GRAN TIERRA ENERGY - COLOMBIA BU

Monthly closing reporting agenda- check list

March, 2020
ACTIVITY SPA
MATERIALS (stock) DM
Warehouse Inventory VMM & PUT LR
Close MM (Accounts in OB52 and next period open for Warehouse entries) GB
Warehouse reconciliation and analysis DM
Diesel reconciliation one pager (including summary) CP

ACCOUNTS PAYABLE CC
Field invoice and disbursements reception and entry ArC-KO
Field vendor invoice received in Bogota ArC-KO
Field vendor invoice review & entry approval CC/DO
Bogota vendor invoice reception HR/CG
Bogota vendor invoice review & entry approval. CC-DO
Bogota vendor invoice advances uses and G&A YG/CC
AFE/CeCo classification for intercompany invoices (cost controllers) CP,LRG, AAv
Invoices from Calgary CC,CP,DO
Invoices from GTER CC, SO
Bogota AP module close CC

TREASURY MP/CP
Payments closing MP
Cash collection and deposit entries closing MP
Delivery of bank statements to accounting MP
Bank reconciliations in SAP AY
Bank reconciliations sign-off AY/BF

PAYROLL LRG
Pay out LRG
Record payroll entries AY/BF
Timesheets and G&A allocation calcs. (at noon) LRG
Record timesheet entries AY
Payroll reconciliation (Novasoft vs. SAP) LRG

ACCRUALS AAv/CMC
Close EMRF (Accounts in OB52) CG
Send GL accruals from contracts administrators to Cost Controllers CA
Send Transportation Accruals for GTEC/GTER to Cost Controllers GVi-UT
Send Transportation Accruals for GTEC/GTER to Finance AAv
Non operated accruals - Inform to Cost Controllers related to actual information booked ML
Send accruals for Tisquirama, Guayuyaco, VMM-2 AAv
 Send accruals to Ecuador CL/RC
Send final accruals database for Accounting AAv
Signed minutes and supporting documentation AAv, LRG
Record accruals GL (other than pipeline) EP
Record HPR, FX, pipeline transportation & tax transportation accruals SO

VOLUMES, ROYALTIES AND REVENUE SO

Production report (summary) - Preliminary LRu/DB
Revenue, Derechos economicos accrual entries KD/AV
Accounts Receivables entries (GTER-C410) KD/AV
Volumes Spreadsheet (Preliminary) SO/JFS
Record private royalty agreements (Crosby, PCR) GB/DP
Volumes Spreadsheet (Final) SO/JFS
Volumes upload in BPC SO/JFS
Inventory valuation IFRS (quarterly) SO
Inventory valuation US GAAP AV
MME Forms (signed-off) and Final Prod. Rep. Prior month LRu/DB

CONTROLLING MODULE AAV

Internal orders settlement AAV
Closing of CO accounts AAV

JOINT VENTURE ML
Workover and Admin HQ allocation MP/CM
Record overhead to partners MP/CM
Change and recalculate WI % for Tisquirama ML
Recalculate WI % for VMM-2 ML
JVA allocations ML
Suroriente (Opex-Ecp / Vias) CM/ML
Review of gross balances before cutback CG/ML
Execute cutback ML
G&A allocation to Capex & Opex MP
Record non-operated billing statement MP/CM
Record JV Receivable reclas CM

FIXED ASSETS CG
Abandonment liabilities (ARO Calcs) EP
PS settlement HC
PS Module Closing HC
Assets analysis and adjustments before DD&A (write-off, capitalizations, reclas) HC
DD&A (IFRS/USGAAP) HC

CURRENCY CONVERSION AND TAXES ENTRIES CG

Validation TB by segment CP
Run Fx process CP
 Reclassifications for IFRS purposes HC/SO
Confirmation of local books close for tax purposes CG
Closing of P&L for IFRS (except for tax accounts) GB
Tax provision, effective tax recon. (USGAAP & local) and Tax Schedules JG
Reclassifications for tax accounts JG
Tax package entries JG

FINAL ACTIVITIES AND REPORTING MG

Production performance (variance explanations) OR/EV
Send Opex - Oil trucking spreadsheet to AR UT, AAv
Transportation volumes report (after billing) KD/SO/JFS
Workover internal orders report to Basin Coord. AAv
Capex, Opex and G&A explanation OR,SM
"Q" New Ventures memo on proved/unproved properties (only for quarters) AAv/LW
ARO study update from Operations DB
Realized price analysis including inventory fluctuation GB/MG
Leases Spreadsheet analysis CG
Reasonableness review of Trial B. and Supporting Docs. JFS
Sing Off check list by area (AR, AP, JV, GA, TAX) CC,SO,ML, CG
Provide supporting schedules duly signed by Accounting Leader JFS
Provide balance sheet variance explanations CG, SO, CC, ML
Closing Colombia Trial Balance in SAP JFS
Record elimination entries DP
MMR CONSOL Delivery MG

AAv=Adriana Avella
AG=Alcides González
AP=Cuentas por Pagar
AY=Adrian Yepes
BY=Bella Florez
CA=Contract Administrator
CB=Carlos Bello
CC=Carolina Cardoso
CM=Chris Metcalfe
CMC=Claudia Marcela Contreras
CG= Cristina Galan
CgM= Craig Marshall
CL=Carlos Liévano
CP=Carlos Paez
DB= Diego Bustamante
DP= Diego Pérez
DO= Daisy Orjuela
EV=Enrique Villalobos
EP=Erika Pulido
 GB=Gladys Bernate
GR=Gustavo Rueda
GVi=Gilver Viasus
HC=Helbert Castañeda
HM=Hugo Molina
HR=Hernando Rativa
JFL=Juan F. Lopez
JFS=Juan F. Suarez
JG=Jimmy Guavita
JS=Jair Saldaña
JSM=Juan Sebastian Maz
KD=Khirbet Delgado
LRu=Lizeth Ruiz
LR=Luis Rubio
LRG=Lorena Ramirez G.
LW=Lawrence West
MC=Mauricio Calderón
MG=Miguel Gomez
ML=Mario Leal
MP=Marlene Peña
OR=Oriana Rentería
PB=Paul Baker
SM=Sofia Mendez
SO=Sabina Orozco
UT=Uriel Torres
YG= Yolly Guerra
ZR=Zoraya Ramirez

n Critical third party information

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April
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