The 1001 well is located roughly 10km northwest of the Palmar Largo field in Argentina's northwest basin, and was spudded on September 25, the statement said.
Drilling is currently at a depth of 4,028m.
Gran Tierra acquired a 14% working interest in the Palmar Largo JV from South Korean oil company Dong Won Corporation last June at a price of US$7mn.
The Palmar Largo JV consists of several producing oil fields operated by Argentine oil company Pluspetrol, and currently turns out 340 barrels a day net before royalties to Gran Tierra.
Gran Tierra also owns 50% interests in two other minor properties in the northwest basin, Nacatimbay and Ipaguazu, both of which are operated by Argentine oil exploration company CGC.
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