Oil exploration company, Gran Tierra Energy, will acquire all the issued and outstanding shares and warrants of Petrolifera Petroleum. The total value of the deal is expected to be about $195 million, including the assumption of Petrolifera’s debt.

Petrolifera shareholders will get 0.1241 of a Gran Tierra share, for every Petrolifera share held. Gran Tierra will issue 19 million shares as part of the acquisition. The board of directors of Petrolifera has approved the agreement.

Click here for the release fromPR Newswire.