Oil Price Volatility: The company's financial performance is highly dependent on global crude oil prices, which are subject to significant fluctuations due to supply and demand dynamics, geopolitical events, and economic conditions.

Colombian Political and Security Risks: Operating primarily in Colombia exposes Gran Tierra to political instability, regulatory changes, social unrest, security concerns, and potential disruptions from illegal armed groups, which can impact operations and access to infrastructure.

Exploration and Development Success: There is no guarantee that exploration efforts will result in commercially viable discoveries or that development projects will achieve anticipated production rates or reserve additions, impacting future growth and profitability.