EXHIBIT 99.1
                                                                   PRESS RELEASE

           Gran Tierra Continues Land, Reserves and Production Growth

CALGARY, Alberta, Feb. 28, 2006 - Gran Tierra Energy, Inc. (OTC Bulletin Board:
GTRE.OB) is continuing to build its asset base in Argentina with the
announcement of an agreement with Golden Oil Corporation to acquire a 50%
interest in the El Vinalar Block in the Noroeste Basin of Argentina. This
acquisition is expected to add a significant new land position and approximately
50 barrels of oil production net before royalties to Gran Tierra. Gran Tierra's
share of production in Argentina for 2005 averaged 330 barrels per day (net
before royalty).

El Vinalar encompasses 1,005 gross square kilometers (248,341 acres) and
contains a portfolio of exploration leads and oil field enhancement
opportunities. Total consideration for the acquisition is US$ 0.95 million plus
the funding of up to US$2.70 million in a planned drilling program. The
transaction is subject to standard closing conditions including the execution of
mutually acceptable agreements on or before April 30, 2006.

This acquisition adds further to Gran Tierra's production and land position in
the Noroeste basin, where the company has been selectively acquiring assets
since September 2005. The Vinalar agreement augments the announcement of a $37.8
million acquisition agreement with Compania General de Combustibles S.A. (CGC)
on February 22 (also subject to standard closing conditions including the
execution of mutually acceptable agreements, in addition to preferential
acquisition rights of partners in certain properties). The successful closing of
the CGC and Golden Oil acquisitions will increase Gran Tierra's production to
over 1,600 barrels of oil equivalent per day (on a price basis, net before
royalties) and expand the company's opportunity inventory via a participation in
6,100 gross square kilometers (1.55 million acres) of land for future drilling.

Dana Coffield, Gran Tierra's President and CEO, stated, "Growth in the petroleum
industry is fundamentally driven by drilling success, which requires access to
prospective land. We continue to pursue niche opportunities, like El Vinalar,
and strategic opportunities, like our acquisition of the CGC properties, to
provide cashflow and a portfolio of drilling opportunities for our company. It's
a building block approach to value creation, and it's an approach that we intend
to continue."

About Gran Tierra Energy, Inc.

Gran Tierra Energy, Inc. is an international oil and gas exploration and
production company, headquartered in Calgary, Canada, incorporated and traded in
the United States and operating in South America. The Company currently holds
interests in producing and non-producing properties in Argentina and is pursuing
a growth strategy that focuses on establishing a portfolio of producing
properties, and development and exploration opportunities, by selective
acquisitions, to provide a base for future growth. Additional information
concerning Gran Tierra is available at http://www.grantierra.com . Investor
inquiries may be directed to info@grantierra.com or 1-800-916-GTRE(4873).

Forward Looking Statements

This press release contains `forward-looking statements' within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, including without limitation those statements
regarding the Company's ability to exploit oil and gas exploration
opportunities. These statements are expressed in good faith and based upon a
reasonable basis when made, but there can be no assurance that these



expectations will be achieved or accomplished. Although the forward-looking
statements in this release reflect the good faith judgment of management,
forward-looking statements are inherently subject to known and unknown risks and
uncertainties that may cause actual results to be materially different from
those discussed in these forward-looking statements including, but no limited
to, failing to discover reserves that may be extracted on a commercially viable
basis, inaccurately estimating oil and gas reserves, intense competition,
environmental risks and general economic conditions including the price of oil
and gas. Readers are urged not to place undue reliance on these forward-looking
statements, which speak only as of the date of this release. We assume no
obligation to update any forward-looking statements in order to reflect any
event or circumstance that may arise after the date of this release, other than
as may be required by applicable law or regulation. Readers are urged to
carefully review and consider the various disclosures made by us in the our
reports filed with the Securities and Exchange Commission, including those risks
set forth in the Company's Current Report on Form 8-K filed on November 10,
2005, which attempt to advise interested parties of the risks and factors that
may affect our business, financial condition, results of operation and cash
flows. If one or more of these risks or uncertainties materialize, or if the
underlying assumptions prove incorrect, our actual results may vary materially
from those expected or projected. We undertake no obligation to update these
forward-looking statements.