travel. 

     

    The
      Executive shall be employed at the Company’s location in Calgary, Alberta. The
      Executive shall be available for such business related travel as may be required
      for the purposes of carrying out the Executive’s duties and responsibilities.
      The Executive shall be entitled to business class tickets for domestic or
      international flights with a duration of more than 1 hour. The Executive will
      be
      entitled to choose suitable accommodations when travelling on Company
      business.

     

    ARTICLE
      2

    TERM
      OF EMPLOYMENT

     

    Executive’s
      employment with the Company is for no specified duration and constitutes at-will
      employment. Executive’s employment may be terminated at any time by either of
      the Parties, subject to the provisions of Article 9.

     

    ARTICLE
      3

    BASE
      SALARY

     

    The
      Executive will be paid an annual salary in
      an
      amount determined by the Board,
      subject
      to applicable statutory deductions (the “Base
      Salary”).
      The
      Executive’s Base Salary will be payable in accordance with Company practices and
      procedures as they may exist from time to time. Base Salary will be reviewed
      and
      may be increased on an annual basis by the Board, with input from the
      Executive.

     

    ARTICLE
      4

    BONUS

     

    4.1 Bonus
      Eligibility. 

     

    The
      Executive shall be eligible to receive an annual bonus payment in addition
      to
      Base Salary and other compensation for each year of the Executive’s employment
      (the “Bonus”)
      as
      determined by the Board from time to time.

    
      
        
        

      

      
        2.

        
          

        

      

      
        
        

      

    

    4.2 Bonus
      Payment. 

     

    The
      Bonus
      shall be payable within sixty (60) days of the end of the fiscal year, and
      will
      be based upon the Executive’s performance during the preceding
      year.

     

    ARTICLE
      5

    BENEFITS

     

    The
      Executive shall be entitled to participate in and to receive all rights and
      benefits under any life insurance, disability, medical, dental, health and
      accident plans maintained by the Company for its employees and for its executive
      officers specifically. The Company will continue to pay the Executive’s Base
      Salary in the event the Executive becomes disabled until such time as the
      Executive begins to receive long-term disability insurance
      benefits.

     

    ARTICLE
      6

    VACATION

     

    The
      Executive will be entitled to five weeks vacation per year. Payment of all
      vacation pay will be at Base Salary. The Executive will arrange vacation time
      to
      suit the essential business needs of the Company. Unused vacation entitlement
      will be carried over into the following calendar year to a maximum entitlement
      of eight weeks in any one year. On leaving the employment of the Company for
      whatever reason, the Company will compensate the Executive for any accrued
      but
      unused vacation entitlement based upon the Executive’s then current Base
      Salary.

     

    ARTICLE
      7

    STOCK
      OPTIONS

     

    The
      Company will provide the Executive with the right to participate in stock option
      plans and/or incentive award plans approved by the Board.

     

    ARTICLE
      8

    PERQUISITES
      AND EXPENSES

     

    The
      Company recognizes that the Executive will incur expenses in the performance
      of
      the Executive’s duties. The Company shall reimburse the Executive for any
      reasonable out of pocket expenses incurred in the course of
      employment.

     

    ARTICLE
      9

    TERMINATION
      OF EMPLOYMENT

     

    9.1 Termination
      Without Notice. 

     

    This
      Agreement and the Executive’s employment with the Company may be terminated,
      without the Company being obligated to provide the Executive with advance notice
      of termination or pay in lieu of such notice, whether under contract, statute,
      common law or otherwise, in the following circumstances:

    
      
        
        

      

      
        3.

        
          

        

      

      
        
        

      

    

    (a) Voluntary
      Resignation. 

     

    In
      the
      event the Executive voluntarily resigns, except where the Executive resigns
      for
      Good Reason as provided for in this Agreement, the Executive will give a minimum
      of ninety (90) days’ advance written notice to the Company. The Executive will
      not be entitled to receive any further compensation or benefits whatsoever
      other
      than those which have accrued up to the Executive’s last day of active service
      with the Company. The Company may, at its discretion, waive in whole or in
      part
      such notice with payment in lieu to the Executive;

     

    (b) Cause. 

     

    "Cause"
      is defined as any of the following: 

    

    (a)
      conviction of, or plea of nolo contendere to, a felony; 

    

    (b)
      participation in a fraud against the Company; 

    

    (c)
      participation in an act of dishonesty against the Company intended to result
      in
      your personal enrichment; 

    

    (d)
      willful material breach of the Company's written policies; 

    

    (e)
      intentional significant damage to the Company's property by you; 

    

    (f)
      material breach of this Agreement; or 

    

    (g)
      conduct by you that, in the good faith and reasonable determination of the
      Board, demonstrates gross unfitness to serve provided that in such event, the
      Company shall provide notice to you describing the nature of the gross unfitness
      and you shall thereafter have ten (10) days to cure such gross unfitness if
      such
      gross unfitness is capable of being cured. 

    

    The
      Company may not terminate your employment for Cause unless and until you receive
      a copy of a resolution duly adopted by the affirmative vote of at least a
      majority of the Board of Directors of the Company ("Board") finding that in
      the
      good faith opinion of the Board, that "Cause" exists and specifying the
      particulars thereof in reasonable detail. 

    

    9.2 Termination
      by the Company without Cause.

     

    The
      Company may terminate the Executive’s employment without Cause at any time by
      providing the Executive with a separation package (the “Separation
      Package”)
      equal
      to two years’ Total Cash Compensation.

    
      
        
        

      

      
        4.

        
          

        

      

      
        
        

      

    

    “Total
      Cash Compensation” is defined as the annualized amount of Base Salary plus Bonus
      Payment for the prior 12-month period.

     

    The
      Separation Package shall be payable in a lump sum within thirty (30) days of
      termination.

     

    9.3 Termination
      by the Executive for Good Reason. 

    

    Should
      the Executive terminate his employment for Good Reason, as hereinafter defined,
      he shall receive the Separation Package set out in section 9.2. Failure of
      the
      Executive to terminate his employment on the occurrence of any event which
      would
      constitute Good Reason shall not constitute waiver of his right under this
      section 9.3. Notwithstanding the foregoing, Executive may terminate his
      employment for Good Reason so long as Executive tenders his resignation to
      the
      Company within thirty (30) days after the occurrence of the event that forms
      the
      basis for the resignation for Good Reason; provided, however, that Executive
      must provide written notice to the Company describing the nature of the event
      that Executive believes forms the basis for the resignation for Good Reason,
      and
      the Company shall thereafter have ten (10) days to cure such event.

    

    “Good
      Reason” is defined as the occurrence of any of the following without the
      Executive’s express written consent:

    

    
      	
            	(a)	
              an
                adverse change in the Executive’s position, titles, duties (including any
                position or duties as a director of the Company) or responsibilities
                (including new, additional or changed formal or informal reporting
                responsibilities) or any failure to re-elect or re-appoint him to
                any such
                positions, titles, duties or offices, except in connection with the
                termination of his employment for
                Cause;

            

    

    

    
      	
            	(b)	
              a
                reduction by the Company of the Executive’s Base Salary except to the
                extent that the annual base salaries of all other executive officers
                of
                the Company are similarly reduced or any change in the basis upon
                which
                the Executive’s annual compensation is determined or paid if the change is
                or will be adverse to the Executive except that an award of annual
                performance bonuses by the Company’s Compensation Committee (and approved
                by the Board of Directors) are discretionary and in no instance shall
                be
                considered adverse to Executive if such performance bonus is reduced
                from
                a prior year or if an annual performance bonus is not
                paid;

            

    

    

    
      	
            	(c)	
              a
                Change in Control (as defined below) of the Company occurs;
                or

            

    

    

    
      	
            	(d)	
              any
                breach by the Company of any material provision of this
                Agreement.

            

    

    

    A
“Change
      in Control” is defined as: 

     

    (a)
      a
      dissolution, liquidation or sale of all or substantially all of the assets
      of
      the Company;

     

    (b)
      a
      merger or consolidation in which the Company is not the surviving
      corporation;

    
      
        
        

      

      
        5.

        
          

        

      

      
        
        

      

    

    (c)
      a
      reverse merger in which the Company is the surviving corporation but the shares
      of the Company’s common stock outstanding immediately preceding the merger are
      converted by virtue of the merger into other property, whether in the form
      of
      securities, cash or otherwise; or 

    

    (d)
      the
      acquisition by any person, entity or group within the meaning of Section 13(d)
      or 14(d) of the Exchange Act, or any comparable successor provisions (excluding
      any employee benefit plan, or related trust, sponsored or maintained by the
      Company or any affiliate of the Company) of the beneficial ownership (within
      the
      meaning of Rule 13d-3 promulgated under the Exchange Act, or comparable
      successor rule) of securities of the Company representing at least fifty percent
      (50%) of the combined voting power entitled to vote in the election of
      directors.

    

    ARTICLE
      10

    DIRECTORS/OFFICERS
      LIABILITY

     

    10.1 Indemnity.

     

    Gran
      Tierra shall provide to the Executive indemnification in accordance with the
      Indemnification Agreement entered into between Gran Tierra and the
      Executive.

     

    10.2 Insurance.

     

    
      	 	
              (a)

            	
              Gran
                Tierra shall purchase and maintain, throughout the period during
                which the
                Executive acts as a director or officer of Gran Tierra or a Member
                Company
                and for a period of two years after the date that the Executive ceases
                to
                act as a director or officer of Gran Tierra or a Member Company,
                directors’ and officers’ liability insurance for the benefit of the
                Executive and the Executive’s heirs, executors, administrators and other
                legal representatives, such that the Executives insurance coverage
                is, at
                all times, at least equal to or better than any insurance coverage
                Gran
                Tierra purchases and maintains for the benefit of its then current
                directors and officers, from time to
                time.

            

    

     

    
      	 	
              (b)

            	
              If
                for any reason whatsoever, any directors’ and officers’ liability insurer
                asserts that the Executive or the Executive’s heirs, executors,
                administrators or other legal representatives are subject to a deductible
                under any existing or future directors’ and officers’ liability insurance
                purchased and maintained by Gran Tierra for the benefit of the Executive
                and the Executive’s heirs, executors, administrators and other legal
                representatives, Gran Tierra shall pay the deductible for and on
                behalf of
                the Executive or the Executive’s heirs, executors, administrators or other
                legal representatives, as the case may
                be.

            

    

     

    
      
        
        

      

      
        6.

        
          

        

      

      
        
        

      

    

    10.3 Survival. 

     

    The
      provisions of sections 10.1 and 10.2 of this Agreement shall survive the
      termination of this Agreement or the employment of the Executive with the
      Company and such provisions shall continue in full force and effect in
      accordance with such Indemnification Agreement and the provisions of this
      Agreement for the benefit of the Executive.

     

    ARTICLE
      11

    NON-COMPETITION
      AND CONFIDENTIALITY

     

    11.1 Non-Competition. 

     

    The
      Executive recognizes and understands that in performing the duties and
      responsibilities of his employment as outlined in this Agreement, he will be
      a
      key employee of the Company and will occupy a position of high fiduciary trust
      and confidence, pursuant to which he has developed and will develop and acquire
      wide experience and knowledge with respect to all aspects of the services and
      businesses carried on by Gran Tierra and its Member Companies and the manner
      in
      which such businesses are conducted. It is the expressed intent and agreement
      of
      the Executive and of the Company that such knowledge and experience shall be
      used solely and exclusively in the furtherance of the business interests of
      Gran
      Tierra and its Member Companies and not in any manner detrimental to them.
      The
      Executive therefore agrees that so long as he is employed by the Company
      pursuant to this Agreement he shall not engage in any practice or business
      in
      competition with the business of Gran Tierra or any of its Member
      Companies.

     

    11.2 Confidentiality. 

     

    The
      Executive further recognizes and understands that in the performance of his
      employment duties and responsibilities as outlined in this Agreement, he will
      be
      a key employee of the Company and will become knowledgeable, aware and possessed
      of all confidential and proprietary information, know-how, data, strategic
      studies, techniques, knowledge and other confidential information of every
      kind
      or character relating to or connected with the business or corporate affairs
      and
      operations of Gran Tierra and its Member Companies and includes, without
      limitation, geophysical studies and data, market data, engineering information,
      shareholder data, client lists, compensation rates and methods and personnel
      information (collectively “Confidential
      Information”)
      concerning the business of Gran Tierra and its Member Companies. The Executive
      therefore agrees that, except with the consent of the Board, he will not
      disclose such Confidential Information to any unauthorized persons so long
      as he
      is employed by the Company pursuant to this Agreement and for a period of 24
      months thereafter; provided that the foregoing shall not apply to any
      Confidential Information which is or becomes known to the public or to the
      competitors of Gran Tierra or its Member Companies other than by a breach of
      this Agreement.

     

    11.3 Following
      Termination of Agreement. 

     

    Subject
      to this provision and without otherwise restricting the fiduciary obligations
      imposed upon, or otherwise applicable to the Executive as a result of the
      Executive having been a senior officer and key employee of the Company, the
      Executive shall not be prohibited from obtaining employment with or otherwise
      forming or participating in a business competitive to the business of the
      Company after termination of this Agreement and the Executive’s employment with
      the Company.

    
      
        
        

      

      
        7.

        
          

        

      

      
        
        

      

    

    ARTICLE
      12

    CHANGES
      TO AGREEMENT

     

    Any
      modifications or amendments to this Agreement must be in writing and signed
      by
      all Parties or else they shall have no force and effect. Notwithstanding the
      foregoing, the Company may assign this agreement to Member Company, without
      the
      consent of the Executive.

     

    ARTICLE
      13

    ENUREMENT

     

    This
      Agreement shall enure to the benefit of and be binding upon the Parties and
      their respective successors and assigns, including without limitation, the
      Executive’s heirs, executors, administrators and personal
      representatives.

     

    ARTICLE
      14

    GOVERNING
      LAW

     

    This
      Agreement shall be construed in accordance with the laws of the Province of
      Alberta and the laws of Canada applicable therein.

     

    ARTICLE
      15

    NOTICES

     

    15.1 Notice
      to Executive. 

     

    Any
      notice required or permitted to be given to the Executive shall be deemed to
      have been received if delivered personally to the Executive or sent by courier
      to the Executive’s home address last known to the Company.

     

    15.2 Notice
      to Company. 

     

    Any
      notice required or permitted to be given to the Company shall be deemed to
      have
      been received if delivered personally to, sent by courier, or sent by facsimile
      to:

     

    Gran
      Tierra Energy Inc.300, 611-10th Avenue S.W.

    Calgary,
      Alberta, Canada T2R 0B2

    Fax:
      (403) 265-3242

    Attn:
      Chief Financial Officer

    
      
        
        

      

      
        8.

        
          

        

      

      
        
        

      

    

    ARTICLE
      16

    WITHHOLDING

     

    All
      payments made by the Company to the Executive or for the benefit of the
      Executive shall be less applicable withholdings and deductions.

     

    ARTICLE
      17

    INDEPENDENT
      LEGAL ADVICE

     

    The
      Executive acknowledges that the Executive has been advised to obtain independent
      legal advice with respect to entering into this Agreement, that he has obtained
      such independent legal advice or has expressly deemed not to seek such advice,
      and that the Executive is entering into this Agreement with full knowledge
      of
      the contents hereof of the Executive’s own free will and with full capacity and
      authority to do so.

     

    ARTICLE
      18

    REPLACEMENT
      OF PRIOR AGREEMENT

    

    The
      Parties acknowledge that the Prior Agreement is hereby replaced in its entirety
      by this Agreement. Pursuant to Article 12 of the Prior Agreement, this Agreement
      shall be effective, and the Prior Agreement shall be terminated, upon the
      execution of this Agreement by the Parties. Upon such execution, all provisions
      of the Prior Agreement are hereby superseded in their entirety and replaced
      herein and shall have no further force or effect.

     

    (remainder
      of page intentionally left blank)

    
      
        
        

      

      
        9.

        
          

        

      

      
        
        

      

    

    In
      Witness Whereof
      the
      Parties have executed this Agreement as of the date set forth below, with an
      effective date as of June 17, 2008.

     

    
      	
              GRAN
                TIERRA ENERGY INC.

            	 	
              GRAN
                TIERRA ENERGY INC.

            
	 	 	 	 	 
	
              By:

            	
              /s/
                Martin H. Eden

            	 	
              By:

            	
              /s/
                Martin H. Eden

            
	 	
              Name:
                Martin H. Eden

            	 	 	
              Name:
                Martin H. Eden

            
	 	
              Title:
                CFO

            	 	 	
              Title:
                CFO

            
	 	 	 	 	 
	
              Date:

            	
              June
                17, 2008

            	 	
              Date:

            	
              June
                17, 2008

            
	 	 	 	 	 
	
              SIGNED,
                SEALED DELIVERED

            	 	 	 
	
              In
                the presence of:

            	 	 	 
	 	 	 	 
	
              /s/
                Sonya Messner

            	 	
              /s/
                Dana Coffield

            
	
              Witness

            	 	
              Dana
                Quentin Coffield

            
	 	 	 
	 	 	
              Date:
                17 June 08

            

    

    
      
        
        

      

      
        10.

        
          

        

      

      
        
        

      

    

    SCHEDULE
      “A”

     

    Duties
      and Responsibilities for President

     

    
      	
              ·

            	
              President
                shall report directly to the Board of
                Directors.

            

    

     

    
      	
              ·

            	
              Strategic
                leadership – formulate and recommend strategies to the Board to maximize
                shareholder value and long-term success of the Company; implement
                capital
                and operating plans; identify principal risks to the Company’s business
                and take appropriate steps to manage these risks; keep the Board
                fully
                informed on all significant operational, financial and other matters
                relevant to the Company.

            

    

     

    
      	
              ·

            	
              Technical
                Leadership – ensure a rigorous and disciplined approach to technical work
                of the Company with regard to geology geophysics and related disciplines;
                encourage technical innovation, imagination and
                pragmatism.

            

    

     

    
      	
              ·

            	
              Financial
                Leadership – develop annual capital commitment and expenditure budgets for
                approval by the Board; develop annual operating forecasts; authorize
                the
                commitment of funds sanctioned by the Board; authorize the commitment
                of
                contracts, transactions and arrangements in the ordinary course of
                business; take reasonable steps to ensure the Company’s assets are
                adequately safeguarded.

            

    

     

    
      	
              ·

            	
              Administrative
                Leadership – develop and maintain a sound and effective organizational
                structure; ensure all members of the organization have clear
                responsibilities.

            

    

     

    
      	
              ·

            	
              Public
                Leadership – maintain effective communications and appropriate
                relationships with shareholders and other stakeholders; manage
                interactions between the Company and the public and act as the principal
                spokesperson for the Company.

            

    

     

    
      	
              ·

            	
              Compliance
                Leadership – establish effective control and coordination mechanisms for
                all operations arid activities of the Company; take reasonable steps
                to
                ensure the safe, efficient operation of the Company and its
                employees/workers ; ensure all operations and activities are in compliance
                with laws, regulations and the Company’s code of business conduct and
                ethics and other policies and practices approved by the Board; foster
                a
                high performance corporate culture that promotes ethical practices
                and
                encourages individual and corporate integrity and
                responsibility.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00146-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00146-of-00352.parquet"}]]