GMT Exploration Form 4 GRAN TIERRA ENERGY / THOMAS E CLAUGUS ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

GMT CAPITAL CORP

(Last) (First) (Middle)

GMT CAPITAL CORP

2300 WINDY RIDGE PARKWAY SUITE 550 SOUTH

(Street)

ATLANTA GA 30339

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GRAN TIERRA ENERGY INC. [ GTE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/04/2021

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
COMMON STOCK(1)(2)(3)	01/04/2021		S		275,924	D	$0.36	63,393,429	D
COMMON STOCK(1)(2)(4)	01/05/2021		S		765,476	D	$0.39	62,627,953	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

GMT CAPITAL CORP

(Last) (First) (Middle)

GMT CAPITAL CORP

2300 WINDY RIDGE PARKWAY SUITE 550 SOUTH

(Street)

ATLANTA GA 30339

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

BAY RESOURCE PARTNERS LP

(Last) (First) (Middle)

2300 WINDY RIDGE PARKWAY

SUITE 550 SOUTH

(Street)

ATLANTA GA 30339

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

BAY II RESOURCE PARTNERS LP

(Last) (First) (Middle)

2300 WINDY RIDGE PARKWAY

SUITE 550 SOUTH

(Street)

ATLANTA GA 30339

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

BAY RESOURCE PARTNERS OFFSHORE MASTER FUND, L.P.

(Last) (First) (Middle)

2300 WINDY RIDGE PARKWAY

SUITE 550 SOUTH

(Street)

ATLANTA GA 30339

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

CLAUGUS THOMAS E

(Last) (First) (Middle)

GMT CAPITAL CORP

2300 WINDY RIDGE PARKWAY SUITE 550 SOUTH

(Street)

ATLANTA GA 30339

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

GMT Exploration Co LLC

(Last) (First) (Middle)

1560 Broadway

STE 2000

(Street)

Denver CO 80202

(City) (State) (Zip)

Explanation of Responses:

1. This Form 4 is being jointly filed by Bay Resource Partners, L.P. (Bay), a Delaware limited partnership, Bay II Resource Partners, L.P. (Bay II), a Delaware limited partnership, Bay Resource Partners Offshore Master Fund, L.P. (Bay Offshore), an exempted limited partnership organized under the laws of the Cayman Islands, GMT Exploration Company LLC (GMT Exploration), a Delaware limited liability company, GMT Capital Corp., a Georgia corporation (GMT Capital), and Thomas E. Claugus (Claugus), a United States citizen. The foregoing persons are hereinafter sometimes collectively referred to as the Reporting Persons.

2. GMT Capital is the general partner of Bay and Bay II and has the power to direct the affairs of Bay and Bay II, including voting and disposition of shares. As the discretionary investment manager of Bay Offshore, GMT Capital has power to direct voting and disposition of shares held by Bay Offshore. Claugus is the President of GMT Capital and in that capacity, directs the operations of each of Bay and Bay II and voting and disposition of shares held by Bay Offshore. GMT Capital is also the non-discretionary manager of GMT Exploration through a separately managed account relationship. In addition, Claugus owns a controlling interest in GMT Exploration. GMT Capital and Claugus may be deemed to beneficially own indirect pecuniary interest as the result of performance-based fees and profit allocations. Each of GMT Capital and Claugus disclaims such beneficial ownership except to the extent ultimately realized.

3. The aggregate number of shares of common stock sold on January 04, 2021, was 275,924 shares, at a price of $0.36 per share, resulting in an aggregate number of shares owned by the Reporting Persons of 63,393,429. Such shares were sold, and thereafter beneficially owned by the Reporting Persons in the following amounts: Bay = 82,400 shares sold resulting in ownership of 18,377,090 shares; Bay II = 66,100 shares sold resulting in ownership of 14,852,330 shares; Offshore Fund = 116,424 shares sold resulting in ownership of 26,038,909 shares; GMT Capital = 0 shares sold resulting in ownership of 147,000 shares; Claugus =11,000 shares sold resulting in ownership of 2,451,200 shares; GMT Exploration = 0 shares sold resulting in ownership of 1,526,900 shares.

4. The aggregate number of shares of common stock sold on January 05, 2021, was 765,476 shares, at a price of $0.39 per share, resulting in an aggregate number of shares owned by the Reporting Persons of 62,627,953. Such shares were sold, and thereafter beneficially owned by the Reporting Persons in the following amounts: Bay = 228,600 shares sold resulting in ownership of 18,148,490 shares; Bay II = 183,500 shares sold resulting in ownership of 14,668,830 shares; Offshore Fund = 322,976 shares sold resulting in ownership of 25,715,933 shares; GMT Capital = 0 shares sold resulting in ownership of 147,000 shares; Claugus = 30,400 shares sold resulting in ownership of 2,420,800 shares; GMT Exploration = 0 shares sold resulting in ownership of 1,526,900 shares.

	/s/ Philip J. Meyers	01/06/2021
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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