Document:

REGISTRATION
      RIGHTS AGREEMENT

    

    This
      Registration Rights Agreement (this “Agreement”)
      is
      made and entered into as of the ___ day of ________ 2006 (the “Effective
      Date”)
      between Gran Tierra Energy, Inc. f/k/a. Goldstrike, Inc., a Nevada corporation
      (the “Company”),
      and
      the parties set forth on the signature page and Exhibit
      A
      hereto
      (each, a “Purchaser”
and
      collectively, the “Purchasers”).

     

    RECITALS:

     

    WHEREAS,
      the Gran Tierra Energy, Inc., a privately held Canadian company (“Gran Tierra”)
      and Goldstrike, Inc. (“Goldstrike”) have agreed in principle to enter into a
      definitive Agreement of Merger and Plan of Reorganization pursuant to which
      it
      is expected that a newly organized, wholly-owned Canadian subsidiary of
      Goldstrike will merge with and into Gran Tierra (the “Merger”)
      and
      immediately after which (the “Merger Effective
      Date”),
      it is
      currently expected that the Company will change its name to a name determined
      by
      Gran Tierra.

    

    WHEREAS,
      the Merger closed on and the Merger Effective Date is November 10,
      2005.

    

    WHEREAS,
      to facilitate the continuing discussions related to the completion of the Merger
      and to enable the Company to consummate the acquisition of certain interests
      in
      producing properties in Argentina (the “Argentine
      Acquisition”),
      Goldstrike agreed to provide bridge financing to Gran Tierra. The funds required
      to provide such financing were derived by Goldstrike from the proceeds received
      in a private placement offering (“PPO”)
      of
      units consisting of one share of Common Stock and a warrant to purchase 1⁄2 a
      share of Common Stock for an exercise price of $0.625 per one-half share, which
      is exercisable for a five year period from the date of issuance. 

    

    WHEREAS,
      on September 1, 2005 and October 7, 2005, the Company conducted closings on
      the
      PPO and derived proceeds of $9,353,507 from the sale of 11,691,884 units. On
      September 1, 2005, Goldstrike and Gran Tierra completed the bridge financing
      providing for the borrowing of Gran Tierra of up to $8,337,916; Gran Tierra
      borrowed $6,665,198.30 and Gran Tierra consummated the Argentine Acquisition
      for
      a cost of approximately $7,000,000. The proceeds derived from the second closing
      were used to pay sales commissions aggregating $52,178 incurred in connection
      with the PPO and increase the amount available for borrowing by Gran Tierra
      under the bridge financing from $8,337,916 to $9,353,492.

    

    WHEREAS,
      on October 27, 2005, the Company conducted a closing on its second private
      offering and derived proceeds of $1,000,000 from the sale of 1,250,000 units,
      and on November 14, 2005, the Company conducted a second closing on its second
      private offering and derived proceeds of $1,074,578 from the sale of 1,343,222
      units.

     

    WHEREAS,
      the Company is offering pursuant to Rule 506 of Regulation D of the Securities
      Act of 1933, as amended (the “Securities
      Act”),
      to
“accredited investors” (as such term is defined in Rule 501(a) of Regulation D,)
      800,000 units (the “Units”)
      consisting of one share of the Company’s common stock, par value $.001 per share
      (the “Common
      Stock”),
      and a
      warrant exercisable for five years to purchase one-half of a share of Common
      Stock at an exercise price of $.625 per one-half share (the “Investor
      Warrants”)
      at the
      purchase price of $.80 per Unit (the “Offering”).

     

    WHEREAS,
      the Offering terminates on the receipt of acceptable subscriptions representing
      800,000 million Units, or such earlier time as the Company may determine, (the
      “Termination
      Date”),
      or
      such earlier time as the Company may determine, and will close as soon as
      practicable thereafter (the “Offering
      Closing Date”).

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    

     

    WHEREAS,
      the investors in the Offering (the “Investors”),
      in
      connection with their intent to purchase Units in the Offering, shall execute
      and deliver Subscription Agreements (the “Subscription
      Agreements”)
      and
      Investor Questionnaires (the “Investor
      Questionnaires”)
      memorializing the Investors’ agreement to purchase and the Company’s agreement
      to sell the number of Units set forth therein (the “Investor’s
      Units”)
      at the
      purchase price of $0.80 per Unit (the “Purchase
      Price”)
      and
      this Agreement, pursuant to which the Company will provide certain registration
      rights related to the shares of Common Stock underlying the Units and the
      Investor Warrants on the terms set forth herein (the Subscription Agreements,
      Investor Questionnaires and the Registration Rights Agreements are collectively
      referred to as the “Transaction
      Documents”);

    

    NOW,
      THEREFORE,
      in
      consideration of the mutual promises, representations, warranties, covenants,
      and conditions set forth herein, the parties mutually agree as follows:

     

    1. Certain
      Definitions.
      As used
      in this Agreement, the following terms shall have the following respective
      meanings:

     

    “Approved
      Market”
means
      the NASD Over-The-Counter Bulletin Board, the Nasdaq National Market, the Nasdaq
      SmallCap Market, the New York Stock Exchange, Inc. or the American Stock
      Exchange, Inc.

     

    “Blackout
      Period”
means,
      with respect to a registration, a period, in each case commencing on the day
      immediately after the Company notifies the Purchasers that they are required,
      pursuant to Section 4(f), to suspend offers and sales of Registrable Securities
      during which the Company, in the good faith judgment of its Board of Directors,
      determines (because of the existence of, or in anticipation of, any acquisition,
      financing activity, or other transaction involving the Company, or the
      unavailability for reasons beyond the Company’s control of any required
      financial statements, disclosure of information which is in its best interest
      not to publicly disclose, or any other event or condition of similar
      significance to the Company) that the registration and distribution of the
      Registrable Securities to be covered by such registration statement, if any,
      would be seriously detrimental to the Company and its stockholders and ending
      on
      the earlier of (1) the date upon which the material non-public information
      commencing the Blackout Period is disclosed to the public or ceases to be
      material and (2) such time as the Company notifies the selling Holders that
      the
      Company will no longer delay such filing of the Registration Statement,
      recommence taking steps to make such Registration Statement effective, or allow
      sales pursuant to such Registration Statement to resume; provided,
      however,
      that (a)
      the Company shall limit its use of Blackout Periods, in the aggregate, to 30
      Trading Days in any 12-month period and (b) no Blackout Period may commence
      sooner than 60 days after the end of a prior Blackout Period.

     

    “Business
      Day”
means
      any day of the year, other than a Saturday, Sunday, or other day on which the
      Commission is required or authorized to close.

     

    “Closing
      Date”
means
      the Merger Closing Date.

     

    “Commission”
means
      the Securities and Exchange Commission or any other federal agency at the time
      administering the Securities Act.

     

    “Common
      Stock”
means
      the common stock, par value $.001 per share, of the Company and any and all
      shares of capital stock or other equity securities of: (i) the Company which
      are
      added to or exchanged or substituted for the Common Stock by reason of the
      declaration of any stock dividend or stock split, the issuance of any
      distribution or the reclassification, readjustment, recapitalization or other
      such modification of the capital structure of the Company; and (ii) any other
      corporation, now or hereafter organized under the laws of any state or other
      governmental authority, with which the Company is merged, which results from
      any
      consolidation or reorganization to which the Company is a party, or to which
      is
      sold all or substantially all of the shares or assets of the Company, if
      immediately after such merger, consolidation, reorganization or sale, the
      Company or the stockholders of the Company own equity securities having in
      the
      aggregate more than 50% of the total voting power of such other
      corporation.

     

    
      
         

      

      
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    “Exchange
      Act”
means
      the Securities Exchange Act of 1934, as amended, and the rules and regulations
      of the Commission promulgated thereunder.

     

    “Family
      Member”
means
      (a) with respect to any individual, such individual’s spouse, any descendants
      (whether natural or adopted), any trust all of the beneficial interests of
      which
      are owned by any of such individuals or by any of such individuals together
      with
      any organization described in Section 501(c)(3) of the Internal Revenue Code
      of
      1986, as amended, the estate of any such individual, and any corporation,
      association, partnership or limited liability company all of the equity
      interests of which are owned by those above described individuals, trusts or
      organizations and (b) with respect to any trust, the owners of the beneficial
      interests of such trust.

     

    “Holder”
means
      each Purchaser or any of such Purchaser’s respective successors and Permitted
      Assigns who acquire rights in accordance with this Agreement with respect to
      the
      Registrable Securities directly or indirectly from a Purchaser or from any
      Permitted Assignee.

     

    “Investor
      Warrants”
mean
      the warrants issued in relation to the Purchasers purchase of Units in the
      private placement offering.

     

    “Majority
      Holders”
means
      at any time Holders representing a majority of the Registrable
      Securities.

     

    “Permitted
      Assignee”
means
      (a) with respect to a partnership, its partners or former partners in
      accordance with their partnership interests, (b) with respect to a
      corporation, its stockholders in accordance with their interest in the
      corporation, (c) with respect to a limited liability company, its members
      or former members in accordance with their interest in the limited liability
      company, (d) with respect to an individual party, any Family Member of such
      party, (e) an entity that is controlled by, controls, or is under common control
      with a transferor or (f) a party to this Agreement.

     

    “Purchase
      Price”
means
      the Purchase Price per Unit set forth in the Subscription Agreement.

     

    The
      terms
“register,
“
      “registered,
“
and
      “registration”
refer
      to a registration effected by preparing and filing a registration statement
      in
      compliance with the Securities Act, and the declaration or ordering of the
      effectiveness of such registration statement.

     

    “Registrable
      Securities”
means
      the shares of Common Stock issued or issuable to each Purchaser in connection
      with such Purchaser’s purchase of Units pursuant to the Subscription Agreements,
      including the shares of Common Stock issuable on exercise of the Investor
      Warrants issued to the Purchasers in connection with their purchase of Units
      but
      excluding (i) any Registrable Securities that have been publicly sold or may
      be
      sold immediately without registration under the Securities Act either pursuant
      to Rule 144 of the Securities Act or otherwise; (ii) any Registrable Securities
      sold by a person in a transaction pursuant to a registration statement filed
      under the Securities Act or (iii) any Registrable Securities that are at the
      time subject to an effective registration statement under the Securities Act.
      

     

    “Registration
      Default Date”
means
      the date that is 120 days following the Registration Filing Date. 

     

    
      
         

      

      
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    “Registration
      Default Period”
means
      the period following the Registration Default Date during which any Registration
      Event occurs and is continuing.

     

    “Registration
      Event”
means
      the occurrence of any of the following events:

     

    (a) the
      Company fails to file with the Commission the Registration Statement on or
      before the Registration Filing Date (as defined in Section 3(a));

     

    (b) the
      Registration Statement is not declared effective by the Commission on or before
      the Registration Default Date;

     

    (c) after
      the
      SEC Effective Date, sales cannot be made pursuant to the Registration Statement
      for any reason (including without limitation by reason of a stop order, or
      the
      Company’s failure to update the Registration Statement) except as excused
      pursuant to Section 3(a); or

     

    (d) the
      Common Stock generally or the Registrable Securities specifically are not listed
      or included for quotation on an Approved Market, or trading of the Common Stock
      is suspended or halted on the Approved Market, which at the time constitutes
      the
      principal market for the Common Stock, for more than two full, consecutive
      Trading Days; provided, however, a Registration Event shall not be deemed to
      occur if all or substantially all trading in equity securities (including the
      Common Stock) is suspended or halted on the Approved Market for any length
      of
      time.

     

    “Registration
      Filing Date”
means
      the date that is 120 days after the Closing Date.

     

    “Registration
      Statement”
means
      the registration statement that the Company is required to file pursuant to
      this
      Agreement to register the Registrable Securities.

     

    “Rule
      144”
means
      Rule 144 promulgated under the Securities Act. 

     

    “Securities
      Act”
means
      the Securities Act of 1933, as amended, or any similar federal statute
      promulgated in replacement thereof, and the rules and regulations of the
      Commission thereunder, all as the same shall be in effect at the
      time.

     

    “SEC
      Effective Date”
means
      the date the Registration Statement is declared effective by the
      Commission.

     

    “Subscription
      Agreement”
means
      the Subscription Agreement dated as of the date hereof between the Company
      and
      the Purchaser setting forth the terms and conditions of the Company’s offer of
      Units and the Purchaser’s purchase of Units.

     

    “Trading
      Day”
means
      any day on which the national securities exchange, the Nasdaq Stock Market,
      the
      NASD Over the Counter Bulletin Board or such other securities market or
      quotation system, which at the time constitutes the principal securities market
      for the Common Stock, is open for general trading of securities.

     

    “Units”
mean
      the units offered by the Company and purchased by the Purchaser pursuant to
      the
      Subscription Agreement which consist of 1 share of Common Stock and an Investor
      Warrant representing the right of the Purchaser to purchase .5 share of Common
      Stock at the exercise price of $0.625 per .5 share.

     

    
      
         

      

      
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    2. Term.
      This
      Agreement shall continue in full force and effect for a period of two years
      from
      the Effective Date, unless terminated sooner hereunder.

     

    3. Registration.

     

    (a) Registration
      on Form SB-2.
      As
      promptly as reasonably practicable after the date hereof, but in any event
      not
      later than 120 days after the Closing Date (the “Registration
      Filing Date”),
      the
      Company shall file with the Commission a registration statement on Form SB-2,
      or
      other applicable form, relating to the resale by the Holders of all of the
      Registrable Securities, and the Company shall use its commercially reasonable
      best efforts to cause such registration statement to be declared effective
      within 120 days after the Registration Filing Date; provided, however, that
      the
      Company shall not be obligated to effect any such registration, qualification,
      or compliance pursuant to this Section, or keep such registration effective
      pursuant to the terms hereunder: (i) in any particular jurisdiction in which
      the
      Company would be required to qualify to do business as a foreign corporation
      or
      as a dealer in securities under the securities or blue sky laws of such
      jurisdiction or to execute a general consent to service of process in effecting
      such registration, qualification or compliance, in each case where it has not
      already done so or (ii) during any Blackout Period, in which case the
      Registration Filing Date shall be extended to the date immediately following
      the
      last day of such Blackout Period. 

     

    (b) Piggyback
      Registration.
      If the
      Company shall determine to register for sale for cash any of its Common Stock,
      for its own account or for the account of others (other than the Holders),
      other
      than (i) a registration relating solely to employee benefit plans or securities
      issued or issuable to employees, consultants (to the extent the securities
      owned
      or to be owned by such consultants could be registered on Form S-8) or any
      of
      their Family Members (including a registration on Form S-8) or (ii) a
      registration relating solely to a Commission Rule 145 transaction, a
      registration on Form S-4 in connection with a merger, acquisition, divestiture,
      reorganization, or similar event, the Company shall promptly give to the Holders
      written notice thereof (and in no event shall such notice be given less than
      20
      calendar days prior to the filing of such registration statement), and shall,
      subject to Section 3(c), include in such registration (a “Piggyback
      Registration”),
      all
      of the Registrable Securities specified in a written request delivered by the
      Holder within 10 calendar days after receipt of such written notice from the
      Company. However, the Company may, without the consent of the Holders, withdraw
      such registration statement prior to its becoming effective if the Company
      or
      such other stockholders have elected to abandon the proposal to register the
      securities proposed to be registered thereby. 

     

    (c) Underwriting.
      If a
      Piggyback Registration is for a registered public offering involving an
      underwriting, the Company shall so advise the Holders. In such event, the right
      of any Holder to Piggyback Registration shall be conditioned upon such Holder’s
      participation in such underwriting and the inclusion of such Holder’s
      Registrable Securities in the underwriting to the extent provided herein. All
      Holders proposing to include the Registrable Securities they hold through such
      underwriting shall (together with the Company and any other stockholders of
      the
      Company selling their securities through such underwriting) enter into an
      underwriting agreement in customary form with the underwriter selected for
      such
      underwriting by the Company or the selling stockholders, as applicable.
      Notwithstanding any other provision of this Section, if the underwriter or
      the
      Company determines that marketing factors require a limitation of the number
      of
      shares of Common Stock or the amount of other securities to be underwritten,
      the
      underwriter may exclude some or all Registrable Securities from such
      registration and underwriting. The Company shall so advise all Holders (except
      those Holders who failed to timely elect to include their Registrable Securities
      through such underwriting or have indicated to the Company their decision not
      to
      do so), and indicate to each such Holder the number of shares of Registrable
      Securities that may be included in the registration and underwriting, if any.
      The number of shares of Registrable Securities to be included in such
      registration and underwriting shall be allocated among such Holders as follows:
      

     

    
      
         

      

      
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    (i) In
      the
      event of a Piggyback Registration that is initiated by the Company, the number
      of shares that may be included in the registration and underwriting shall be
      allocated first to the Company and then, subject to obligations and commitments
      existing as of the date hereof, to all selling stockholders, including the
      Holders, who have requested to sell in the registration on a pro rata basis
      according to the number of shares requested to be included; and

     

    (ii) In
      the
      event of a Piggyback Registration that is initiated by the exercise of demand
      registration rights by a stockholder or stockholders of the Company (other
      than
      the Holders), then the number of shares that may be included in the registration
      and underwriting shall be allocated first to such selling stockholders who
      exercised such demand and then, subject to obligations and commitments existing
      as of the date hereof, to all other selling stockholders, including the Holders,
      who have requested to sell in the registration, on a pro rata basis according
      to
      the number of shares requested to be included.

     

    No
      Registrable Securities excluded from the underwriting by reason of the
      underwriter’s marketing limitation shall be included in such registration. If
      any Holder disapproves of the terms of any such underwriting, such Holder may
      elect to withdraw their Registrable Securities therefrom by delivery of written
      notice to the Company and the underwriter. The Registrable Securities so
      withdrawn from such underwriting shall also be withdrawn from such registration;
      provided, however, that, if by the withdrawal of such Registrable Securities
      a
      greater number of Registrable Securities held by other Holders may be included
      in such registration (up to the maximum of any limitation imposed by the
      underwriters), then the Company shall offer to all Holders who have included
      Registrable Securities in the registration the right to include additional
      Registrable Securities pursuant to the terms and limitations set forth herein
      in
      the same proportion used above in determining the underwriter limitation.

     

    (d) Other
      Registrations.
      Prior
      to the SEC Effective Date, the Company will not, without the prior written
      consent of the Majority Holders, file or request the acceleration of any other
      registration statement filed with the Commission, and during any time subsequent
      to the SEC Effective Date when the Registration Statement for any reason is
      not
      available for use by any Holder for the resale of any Registrable Securities,
      the Company shall not, without the prior written consent of the Majority
      Holders, file any other registration statement or any amendment thereto with
      the
      Commission under the Securities Act or request the acceleration of the
      effectiveness of any other registration statement previously filed with the
      Commission, other than (i) any registration statement on Form S-8 or Form S-4
      and (ii) any registration statement or amendment which the Company is required
      to file or as to which the Company is required to request acceleration pursuant
      to any obligation in effect on the date of execution and delivery of this
      Agreement.

     

    (e) Failure
      to File Registration Statement.
      If a
      Registration Event occurs, then the Company will make payments to each Purchaser
      (a “Qualified
      Purchaser”),
      as
      partial liquidated damages for the minimum amount of damages to the Qualified
      Purchaser by reason thereof, and not as a penalty, at a rate equal to 1% of
      the
      Purchase Price per share of Registrable Securities then held by a Qualified
      Purchaser monthly, for each calendar month of the Registration Default Period
      (pro rated for any period less than 30 days); provided, however, if a
      Registration Event occurs (or is continuing) on a date more than one-year after
      the Qualified Purchaser acquired the Registrable Securities (and thus the
      one-year holding period under Rule 144(d) has elapsed), liquidated damages
      shall
      be paid only with respect to that portion of the Qualified Purchaser’s
      Registrable Securities that cannot then be immediately resold in reliance on
      Rule 144. Each such payment shall be due and payable within five days after
      the
      end of each calendar month of the Registration Default Period until the
      termination of the Registration Default Period and within five days after such
      termination. Such payments shall be in partial compensation to the Qualified
      Purchaser, and shall not constitute the Qualified Purchaser’s exclusive remedy
      for such events. The Registration Default Period shall terminate upon (i) the
      filing of the Registration Statement in the case of clause (a) of the definition
      of Registration Event, (ii) the SEC Effective Date in the case of clause (b)
      of
      the definition of Registration Event, (iii) the ability of the Qualified
      Purchaser to effect sales pursuant to the Registration Statement in the case
      of
      clause (c) of the definition of Registration Event, (iv) the listing or
      inclusion and/or trading of the Common Stock on an Approved Market, as the
      case
      may be, in the case of clause (d) of the definition of Registration Event,
      and
      (v) in the case of the events described in clauses (b) and (c) of the definition
      of Registration Event, the earlier termination of the Registration Default
      Period. The amounts payable as partial liquidated damages pursuant to this
      paragraph shall be payable in lawful money of the United States. Amounts payable
      as partial liquidated damages to each Qualified Purchaser hereunder with respect
      to each share of Registrable Securities shall cease when the Qualified Purchaser
      no longer holds such shares of Registrable Securities or such shares of
      Registrable Securities can be immediately sold by the Qualified Purchaser in
      reliance on Rule 144. 

     

    
      
         

      

      
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    4. Registration
      Procedures.
      The
      Company will keep each Holder reasonably advised as to the filing and
      effectiveness of the Registration Statement. At its expense with respect to
      the
      Registration Statement, the Company will:

     

    (a) prepare
      and file with the Commission with respect to the Registrable Securities, a
      registration statement on Form SB-2, or any other form for which the Company
      then qualifies or which counsel for the Company shall deem appropriate and
      which
      form shall be available for the sale of the Registrable Securities in accordance
      with the intended methods of distribution thereof, and use its commercially
      reasonable efforts to cause such registration statement to become and remain
      effective at for a period of two years or for such shorter period ending on
      the
      earlier to occur of (i) the sale of all Registrable Securities and (ii) the
      availability under Rule 144(k) for the Holder to sell the Registrable Securities
      (in either case, the “Effectiveness
      Period”);

     

    (b) if
      a
      registration statement is subject to review by the Commission, promptly respond
      to all comments and diligently pursue resolution of any comments to the
      satisfaction of the Commission;

     

    (c) prepare
      and file with the Commission such amendments and supplements to such
      registration statement and the prospectus used in connection therewith as may
      be
      necessary to keep such registration statement effective during the Effectiveness
      Period;

     

    (d) furnish,
      without charge, to each Holder of Registrable Securities covered by such
      registration statement (i) a reasonable number of copies of such registration
      statement (including any exhibits thereto other than exhibits incorporated
      by
      reference), each amendment and supplement thereto as such Holder may reasonably
      request, (ii) such number of copies of the prospectus included in such
      registration statement (including each preliminary prospectus and any other
      prospectus filed under Rule 424 under the Securities Act) as such Holders may
      reasonably request, in conformity with the requirements of the Securities Act,
      and (iii) such other documents as such Holder may require to consummate the
      disposition of the Registrable Securities owned by such Holder, but only during
      the Effectiveness Period;

     

    (e) use
      its
      commercially reasonable best efforts to register or qualify such registration
      under such other applicable securities or blue sky laws of such jurisdictions
      as
      any Holder of Registrable Securities covered by such registration statement
      reasonably requests and as may be necessary for the marketability of the
      Registrable Securities (such request to be made by the time the applicable
      registration statement is deemed effective by the Commission) and do any and
      all
      other acts and things necessary to enable such Holder to consummate the
      disposition in such jurisdictions of the Registrable Securities owned by such
      Holder; provided, however, that the Company shall not be required to (i) qualify
      generally to do business in any jurisdiction where it would not otherwise be
      required to qualify but for this paragraph, (ii) subject itself to taxation
      in
      any such jurisdiction, or (iii) consent to general service of process in any
      such jurisdiction;

     

    
      
         

      

      
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    (f) as
      promptly as practicable after becoming aware of such event, notify each Holder
      of Registrable Securities, the disposition of which requires delivery of a
      prospectus relating thereto under the Securities Act, of the happening of any
      event, which comes to the Company’s attention, that will after the occurrence of
      such event cause the prospectus included in such registration statement, if
      not
      amended or supplemented, to contain an untrue statement of a material fact
      or an
      omission to state a material fact required to be stated therein or necessary
      to
      make the statements therein not misleading and the Company shall promptly
      thereafter prepare and furnish to such Holder a supplement or amendment to
      such
      prospectus (or prepare and file appropriate reports under the Exchange Act)
      so
      that, as thereafter delivered to the purchasers of such Registrable Securities,
      such prospectus shall not contain an untrue statement of a material fact or
      omit
      to state any material fact required to be stated therein or necessary to make
      the statements therein not misleading, unless suspension of the use of such
      prospectus otherwise is authorized herein or in the event of a Blackout Period,
      in which case no supplement or amendment need be furnished (or Exchange Act
      filing made) until the termination of such suspension or Blackout Period;

     

    (g) comply,
      and continue to comply during the Effectiveness Period, in all material respects
      with the Securities Act and the Exchange Act and with all applicable rules
      and
      regulations of the Commission with respect to the disposition of all securities
      covered by such registration statement;

     

    (h) as
      promptly as practicable after becoming aware of such event, notify each Holder
      of Registrable Securities being offered or sold pursuant to the Registration
      Statement of the issuance by the Commission of any stop order or other
      suspension of effectiveness of the Registration Statement;

     

    (i) use
      its
      best efforts to cause all the Registrable Securities covered by the Registration
      Statement to be quoted on the NASD OTC Bulletin Board or such other principal
      securities market on which securities of the same class or series issued by
      the
      Company are then listed or traded; 

     

    (j) provide
      a
      transfer agent and registrar, which may be a single entity, for the shares
      of
      Common Stock at all times;

     

    (k) cooperate
      with the Holders of Registrable Securities being offered pursuant to the
      Registration Statement to issue and deliver, or cause its transfer agent to
      issue and deliver, certificates representing Registrable Securities to be
      offered pursuant to the Registration Statement within a reasonable time after
      the delivery of certificates representing the Registrable Securities to the
      transfer agent or the Company, as applicable, and enable such certificates
      to be
      in such denominations or amounts as the Holders may reasonably request and
      registered in such names as the Holders may request;

     

    (l) during
      the Effectiveness Period, refrain from bidding for or purchasing any Common
      Stock or any right to purchase Common Stock or attempting to induce any person
      to purchase any such security or right if such bid, purchase or attempt would
      in
      any way limit the right of the Holders to sell Registrable Securities by reason
      of the limitations set forth in Regulation M under the Exchange Act;
      and

     

    (m) take
      all
      other reasonable actions necessary to expedite and facilitate the disposition
      by
      the Holders of the Registrable Securities pursuant to the Registration
      Statement.

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    

     

    5. Suspension
      of Offers and Sales.
      Each
      Holder agrees that, upon receipt of any notice from the Company of the happening
      of any event of the kind described in Section 4(f) hereof or of the commencement
      of an Blackout Period, such Holder shall discontinue the disposition of
      Registrable Securities included in the Registration Statement until such
      Holder’s receipt of the copies of the supplemented or amended prospectus
      contemplated by Section 4(f) hereof or notice of the end of the Blackout Period,
      and, if so directed by the Company, such Holder shall deliver to the Company
      (at
      the Company’s expense) all copies (including, without limitation, any and all
      drafts), other than permanent file copies, then in such Holder’s possession, of
      the prospectus covering such Registrable Securities current at the time of
      receipt of such notice.

     

    6. Registration
      Expenses.
      The
      Company shall pay all expenses in connection with any registration obligation
      provided herein, including, without limitation, all registration, filing, stock
      exchange fees, printing expenses, all fees and expenses of complying with
      securities or blue sky laws, and the fees and disbursements of counsel for
      the
      Company and of its independent accountants; provided that, in any underwritten
      registration, each party shall pay for its own underwriting discounts and
      commissions and transfer taxes. Except as provided in this Section and Section
      9, the Company shall not be responsible for the expenses of any attorney or
      other advisor employed by a Holder.

     

    7. Assignment
      of Rights.
      No
      Holder may assign its rights under this Agreement to any party without the
      prior
      written consent of the Company; provided, however, that a Holder may assign
      its
      rights under this Agreement without such consent to a Permitted Assignee as
      long
      as (a) such transfer or assignment is effected in accordance with applicable
      securities laws; (b) such transferee or assignee agrees in writing to become
      subject to the terms of this Agreement; and (c) the Company is given written
      notice by such Holder of such transfer or assignment, stating the name and
      address of the transferee or assignee and identifying the Registrable Securities
      with respect to which such rights are being transferred or
      assigned.

     

    8. Information
      by Holder.
      Holders
      included in any registration shall furnish to the Company such information
      as
      the Company may reasonable request in writing regarding such Holders and the
      distribution proposed by such Holders.

     

    9. Indemnification.

     

    (a) In
      the
      event of the offer and sale of Registrable Securities under the Securities
      Act,
      the Company shall, and hereby does, indemnify and hold harmless, to the fullest
      extent permitted by law, each Holder, its directors, officers, partners, each
      other person who participates as an underwriter in the offering or sale of
      such
      securities, and each other person, if any, who controls or is under common
      control with such Holder or any such underwriter within the meaning of Section
      15 of the Securities Act, against any losses, claims, damages or liabilities,
      joint or several, and expenses to which the Holder or any such director,
      officer, partner or underwriter or controlling person may become subject under
      the Securities Act or otherwise, insofar as such losses, claims, damages,
      liabilities or expenses (or actions or proceedings, whether commenced or
      threatened, in respect thereof) arise out of or are based upon any untrue
      statement of any material fact contained in any registration statement prepared
      and filed by the Company under which shares of Registrable Securities were
      registered under the Securities Act, any preliminary prospectus, final
      prospectus or summary prospectus contained therein, or any amendment or
      supplement thereto, or any omission to state therein a material fact required
      to
      be stated therein or necessary to make the statements therein in light of the
      circumstances in which they were made not misleading, and the Company shall
      reimburse the Holder, and each such director, officer, partner, underwriter
      and
      controlling person for any legal or any other expenses reasonably incurred
      by
      them in connection with investigating, defending or settling any such loss,
      claim, damage, liability, action or proceeding; provided that the Company shall
      not be liable in any such case (i) to the extent that any such loss, claim,
      damage, liability (or action or proceeding in respect thereof) or expense arises
      out of or is based upon an untrue statement in or omission from such
      registration statement, any such preliminary prospectus, final prospectus,
      summary prospectus, amendment or supplement in reliance upon and in conformity
      with written information furnished to the Company through an instrument duly
      executed by or on behalf of such Holder specifically stating that it is for
      use
      in the preparation thereof or (ii) if the person asserting any such loss, claim,
      damage, liability (or action or proceeding in respect thereof) who purchased
      the
      Registrable Securities that are the subject thereof did not receive a copy
      of an
      amended preliminary prospectus or the final prospectus (or the final prospectus
      as amended or supplemented) at or prior to the written confirmation of the
      sale
      of such Registrable Securities to such person because of the failure of such
      Holder or underwriter to so provide such amended preliminary or final prospectus
      and the untrue statement or omission of a material fact made in such preliminary
      prospectus was corrected in the amended preliminary or final prospectus (or
      the
      final prospectus as amended or supplemented). Such indemnity shall remain in
      full force and effect regardless of any investigation made by or on behalf
      of
      the Holders, or any such director, officer, partner, underwriter or controlling
      person and shall survive the transfer of such shares by the Holder.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    

     

    (b) As
      a
      condition to including Registrable Securities in any registration statement
      filed pursuant to this Agreement, each Holder agrees to be bound by the terms
      of
      this Section 9 and to indemnify and hold harmless, to the fullest extent
      permitted by law, the Company, its directors and officers, and each other
      person, if any, who controls the Company within the meaning of Section 15 of
      the
      Securities Act, against any losses, claims, damages or liabilities, joint or
      several, to which the Company or any such director or officer or controlling
      person may become subject under the Securities Act or otherwise, insofar as
      such
      losses, claims, damages or liabilities (or actions or proceedings, whether
      commenced or threatened, in respect thereof) that arises out of or is based
      upon
      an untrue statement in or omission from such registration statement, any such
      preliminary prospectus, final prospectus, summary prospectus, amendment or
      supplement in reliance upon and in conformity with written information furnished
      to the Holder through an instrument duly executed by or on behalf of the Company
      specifically stating that it is for use in the preparation thereof, and such
      Holder shall reimburse the Company, and each such director, officer, and
      controlling person for any legal or other expenses reasonably incurred by them
      in connection with investigating, defending, or settling and such loss, claim,
      damage, liability, action, or proceeding; provided, however, that such indemnity
      agreement found in this Section 9 shall in no event exceed the gross proceeds
      from the offering received by such Holder. Such indemnity shall remain in full
      force and effect, regardless of any investigation made by or on behalf of the
      Company or any such director, officer or controlling person and shall survive
      the transfer by any Holder of such shares.

     

    (c) Promptly
      after receipt by an indemnified party of notice of the commencement of any
      action or proceeding involving a claim referred to in this Section (including
      any governmental action), such indemnified party shall, if a claim in respect
      thereof is to be made against an indemnifying party, give written notice to
      the
      indemnifying party of the commencement of such action; provided that the failure
      of any indemnified party to give notice as provided herein shall not relieve
      the
      indemnifying party of its obligations under this Section, except to the extent
      that the indemnifying party is actually prejudiced by such failure to give
      notice. In case any such action is brought against an indemnified party, unless
      in the reasonable judgment of counsel to such indemnified party a conflict
      of
      interest between such indemnified and indemnifying parties may exist or the
      indemnified party may have defenses not available to the indemnifying party
      in
      respect of such claim, the indemnifying party shall be entitled to participate
      in and to assume the defense thereof, with counsel reasonably satisfactory
      to
      such indemnified party and, after notice from the indemnifying party to such
      indemnified party of its election so to assume the defense thereof, the
      indemnifying party shall not be liable to such indemnified party for any legal
      or other expenses subsequently incurred by the latter in connection with the
      defense thereof, unless in such indemnified party’s reasonable judgment a
      conflict of interest between such indemnified and indemnifying parties arises
      in
      respect of such claim after the assumption of the defenses thereof or the
      indemnifying party fails to defend such claim in a diligent manner, other than
      reasonable costs of investigation. Neither an indemnified nor an indemnifying
      party shall be liable for any settlement of any action or proceeding effected
      without its consent. No indemnifying party shall, without the consent of the
      indemnified party, consent to entry of any judgment or enter into any
      settlement, which does not include as an unconditional term thereof the giving
      by the claimant or plaintiff to such indemnified party of a release from all
      liability in respect of such claim or litigation. Notwithstanding anything
      to
      the contrary set forth herein, and without limiting any of the rights set forth
      above, in any event any party shall have the right to retain, at its own
      expense, counsel with respect to the defense of a claim.

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    

     

    (d) In
      the
      event that an indemnifying party does or is not permitted to assume the defense
      of an action pursuant to Sections 9(c) or in the case of the expense
      reimbursement obligation set forth in Sections 9(a) and (b), the indemnification
      required by Sections 9(a) and (b) hereof shall be made by periodic payments
      of
      the amount thereof during the course of the investigation or defense, as and
      when bills received or expenses, losses, damages, or liabilities are
      incurred.

     

    (e) If
      the
      indemnification provided for in this Section is held by a court of competent
      jurisdiction to be unavailable to an indemnified party with respect to any
      loss,
      liability, claim, damage or expense referred to herein, the indemnifying party,
      in lieu of indemnifying such indemnified party hereunder, shall (i) contribute
      to the amount paid or payable by such indemnified party as a result of such
      loss, liability, claim, damage or expense as is appropriate to reflect the
      proportionate relative fault of the indemnifying party on the one hand and
      the
      indemnified party on the other (determined by reference to, among other things,
      whether the untrue or alleged untrue statement of a material fact or omission
      relates to information supplied by the indemnifying party or the indemnified
      party and the parties’ relative intent, knowledge, access to information and
      opportunity to correct or prevent such untrue statement or omission), or (ii)
      if
      the allocation provided by clause (i) above is not permitted by applicable
      law
      or provides a lesser sum to the indemnified party than the amount hereinafter
      calculated, not only the proportionate relative fault of the indemnifying party
      and the indemnified party, but also the relative benefits received by the
      indemnifying party on the one hand and the indemnified party on the other,
      as
      well as any other relevant equitable considerations. No indemnified party guilty
      of fraudulent misrepresentation (within the meaning of Section 11(f) of the
      Securities Act) shall be entitled to contribution from any indemnifying party
      who was not guilty of such fraudulent misrepresentation.

     

    (f) Other
      Indemnification.
      Indemnification similar to that specified in this Section (with appropriate
      modifications) shall be given by the Company and each Holder of Registrable
      Securities with respect to any required registration or other qualification
      of
      securities under any federal or state law or regulation or governmental
      authority other than the Securities Act.

     

    10. Rule
      144.
      For
      a
      period of at least 24 months following the Closing Date,
      the
      Company will use its commercially reasonable best efforts to timely file all
      reports required to be filed by the Company after the date hereof under the
      Securities Act and the Exchange Act and the rules and regulations adopted by
      the
      Commission thereunder, and if the Company is not required to file reports
      pursuant to such sections, it will prepare and furnish to the Purchasers and
      make publicly available in accordance with Rule 144(c) such information as
      is
      required for the Purchasers to sell shares of Common Stock under Rule
      144.

     

    11. Independent
      Nature of Each Purchaser’s Obligations and Rights.
      The
      obligations of each Purchaser under this Agreement are several and not joint
      with the obligations of any other Purchaser, and each Purchaser shall not be
      responsible in any way for the performance of the obligations of any other
      Purchaser under this Agreement. Nothing contained herein and no action taken
      by
      any Purchaser pursuant hereto, shall be deemed to constitute such Purchasers
      as
      a partnership, an association, a joint venture, or any other kind of entity,
      or
      create a presumption that the Purchasers are in any way acting in concert or
      as
      a group with respect to such obligations or the transactions contemplated by
      this Agreement. Each Purchaser shall be entitled to independently protect and
      enforce its rights, including without limitation the rights arising out of
      this
      Agreement, and it shall not be necessary for any other Purchaser to be joined
      as
      an additional party in any proceeding for such purpose.

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    

     

    12. Miscellaneous.

     

    (a) Governing
      Law.
      This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of New York and the United States of America, both substantive and
      remedial. Any
      judicial proceeding brought against either of the parties to this agreement
      or
      any dispute arising out of this Agreement or any matter related hereto shall
      be
      brought in the courts of the State of New York, New York County, or in the
      United States District Court for the Southern District of New York and, by
      its
      execution and delivery of this agreement, each party to this Agreement accepts
      the jurisdiction of such courts. The foregoing consent to jurisdiction shall
      not
      be deemed to confer rights on any person other than the parties to this
      Agreement.

     

    (b) Successors
      and Assigns.
      Except
      as otherwise provided herein, the provisions hereof shall inure to the benefit
      of, and be binding upon, the successors, Permitted Assigns, executors and
      administrators of the parties hereto. In the event the Company merges with,
      or
      is otherwise acquired by, a direct or indirect subsidiary of a publicly traded
      company, the Company shall condition the merger or acquisition on the assumption
      by such parent company of the Company’s obligations under this Agreement.

     

    (c) Entire
      Agreement.
      This
      Agreement constitutes the full and entire understanding and agreement between
      the parties with regard to the subjects hereof.

     

    (d) Notices,
      etc.
      All
      notices or other communications which are required or permitted under this
      Agreement shall be in writing and sufficient if delivered by hand, by facsimile
      transmission, by registered or certified mail, postage pre-paid, by electronic
      mail, or by courier or overnight carrier, to the persons at the addresses set
      forth below (or at such other address as may be provided hereunder), and shall
      be deemed to have been delivered as of the date so delivered: 

     

    if
      to the
      Company to:

    

    Gran
      Tierra Energy, Inc.

    Tenth
      Floor

    10-8th
      Avenue
      S.W.

    Calgary,
      Alberta

    Canada
      T2P 1G5

    Telephone
      number (403) 537-7453

    

    If
      to the
      Purchasers:  

    

    To
      each
      Purchaser at the address

    set
      forth
      on Exhibit A

    

    or
      at
      such other address as any party shall have furnished to the other parties in
      writing.

     

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    

     

    (e) Delays
      or Omissions.
      No
      delay or omission to exercise any right, power or remedy accruing to any Holder,
      upon any breach or default of the Company under this Agreement, shall impair
      any
      such right, power or remedy of such Holder nor shall it be construed to be
      a
      waiver of any such breach or default, or an acquiescence therein, or of or
      in
      any similar breach or default thereunder occurring; nor shall any waiver of
      any
      single breach or default be deemed a waiver of any other breach or default
      theretofore or thereafter occurring. Any waiver, permit, consent or approval
      of
      any kind or character on the part of any Holder of any breach or default under
      this Agreement, or any waiver on the part of any Holder of any provisions or
      conditions of this Agreement, must be in writing and shall be effective only
      to
      the extent specifically set forth in such writing. All remedies, either under
      this Agreement, or by law or otherwise afforded to any holder, shall be
      cumulative and not alternative.

     

    (f) Counterparts.
      This
      Agreement may be executed in any number of counterparts, each of which shall
      be
      enforceable against the parties actually executing such counterparts, and all
      of
      which together shall constitute one instrument. In the event that any signature
      is delivered by facsimile transmission, such signature shall create a valid
      and
      binding obligation of the party executing (or on whose behalf such signature
      is
      executed) with the same force and effect as if such facsimile signature page
      were an original thereof.

     

    (g) Severability.
      In the
      case any provision of this Agreement shall be invalid, illegal or unenforceable,
      the validity, legality and enforceability of the remaining provisions shall
      not
      in any way be affected or impaired thereby.

     

    (h) Amendments.
      The
      provisions of this Agreement may be amended at any time and from time to time,
      and particular provisions of this Agreement may be waived, with and only with
      an
      agreement or consent in writing signed by the Company and the Majority Holders.
      The Purchasers acknowledge that by the operation of this Section, the Majority
      Holders may have the right and power to diminish or eliminate all rights of
      the
      Purchasers under this Agreement.

     

    (i) Limitation
      on Subsequent Registration Rights.
      After
      the date of this Agreement, the Company shall not, without the prior written
      consent of the Majority Holders, enter into any agreement with any holder or
      prospective holder of any securities of the Company that would grant such holder
      registration rights senior to those granted to the Holders
      hereunder.

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    [SIGNATURE
      PAGES FOLLOW]

     

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    This
      Registration Rights Agreement is hereby executed as of the date first above
      written.

     

    
      	 	
              COMPANY:

               

            
	 	
              Gran
                Tierra Energy, Inc.

               

               

            
	 	
              By:_____________________________

            
	 	
              Name:___________________________

            
	 	
              Its:______________________________

            

    

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    [SIGNATURE
      PAGE OF PURCHASER FOLLOWS]

     

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    

     

    This
      Registration Rights Agreement is hereby executed as of the date first above
      written.

     

    

     

     

    

    
      	 	PURCHASER:
	 	 
	 	
               

            
	 	 
	 	
              (Print
                Name)

            
	 	 
	 	 

    

    
      	 	
              By:

            	 
	 	 
	 	
              Name:

            	 
	 	 
	 	
              Its:

            	 
	 	 

    

    

    

    
      
         

      

      
        15

        
          

        

      

      
         

        
          

        

      

    

    

    

    Exhibit
      A

     

    Purchasers

     

    

    
      	
              Purchaser
                Name

            	
              Purchaser
                Address

            	
              Number
                of SharesSUBSCRIPTION
      AGREEMENT

     

    THIS
      SUBSCRIPTION AGREEMENT (the “Agreement”)
      is made
      as of this ___ day of ________, 2006, between Gran Tierra Energy, Inc. f/k/a.
      Goldstrike, Inc., a Nevada corporation (the “Company”),
      and
      the investor identified on the signature page to this Agreement (the
      “Investor”).

     

    RECITALS:

    

    WHEREAS,
      the Gran Tierra Energy, Inc., a privately held Canadian company (“Gran Tierra”)
      and Goldstrike, Inc. (“Goldstrike”) have agreed in principle to enter into a
      definitive Agreement of Merger and Plan of Reorganization pursuant to which
      it
      is expected that a newly organized, wholly-owned Canadian subsidiary of
      Goldstrike will merge with and into Gran Tierra (the “Merger”)
      and
      immediately after which (the “Merger Effective
      Date”),
      it is
      currently expected that the Company will change its name to a name determined
      by
      Gran Tierra.

    

    WHEREAS,
      the Merger closed on and the Merger Effective Date is November 10,
      2005.

    

    WHEREAS,
      to facilitate the continuing discussions related to the completion of the Merger
      and to enable the Company to consummate the acquisition of certain interests
      in
      producing properties in Argentina (the “Argentine
      Acquisition”),
      Goldstrike agreed to provide bridge financing to Gran Tierra. The funds required
      to provide such financing were derived by Goldstrike from the proceeds received
      in a private placement offering (“PPO”)
      of
      units consisting of one share of Common Stock and a warrant to purchase 1⁄2 a
      share of Common Stock for an exercise price of $0.625 per one-half share, which
      is exercisable for a five year period from the date of issuance. 

    

    WHEREAS,
      on September 1, 2005 and October 7, 2005, the Company conducted closings on
      the
      PPO and derived proceeds of $9,353,507 from the sale of 11,691,884 units. On
      September 1, 2005, Goldstrike and Gran Tierra completed the bridge financing
      providing for the borrowing of Gran Tierra of up to $8,337,916; Gran Tierra
      borrowed $6,665,198.30 and Gran Tierra consummated the Argentine Acquisition
      for
      a cost of approximately $7,000,000. The proceeds derived from the second closing
      were used to pay sales commissions aggregating $52,178 incurred in connection
      with the PPO and increase the amount available for borrowing by Gran Tierra
      under the bridge financing from $8,337,916 to $9,353,492.

    

    WHEREAS,
      on October 27, 2005, the Company conducted a closing on its second private
      offering and derived proceeds of $1,000,000 from the sale of 1,250,000 units,
      and on November 14, 2005, the Company conducted a second closing on its second
      private offering and derived proceeds of $1,074,578 from the sale of 1,343,222
      units.

     

    WHEREAS,
      the Company is offering pursuant to Rule 506 of Regulation D of the Securities
      Act of 1933, as amended (the “Securities
      Act”),
      to
“accredited investors” (as such term is defined in Rule 501(a) of Regulation D,)
      800,000 units (the “Units”)
      consisting of one share of the Company’s common stock, par value $.001 per share
      (the “Common
      Stock”),
      and a
      warrant exercisable for five years to purchase one-half of a share of Common
      Stock at an exercise price of $.625 per one-half share (the “Investor
      Warrants”)
      at the
      purchase price of $.80 per Unit (the “Offering”).

    

    WHEREAS,
      the Investor desires to subscribe for, purchase and acquire from the Company
      and
      the Company desires to sell and issue to the Investor the number of Units,
      set
      forth on the signature page of this Agreement (the “Investor’s
      Units”)
      upon
      the terms and conditions and subject to the provisions hereinafter set
      forth.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    WHEREAS,
      in connection with the purchase of the Investor’s Units, the Company and the
      Investor will execute a Registration Rights Agreement dated as of the same
      date
      as this Agreement pursuant to which the Company will provide certain
      registration rights to the Investor (the “Registration
      Rights Agreement”).
      

     

    WHEREAS,
      The Company and McGuireWoods LLP (the “Escrow
      Agent”)
      have
      entered into an Escrow Agreement (the “Escrow
      Agreement”)
      to
      provide for the safekeeping of funds received and documents executed in
      connection with the Offering.

     

    NOW,
      THEREFORE, for and in consideration of the mutual premises contained herein
      and
      for other good and valuable consideration, the receipt and sufficiency of which
      are hereby acknowledged, the parties hereto agree as follows:

     

    1. Purchase
      and Sale of the Units.
      Subject
      to the terms and conditions of this Agreement and the satisfaction of the
      Closing Conditions, the Investor subscribes for and agrees to purchase and
      acquire from the Company and the Company agrees to sell and issue to the
      Investor the Investor’s Units at the purchase price of $0.80 per Unit (the
“Purchase
      Price”).
      

     

    2. The
      Closing.
      The
      Offering will terminate on the receipt of acceptable subscriptions representing
      800,000 Units, or such earlier time as the Company may determine, (the
“Termination
      Date”)
      and
      will close as soon as practicable thereafter (the “Closing
      Date”)
      at the
      offices of the Escrow Agent. On the Closing Date, the Escrow Agent shall deliver
      the funds and Transaction Documents (as defined herein) held in escrow as of
      the
      Closing Date pursuant to the terms of the Escrow Agreement. As soon as
      practicable after the Closing Date, the Company shall issue and deliver, or
      shall cause the issuance and delivery of, a stock certificate, registered in
      the
      name of the Investor and representing the shares of Common Stock underlying
      the
      Investor’s Units and a warrant registered in the name of the Investor
      representing the Investor’s right to purchase the number of shares of Common
      Stock underlying the Investor’s Units. 

     

    3. Subscription
      Procedure.
      To
      complete a subscription for Units, the Investor must fully comply with the
      subscription procedure provided in this Section on or before 5:00 p.m. eastern
      time on the Termination Date. 

     

    (a) Transaction
      Documents.
      Prior
      to 5:00 p.m. eastern time on the Termination Date, the Investor shall review,
      complete and execute this Agreement, the Investor Questionnaire attached hereto
      as Appendix A and the Registration Rights Agreement and deliver such agreements
      and questionnaire to the Escrow Agent at the address provided below. Executed
      agreements and questionnaire may be delivered to the Escrow Agent by facsimile
      using the facsimile number provided below if the Investor immediately thereafter
      confirms receipt of such transmission with the Escrow Agent and delivers the
      original copies of the agreements and questionnaire to the Escrow Agent as
      soon
      as practicable thereafter.

     

    Escrow
      Agent - Mailing Address and Facsimile Number:

    

    McGuireWoods
      LLP

    50
      North
      Laura Street

    Suite
      3300

    Jacksonville,
      Florida 32259

    Facsimile
      Number: (904) 798-3268

    Attention:
      Patricia Neuman

    Telephone
      Number: (904) 798-2627

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    (b) Purchase
      Price.
      Simultaneously with the delivery of the Transaction Documents to the Escrow
      Agent as provided herein, and in any event on or prior to 5:00 p.m. eastern
      time
      on the Termination Date, the Investor shall deliver to the Escrow Agent the
      full
      Purchase Price for the Investor’s Units by wire transfer of immediately
      available funds pursuant to wire transfer instructions provided
      below:

     

    Escrow
      Agent - Wire Transfer Instructions:

    

    BANK
      OF
      AMERICA - Jacksonville, FL

    ABA:
      026009593 (Domestic Wires)

    Swift
      Code: BOFAUS3N (International Wires)

    Credit:
      McGuireWoods LLP IOLTA Account

    Account
      Number: 2101206537

    Reference:
      Louis Zehil - Gran Tierra Escrow - 2046112-0001

    

    McGuireWoods
      Accounting Contact: Julie Aaron (804) 775-1224

    Bank
      Contact: Patrick Comia (888) 841-8159, Opt. 2, Ext. 2160

    

    (c) Purchaser
      Representative.
      If the
      Investor has retained the services of a purchaser representative to assist
      in
      evaluating the merits and risks associated with investing in the Units, the
      Investor must deliver along with the Transaction Documents a purchaser
      representative certificate in a form acceptable to the Company. 

     

    4. Representations
      and Warranties of the Company.
      In
      order to induce the Investor to enter into this Agreement, the Company
      represents and warrants to the Investor the following:

     

    (a) Authority.
      The
      Company is a corporation duly organized, validly existing, and in good standing
      under the laws of the state of Nevada, and has all requisite right, power,
      and
      authority to execute, deliver and perform this Agreement.

     

    (b) Subsidiaries.
      The
      Company has no direct or indirect subsidiaries (each a “Subsidiary”
      and
      collectively the “Subsidiaries”)
      other
      than those set forth in the Exchange Act Documents (as defined in Section 3(f)).
      Except as disclosed in the Exchange Act Documents, the Company owns, directly
      or
      indirectly, all of the capital stock of each Subsidiary free and clear of any
      and all liens, and all the issued and outstanding shares of capital stock of
      each Subsidiary are validly issued and are fully paid, non-assessable and free
      of preemptive and similar rights. 

     

    (c) Enforceability.
      The
      execution, delivery, and performance of this Agreement by the Company have
      been
      duly authorized by all requisite corporate action. This Agreement has been
      duly
      executed and delivered by the Company, and, upon its execution by the Investor,
      shall constitute the legal, valid, and binding obligation of the Company,
      enforceable in accordance with its terms, except to the extent that its
      enforceability is limited by bankruptcy, insolvency, reorganization, or other
      laws relating to or affecting the enforcement of creditors’ rights generally and
      by general principles of equity.

     

    (d) No
      Violations.
      The
      execution, delivery, and performance of this Agreement by the Company does
      not,
      and will not, violate or conflict with any provision of the Company’s
      Certificate of Incorporation or Bylaws, or other charter documents, and does
      not
      and will not, with or without the passage of time or the giving of notice,
      result in the breach of, or constitute a default, cause the acceleration of
      performance, or require any consent under, or result in the creation of any
      lien, charge or encumbrance upon any property or assets of the Company, pursuant
      to, any material instrument or agreement to which the Company, is a party or
      by
      which the Company, or its properties are bound.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    (e) Capitalization.
      The
      authorized capital stock of the Company consists of: 75,000,000
      shares
      of Common Stock, of which as of June 30, 2005, 3,300,000 shares were issued
      and
      outstanding.
      Upon
      issuance in accordance with the terms of this Agreement against payment of
      the
      Purchase Price therefore, the shares of Common Stock underlying the Investor’s
      Units will be duly and validly issued, fully paid, and nonassessable and free
      and clear of all liens imposed by or through the Company, and, assuming the
      accuracy of the representations and warranties of the Investor and all other
      purchasers of Units in the Offering, will be issued in accordance with a valid
      exemption from the registration or qualification provisions of the Securities
      Act, and any applicable state securities laws (the “State
      Acts”).
      

     

    (f) Exchange
      Act Filing.
      Other
      than with respect to the quarterly reports on Form 10-QSB for the six months
      ended June 30, 2005, during the 12 calendar months immediately preceding the
      date of this Agreement, all reports and statements required to be filed by
      the
      Company with the Securities and Exchange Commission (the “Commission”)
      under
      the Securities Exchange Act of 1934, as amended (the “Exchange
      Act”),
      and
      the rules and regulations thereunder, have been timely filed. Such filings,
      together with all documents incorporated by reference therein, are referred
      to
      as “Exchange
      Act Documents.”
      Each
      Exchange Act Document, as amended, conformed in all material respects to the
      requirements of the Exchange Act and the rules and regulations thereunder,
      and
      no Exchange Act Document, as amended, at the time each such document was filed,
      included any untrue statement of a material fact or omitted to state any
      material fact required to be stated therein or necessary to make the statements
      therein, in light of the circumstances under which they were made, not
      misleading.

     

    (g) Company
      Financial Statements. The
      audited financial statements, together with the related notes of the Company
      at
      December 31. 2004, included in the Company’s Annual Report on Form 10-KSB for
      the fiscal year ended December 31, 2004 as filed with the Commission, and the
      unaudited financial statements of the Company at June 30, 2005, for the six
      months then ended, (collectively, the “Company
      Financial Statements”)
      included in the Company’s Quarterly Report on Form 10-QSB, fairly present in all
      material respects, on the basis stated therein and on the date thereof, the
      financial position of the Company at the respective dates therein specified
      and
      its results of operations and cash flows for the periods then ended (provided
      that the unaudited financial statements are subject to normal year-end audit
      adjustments and lack footnotes and other presentation items). Such statements
      and related notes have been prepared in accordance with generally accepted
      accounting principles in the United States applied on a consistent basis except
      as expressly noted therein.

     

    (h) No
      Material Liabilities.
      Except
      for liabilities or obligations not individually in excess of $100,000, and
      as
      set forth in the Exchange Act Documents, since June 30, 2005, the Company has
      not incurred any material liabilities or obligations, direct or contingent,
      except in the ordinary course of business and except for liabilities or
      obligations reflected or reserved against on the Company’s balance sheet as of
      June 30, 2005, and there has not been any change, or to the knowledge of the
      Company, development or effect (individually or in the aggregate) that is or
      is
      reasonably likely to be, materially adverse to the condition (financial or
      otherwise), business, prospects, or results of operations of the Company and
      the
      Subsidiaries considered as a whole (a “Material
      Adverse Effect”)
      or any
      change in the capital or material increase in the long-term debt of the Company,
      nor has the Company declared, paid, or made any dividend or distribution of
      any
      kind on its capital stock.

     

    (i) No
      Disputes Against Company.
      There is
      no material pending or, to the knowledge of the Company, threatened (i) action,
      suit, claim, proceeding, or investigation against the Company, at law or in
      equity, or before or by any Federal, state, municipal, or other governmental
      department, commission, board, bureau, agency or instrumentality, domestic
      or
      foreign, (ii) arbitration proceeding against the Company, (iii) governmental
      inquiry against the Company or (iv) any action or suit by or on behalf of the
      Company pending or threatened against others.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    (j) Approvals.
      The
      execution, delivery, and performance by the Company of this Agreement and the
      offer and sale of the Shares require no consent of, action by or in respect
      of,
      or filing with, any person, governmental body, agency, or official other than
      those consents that have been obtained prior to the Closing and those filings
      required to be made pursuant to the Securities Act and any State Acts which
      the
      Company undertakes to file within the applicable time period.

     

    (k) Compliance.
      Neither
      the Company nor its Subsidiaries, (i) is in default under or in violation of
      (and no event has occurred that has not been waived that, with notice or lapse
      of time or both, would result in a default by the Company, or any of its
      Subsidiaries under), nor has the Company, or any of its Subsidiaries received
      notice of a claim that it is in default under or that it is in violation of,
      any
      indenture, loan or credit agreement, or any other agreement or instrument to
      which it is a party or by which it or any of its properties is bound (whether
      or
      not such default or violation has been waived), (ii) is in violation of any
      order of any Court, arbitrator, or governmental body or (iii) is or has been
      in
      violation of any statute, rule or regulation of any governmental authority,
      including without limitation all foreign, federal, state and local laws relating
      to taxes, environmental protection, occupational health and safety, product
      quality and safety and employment and labor matters, except in each case as
      could not, individually or in the aggregate, have or reasonably be expected
      to
      result in a Material Adverse Effect. The Company is in compliance with the
      applicable requirements of the Sarbanes-Oxley Act of 2002, as amended, and
      the
      rules and regulations thereunder, except where such noncompliance could not
      have
      or reasonably be expected to result in a Material Adverse Effect.

     

    (l) Patents
      and Trademarks.
      The
      Company, or any of its Subsidiaries have, or have rights to use, all patents,
      patent applications, trademarks, trademark applications, service marks, trade
      names, copyrights, licenses, and other similar rights that are necessary or
      material for use in connection with their respective businesses as described
      in
      the Exchange Act Documents and which the failure to so have could, individually
      or in the aggregate, have or reasonably be expected to result in a Material
      Adverse Effect (collectively, the “Intellectual
      Property Rights”).
      Neither the Company nor any of its Subsidiaries, has received a written notice
      that the Intellectual Property Rights used by the Company, or any of its
      Subsidiaries, violates or infringes upon the rights of any person. Except as
      set
      forth in the Exchange Act Documents, to the knowledge of the Company, all such
      Intellectual Property Rights are enforceable and there is no existing
      infringement by another person of any of the Intellectual Property Rights,
      except where such infringement could not have or reasonably be expected to
      result in a Material Adverse Effect.

     

    (m) Transactions
      With Affiliates and Employees.
      Except
      as set forth in the Exchange Act Documents, none of the officers or directors
      of
      the Company and, to the knowledge of the Company, none of the employees of
      the
      Company is presently a party to any transaction with the Company or any
      Subsidiary (other than for services as employees, officers, and directors),
      including any contract, agreement, or other arrangement providing for the
      furnishing of services to or by, providing for rental of real or personal
      property to or from, or otherwise requiring payments to or from any officer,
      director, or such employee or, to the knowledge of the Company, any entity
      in
      which any officer, director, or any such employee has a substantial interest
      or
      is an officer, director, trustee, or partner.

     

    (n) Internal
      Accounting Controls.
      The
      Company and the Subsidiaries maintain a system of internal accounting controls
      sufficient to provide reasonable assurance that (i) transactions are executed
      in
      accordance with management’s general or specific authorizations, (ii)
      transactions are recorded as necessary to permit preparation of financial
      statements in conformity with generally accepted accounting principles and
      to
      maintain asset accountability, (iii) access to assets is permitted only in
      accordance with management’s general or specific authorization, and (iv) the
      recorded accountability for assets is compared with the existing assets at
      reasonable intervals and appropriate action is taken with respect to any
      differences. The Company has established disclosure controls and procedures
      (as
      defined in Exchange Act rules 13a-15(e) and 15d-15(e)) for the Company and
      designed such disclosure controls and procedures to ensure that material
      information relating to the Company and its Subsidiaries is made known to the
      Company’s certifying officers by others within those entities, particularly
      during the period in which the Company’s Form 10-KSB or 10-QSB, as the case may
      be, are being prepared. The Company’s certifying officers have evaluated the
      effectiveness of the Company’s controls and procedures as of the end of the
      reporting period covered by the Company’s Form 10-KSB and each of the Company’s
      Forms 10-QSB filed with the Commission (each such date, the “Evaluation
      Date”)
      and
      presented in each such report their conclusions about the effectiveness of
      the
      Company’s disclosure controls and procedures based on their evaluations as of
      the applicable Evaluation Date. Since the Evaluation Date of the Company’s most
      recently filed Form 10-KSB or Form 10-QSB, there have been no significant
      changes in the Company’s disclosure controls and procedures, the Company’s
      internal control over financial reporting (as defined in Exchange Act Rules
      13a-15(f) or 15d-15(f) or, to the Company’s knowledge, in other factors that
      could significantly affect the Company’s internal controls over financial
      reporting.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    (o) Solvency.
      Based
      on the financial condition of the Company as of the Closing Date (and assuming
      that the Closing shall have occurred), (i) the Company’s fair saleable value of
      its assets exceeds the amount that will be required to be paid on or in respect
      of the Company’s existing debts and other liabilities (including known
      contingent liabilities) as they mature; (ii) the Company’s assets do not
      constitute unreasonably small capital to carry on its business for the current
      fiscal year as now conducted and as proposed to be conducted including its
      capital needs taking into account the particular capital requirements of the
      business conducted by the Company, and projected capital requirements and
      capital availability thereof; and (iii) the current cash flow of the Company,
      together with the proceeds the Company would receive, were it to liquidate
      all
      of its assets, after taking into account all anticipated uses of the cash,
      would
      be sufficient to pay all amounts on or in respect of its debt when such amounts
      are required to be paid. The Company does not intend to incur debts beyond
      its
      ability to pay such debts as they mature (taking into account the timing and
      amounts of cash to be payable on or in respect of its debt).

     

    (p) Certain
      Fees.
      Other
      than those finder’s fees payable in shares of common stock of the Company on the
      closing of the Offering and the cash commission payable on the closing as
      indicated in the Confidential Private Placement Memorandum provided to Investor
      in connection with the Offering, no brokerage or finder’s fees or commissions
      are or will be payable by the Company to any broker, financial advisor or
      consultant, finder, placement agent, investment banker, bank, or other person
      with respect to the transactions contemplated by this Agreement. The Investor
      shall have no obligation with respect to any claims (other than such fees or
      commissions owed by an Investor pursuant to written agreements executed by
      the
      Investor which fees or commissions shall be the sole responsibility of such
      Investor) made by or on behalf of other persons for fees of a type contemplated
      in this Section that may be due in connection with the transactions contemplated
      by this Agreement. 

     

    (q) Certain
      Registration Matters.
      Assuming the accuracy of the Investor’s representations and warranties set forth
      in this Agreement and the Transaction Documents and the representations and
      warranties made by all other purchasers of Units in the Offering, no
      registration under the Securities Act is required for the offer and sale of
      the
      Investor’s Units by the Company to the Investor hereunder.

     

    (r) Listing
      and Maintenance Requirements.
      Except
      as specified in the Exchange Act Documents, the Company has not, in the two
      years preceding the date hereof, received notice from any automated dealer
      quotation system or stock exchange to the effect that the Company is not in
      compliance with the listing or maintenance requirements thereof. The Company
      is,
      and has no reason to believe that it will not in the foreseeable future continue
      to be, in compliance with the listing and maintenance requirements for continued
      listing of the Common Stock on the NASD Over the Counter Bulletin
      Board.

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    (s) Investment
      Company.
      The
      Company is not, and is not an “affiliate” of, an “investment company” within the
      meaning of the Investment Company Act of 1940, as amended.

     

    (t) No
      Additional Agreements.
      The
      Company does not have any agreement or understanding with any other purchasers
      of the Units in the Offering with respect to the transactions contemplated
      by
      this Agreement on terms that differ substantially from those set forth in this
      Agreement.

     

    (u) Disclosure.
      The
      Company confirms that neither it nor any person acting on its behalf has
      provided the Investor, or its agents or counsel, with any information that
      the
      Company believes would constitute material, non-public information following
      the
      announcement of the Closing and the transactions contemplated thereby. The
      Company understands and confirms that the Investor will rely on the foregoing
      representations and covenants in effecting transactions in securities of the
      Company. All disclosure provided to the Investor regarding the Company, its
      business and the transactions contemplated hereby, furnished by or on behalf
      of
      the Company (including the Company’s representations and warranties set forth in
      this Agreement) are true and correct and do not contain any untrue statement
      of
      a material fact or omit to state any material fact necessary in order to make
      the statements made therein, in light of the circumstances under which they
      were
      made, not misleading.

     

    5. Representations
      and Warranties of the Investor.
      In
      order to induce the Company to enter into this Agreement, the Investor
      represents and warrants to the Company the following:

     

    (a) Authority.
      If a
      corporation, partnership, limited partnership, limited liability company, or
      other form of entity, the Investor is duly organized or formed, as the case
      may
      be, validly existing, and in good standing under the laws of its jurisdiction
      of
      organization or formation, as the case may be. The Investor has all requisite
      individual or entity right, power, and authority to execute, deliver, and
      perform this Agreement.

     

    (b) Enforceability.
      The
      execution, delivery, and performance of this Agreement by the Investor have
      been
      duly authorized by all requisite partnership, corporate or other entity action,
      as the case may be. This Agreement has been duly executed and delivered by
      the
      Investor, and, upon its execution by the Company, shall constitute the legal,
      valid, and binding obligation of the Investor, enforceable in accordance with
      its terms, except to the extent that its enforceability is limited by
      bankruptcy, insolvency, reorganization, moratorium, or other laws relating
      to or
      affecting the enforcement of creditors’ rights generally and by general
      principles of equity.

     

    (c) No
      Violations.
      The
      execution, delivery, and performance of this Agreement by the Investor do not
      and will not, with or without the passage of time or the giving of notice,
      result in the breach of, or constitute a default, cause the acceleration of
      performance, or require any consent under, or result in the creation of any
      lien, charge or encumbrance upon any property or assets of the Investor pursuant
      to, any material instrument or agreement to which the Investor is a party or
      by
      which the Investor or its properties may be bound or affected, and, do not
      or
      will not violate or conflict with any provision of the articles of incorporation
      or bylaws, partnership agreement, operating agreement, trust agreement, or
      similar organizational or governing document of the Investor, as applicable.
      

     

    (d) Knowledge
      of Investment and its Risks.
      The
      Investor has knowledge and experience in financial and business matters as
      to be
      capable of evaluating the merits and risks of Investor’s investment in the
      Units. The Investor understands that an investment in the Company represents
      a
      high degree of risk and there is no assurance that the Company’s business or
      operations will be successful. The Investor has considered carefully the risks
      attendant to an investment in the Company, and that, as a consequence of such
      risks, the Investor could lose Investor’s entire investment in the
      Company.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    (e) Investment
      Intent.
      The
      Investor hereby represents and warrants that (i) the Investor’s Units are being
      acquired for investment for the Investor’s own account, and not as a nominee or
      agent and not with a view to the resale or distribution of all or any part
      of
      the Investor’s Units, and the Investor has no present intention of selling,
      granting any participation in, or otherwise distributing any of the Investor’s
      Units within the meaning of the Securities Act, (ii) the Investor’s Units are
      being acquired in the ordinary course of the Investor’s business, and (iii) the
      Investor does not have any contracts, understandings, agreements, or
      arrangements, directly or indirectly, with any person and/or entity to
      distribute, sell, transfer, or grant participations to such person and/or entity
      with respect to, any of the Investor’s Units. The Investor is not purchasing the
      Investor’s Units as a result of any advertisement, article, notice or other
      communication regarding the Investor’s Units published in any newspaper,
      magazine or similar media or broadcast over television or radio or presented
      at
      any seminar or any other general solicitation or general
      advertisement.

     

    (f) Investor
      Status.
      The
      Investor is an “accredited investor” as that term is defined by Rule 501 of
      Regulation D promulgated under the Securities Act and the information provided
      by the Investor in the Investor Questionnaire, attached hereto as Appendix
      A,
      is
      truthful, accurate, and complete. The Investor is not registered as a
      broker-dealer under Section 15 of the Exchange Act or an affiliate of such
      broker-dealer.

     

    (g) Disclosure.
      The
      Investor has reviewed the information provided to the Investor by the Company
      in
      connection with the Investor’s decision to purchase the Investor’s Units,
      including the Company’s Confidential Private Placement Memorandum distributed in
      connection with the Offering and the Company’s publicly available filings with
      the Commission and the information contained therein. The Company has provided
      the Investor with all the information that the Investor has requested in
      connection with the decision to purchase the Investor’s Units. The Investor
      further represents that the Investor has had an opportunity to ask questions
      and
      receive answers from the Company regarding the business, properties, prospects,
      and financial condition of the Company. All such questions have been answered
      to
      the full satisfaction of the Investor. Neither such inquiries nor any other
      investigation conducted by or on behalf of the Investor or its representatives
      or counsel shall modify, amend, or affect the Investor’s right to rely on the
      truth, accuracy, and completeness of the disclosure materials and the Company’s
      representations and warranties contained herein.

     

    (h) No
      Registration.
      The
      Investor understands that Investor may be required to bear the economic risk
      of
      Investor’s investment in the Company for an indefinite period of time. The
      Investor further understands that (i) neither the offering nor the sale of
      the Investor’s Units has been registered under the Securities Act or any
      applicable State Acts in reliance upon exemptions from the registration
      requirements of such laws, (ii) the Investor’s Units must be held by the
      Investor indefinitely unless the sale or transfer thereof is subsequently
      registered under the Securities Act and any applicable State Acts, or an
      exemption from such registration requirements is available, (iii) except as
      set
      forth in the Registration Rights Agreement, dated as of the date hereof, between
      the Company and the Investor, the Company is under no obligation to register
      any
      of the shares of Common Stock underlying the Investor’s Units on the Investor’s
      behalf or to assist the Investor in complying with any exemption from
      registration, and (iv) the Company will rely upon the representations and
      warranties made by the Investor in this Agreement and the Transaction Documents
      in order to establish such exemptions from the registration requirements of
      the
      Securities Act and any applicable State Acts. 

     

    (i) Transfer
      Restrictions.
      The
      Investor will not transfer any of the Investor’s Units or the shares of Common
      Stock underlying the Investor’s Units or the Investor Warrants unless such
      transfer is registered or exempt from registration under the Securities Act
      and
      such State Acts, and, if requested by the Company in the case of an exempt
      transaction, the Investor has furnished an opinion of counsel reasonably
      satisfactory to the Company that such transfer is so exempt. The Investor
      understands and agrees that (i) the certificates evidencing the shares of Common
      Stock underlying the Investor’s Units and the Investor Warrants will bear
      appropriate legends indicating such transfer restrictions placed upon the Units
      and shares of Common Stock and Investor Warrants, (ii) the Company shall have
      no
      obligation to honor transfers of any of the Investor’s Units, Investor Warrants
      or shares of Common Stock underlying the Investor’s Units or Investor Warrants
      in violation of such transfer restrictions, and (iii) the Company shall be
      entitled to instruct any transfer agent or agents for the securities of the
      Company to refuse to honor such transfers.

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    (j) Principal
      Address.
      The
      Investor’s principal residence, if an individual, or principal executive office,
      if an entity, is set forth on the signature page of this Subscription
      Agreement.

     

    (k) Canadian
      Investors.
      All
      Investors who are Canadian residents for Canadian tax purposes acknowledge
      that
      they have received a Canadian Offering Memorandum in connection with the
      Offering and that such memorandum provided that each Canadian Investor
      purchasing Units in Canada is deemed to have represented to the
      Company that
      the
      Investor:

     

    (i) is
      resident in one of the Private Placement Provinces (as defined in the Canadian
      Offering Memorandum) and is entitled under applicable provincial securities
      laws
      to purchase the Units without the benefit of a prospectus qualified under those
      securities laws and, in the case of Investors in provinces other than Ontario,
      without the services of a dealer registered pursuant to those securities
      laws;

     

    (ii) has
      reviewed and acknowledges the terms included in such memorandum under the
      heading “Resale Restrictions”;

     

    (iii) if
      in
      Ontario, is an “accredited investor” as defined in Ontario Securities Commission
      Rule 45-501 (“Rule 45-501”), and is not an individual unless purchasing from a
      fully registered dealer within the meaning of Section 204 of the Regulation
      to
      the Securities Act (Ontario);

     

    (iv) if
      in
      Québec, is (i) a government, department or agency referred to in Section 43 of
      the Securities Act (Québec); (ii) a “sophisticated purchaser” within the meaning
      of Section 44 of the Securities Act (Québec); or (iii) a “sophisticated
      purchaser” within the meaning of Section 45 of the Securities Act (Québec)
      purchasing for the portfolio of a person managed solely by it;

     

    (v) if
      in
      British Columbia, Alberta, Saskatchewan, Manitoba or Prince Edward Island,
      is an
“accredited investor” as defined in Multilateral Instrument 45-103 (“MI
      45-103”); and 

     

    (vi) is
      either
      purchasing Units as principal for its own account, or is deemed to be purchasing
      Units as principal for its own account in accordance with the applicable
      securities laws of the province in which such purchaser is resident, by virtue
      of being either: (i) a designated trust company; (ii) a designated insurance
      company; (iii) a portfolio manager; or (iv) another entity similarly deemed
      by
      those laws to be purchasing as principal for its own account when purchasing
      on
      behalf of other beneficial purchasers.

     

    (vii) By
      purchasing the Units, the Investor further acknowledges that its name and other
      specified information, including the number of Units it has purchased, may
      be
      disclosed to Canadian securities regulatory authorities and become available
      to
      the public in accordance with the requirements of applicable laws and the
      Investor consents to the disclosure of that information.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    6. Independent
      Nature of Investor’s Obligations and Rights.
      The
      obligations of the Investor under this Agreement and the Transaction Documents
      are several and not joint with the obligations of any other purchaser of Units
      in the Offering, and the Investor shall not be responsible in any way for the
      performance of the obligations of any other purchaser of Units in the Offering
      under any Transaction Document. The decision of the Investor to purchase the
      Investor’s Units pursuant to the Transaction Documents has been made by the
      Investor independently of any other purchaser of Units in the Offering. Nothing
      contained herein or in any Transaction Document, and no action taken by any
      purchaser of Units pursuant thereto, shall be deemed to constitute such
      purchasers as a partnership, an association, a joint venture, or any other
      kind
      of entity, or create a presumption that the purchasers of Units are in any
      way
      acting in concert or as a group with respect to such obligations or the
      transactions contemplated by the Transaction Documents. The Investor
      acknowledges that no other purchaser of Units has acted as agent for the
      Investor in connection with making its investment hereunder and that no other
      purchaser of Units will be acting as agent of the Investor in connection with
      monitoring its investment in the Units or enforcing its rights under the
      Transaction Documents. The Investor shall be entitled to independently protect
      and enforce its rights, including without limitation the rights arising out
      of
      this Agreement or out of the other Transaction Documents, and it shall not
      be
      necessary for any other purchaser of Units to be joined as an additional party
      in any proceeding for such purpose.

     

    7. Prospectus
      Delivery Requirement.
      The
      Investor hereby covenants with the Company not to make any sale of the
      Investor’s Units or the shares of Common Stock underlying the Investor’s Units
      or the Investor Warrants or the shares of Common Stock underlying the Investor
      Warrants without complying with the provisions hereof and of the Registration
      Rights Agreement, and without effectively causing the prospectus delivery
      requirement under the Securities Act to be satisfied (unless the Investor is
      selling in a transaction not subject to the prospectus delivery requirement).
      

     

    8. Shareholder
      Approval.
      The
      Company represents and warrants to the Investor that a vote of the stockholders
      of the Company will not be required to approve the issuance of the Investor’s
      Units.

     

    9. Indemnification
      of Investor.
      In
      addition to the indemnity provided in the Registration Rights Agreement, the
      Company will indemnify and hold the Investor and its directors, officers,
      shareholders, members, managers, partners, employees and agents (each, an
“Investor
      Party”)
      harmless from any and all losses, liabilities, obligations, claims,
      contingencies, damages, costs and expenses, including all judgments, amounts
      paid in settlements, court costs, and reasonable attorneys’ fees and costs of
      investigation (collectively, “Losses”)
      that
      any such Investor Party may suffer or incur as a result of or relating to any
      misrepresentation, breach, or inaccuracy of any representation, warranty,
      covenant, or agreement made by the Company in any Transaction Document. In
      addition to the indemnity contained herein, the Company will reimburse each
      Investor Party for its reasonable legal and other expenses (including the cost
      of any investigation, preparation, and travel in connection therewith) incurred
      in connection therewith, as such expenses are incurred.

     

    10. Non-Public
      Information.
      Subsequent to the Closing, the Company covenants and agrees that neither it
      nor
      any other person acting on its behalf will provide Investor or its agents or
      counsel with any information that the Company believes constitutes material
      non-public information, unless prior thereto Investor shall have executed a
      written agreement regarding the confidentiality and use of such information.
      The
      Company understands and confirms that Investor shall be relying on the foregoing
      representations in effecting transactions in securities of the
      Company.

     

    11. Further
      Assurances.
      The
      parties hereto will, upon reasonable request, execute and deliver all such
      further assignments, endorsements and other documents as may be necessary in
      order to perfect the purchase by the Investor of the Investor’s
      Units.

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    12. Entire
      Agreement; No Oral Modification.
      This
      Agreement and the other Transaction Documents contain the entire agreement
      among
      the parties hereto with respect to the subject matter hereof and supersede
      all
      prior agreements and understandings with respect thereto and this Agreement
      may
      not be amended or modified except in a writing signed by both of the parties
      hereto.

     

    13. Binding
      Effect; Benefits.
      This
      Agreement shall inure to the benefit of and be binding upon the parties hereto
      and their respective heirs, successors and assigns; however, nothing in this
      Agreement, expressed or implied, is intended to confer on any other person
      other
      than the parties hereto, or their respective heirs, successors or assigns,
      any
      rights, remedies, obligations or liabilities under or by reason of this
      Agreement.

     

    14. Counterparts.
      This
      Agreement may be executed in any number of counterparts, for each of which
      shall
      be deemed to be an original and all of which together shall be deemed to be
      one
      and the same instrument. In the event that any signature is delivered by
      facsimile transmission, such signature shall create a valid and binding
      obligation of the party executing (or on whose behalf such signature is
      executed) with the same force and effect as if such facsimile signature page
      were an original thereof.

     

    15. Governing
      Law.
      This
      Agreement shall be governed by, and construed and enforced in accordance with,
      the laws of the United States of America and the State of New York, both
      substantive and remedial. Any
      judicial proceeding brought against either of the parties to this agreement
      or
      any dispute arising out of this Agreement or any matter related hereto shall
      be
      brought in the courts of the State of New York, New York County, or in the
      United States District Court for the Southern District of New York and, by
      its
      execution and delivery of this agreement, each party to this Agreement accepts
      the jurisdiction of such courts. 

     

    16. Prevailing
      Parties.
      In any
      action or proceeding brought to enforce any provision of this Agreement, or
      where any provision hereof is validly asserted as a defense, the prevailing
      party shall be entitled to receive and the nonprevailing party shall pay upon
      demand reasonable attorneys’ fees in addition to any other remedy.

     

    17. Notices.
      All
      communication hereunder shall be in writing and shall be mailed, delivered,
      telegraphed or sent by facsimile or electronic mail, and such delivery shall
      be
      confirmed to the addresses as provided below: 

    

    if
      to the
      Investor:

    

    to
      the
      address set forth on the signature page of this Agreement

    

    if
      to the
      Company to:

    

    Gran
      Tierra Energy, Inc.

    Tenth
      Floor

    10
      - 8th
      Avenue S.W.

    Calgary,
      Alberta, Canada T2P 1G5

    Attention:
      James Hart

    Telephone
      number (403) 537-7453

    

    with
      a
      copy to:

    

    McGuireWoods
      LLP

    Attention:
      Louis W. Zehil

    1345
      Avenue of the Americas

    New
      York,
      New York 10105

    Telephone
      number (212) 548-2138

    

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    18. Headings.
      The
      section headings herein are included for convenience only and are not to be
      deemed a part of this Agreement.

     

    

     

    [SIGNATURE
      PAGES FOLLOW]

     

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, the parties hereto have executed this Subscription Agreement
      as
      of the date first written above.

     

    

     

    
      	 	
              GRAN
                TIERRA ENERGY, INC.

            
	 	 
	 	 
	 	 
	 	
              By:
                __________________________

            
	 	
              Name:
                ____________________

            
	 	
              Its:
                ______________________

            

    

    

     

    

    

    

    

    

    [SIGNATURE
      PAGE OF INVESTOR FOLLOWS]

     

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, the parties hereto have executed this Subscription Agreement
      as
      of the date first written above.

     

    

    
      	
              INVESTOR
                (individual)

            	
              INVESTOR
                (entity)

            
	 	 
	
              ______________________________________

            	
              ____________________________________

            
	
              Signature

            	
              Name
                of Entity

            
	 	 
	
              ______________________________________

            	
              ____________________________________

            
	
              Print
                Name

            	
              Signature

            
	 	 
	
              Address
                of Principal Residence:

            	 
	
              _____________________________________

            	
              ____________________________________

            
	
              _____________________________________

            	
              Print
                Name________________________

            
	
              _____________________________________

            	
              Title:
                _____________________________

            
	 	 
	
              Social
                Security Number 

            	
              Address
                of Executive Offices

            
	
              _____________________________________

            	 
	 	
              __________________________________

            
	
              Telephone
                Number

            	
              ___________________________________

            
	
              ___________________________________

            	
              __________________________________

            
	 	 
	
              Facsimile
                Number

            	
              IRS
                Tax Identification Number

            
	
              __________________________________

            	
              __________________________________

            
	 	 
	 	
              Telephone
                Number

            
	 	
              __________________________________

            
	 	 
	 	
              Facsimile
                Number

            
	 	
              ____________________________________

            
	 	 

    

    

    
      	
              _________________

            	
              X

            	
              $.80                      
                

            	
              =

            	
              $___________________

            
	
              Number
                of Units 

            	 	
              Price
                per Unit

            	 	
              Purchase
                Price

            

    

     

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    APPENDIX
      A

    

    Investor
      Questionnaire

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