Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G/A
Under the Securities Exchange
Act of 1934
(Amendment No. _1_)*
Gran Tierra Energy Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
38500T101
(CUSIP Number)
December 31, 2019
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant
to which this Schedule is filed:
þ Rule 13d-1(b)
☐ Rule 13d-1(c)
☐ Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
| CUSIP No. 38500T101 | 13G | Page 2 of 14 |
| 1. | NAMES OF REPORTING PERSONS Bay Resource Partners, L.P. | ||
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) þ (b) o | ||
| 3. | SEC USE ONLY | ||
| 4. | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5. | SOLE VOTING POWER 0 | |
| 6. | SHARED VOTING POWER 23,115,390 | ||
| 7. | SOLE DISPOSITIVE POWER 0 | ||
| 8. | SHARED DISPOSITIVE POWER 23,115,390 | ||
| 9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 23,115,390 | ||
| 10. | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) o | ||
| 11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.3% | ||
| 12. | TYPE OF REPORTING PERSON (see instructions) PN | ||
| CUSIP No. 38500T101 | 13G | Page 3 of 14 |
| 1. | NAMES OF REPORTING PERSONS Bay II Resource Partners, L.P. | ||
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) þ (b) o | ||
| 3. | SEC USE ONLY | ||
| 4. | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5. | SOLE VOTING POWER 0 | |
| 6. | SHARED VOTING POWER 19,161,030 | ||
| 7. | SOLE DISPOSITIVE POWER 0 | ||
| 8. | SHARED DISPOSITIVE POWER 19,161,030 | ||
| 9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 19,161,030 | ||
| 10. | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) o | ||
| 11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.2% | ||
| 12. | TYPE OF REPORTING PERSON (see instructions) PN | ||
| CUSIP No. 38500T101 | 13G | Page 4 of 14 |
| 1. | NAMES OF REPORTING PERSONS Bay Resource Partners Offshore Master Fund, L.P. | ||
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) þ (b) o | ||
| 3. | SEC USE ONLY | ||
| 4. | CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5. | SOLE VOTING POWER 0 | |
| 6. | SHARED VOTING POWER 33,330,656 | ||
| 7. | SOLE DISPOSITIVE POWER 0 | ||
| 8. | SHARED DISPOSITIVE POWER 33,330,656 | ||
| 9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 33,330,656 | ||
| 10. | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) o | ||
| 11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 9.1% | ||
| 12. | TYPE OF REPORTING PERSON (see instructions) PN | ||
| CUSIP No. 38500T101 | 13G | Page 5 of 14 |
| 1. | NAMES OF REPORTING PERSONS GMT Exploration Company LLC | ||
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) þ (b) o | ||
| 3. | SEC USE ONLY | ||
| 4. | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5. | SOLE VOTING POWER 0 | |
| 6. | SHARED VOTING POWER 1,526,900 | ||
| 7. | SOLE DISPOSITIVE POWER 0 | ||
| 8. | SHARED DISPOSITIVE POWER 1,526,900 | ||
| 9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,526,900 | ||
| 10. | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) o | ||
| 11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.4% | ||
| 12. | TYPE OF REPORTING PERSON (see instructions) OO | ||
| CUSIP No. 38500T101 | 13G | Page 6 of 14 |
| 1. | NAMES OF REPORTING PERSONS GMT Capital Corp. | ||
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) þ (b) o | ||
| 3. | SEC USE ONLY | ||
| 4. | CITIZENSHIP OR PLACE OF ORGANIZATION State of Georgia | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5. | SOLE VOTING POWER 0 | |
| 6. | SHARED VOTING POWER 80,258,476 | ||
| 7. | SOLE DISPOSITIVE POWER 0 | ||
| 8. | SHARED DISPOSITIVE POWER 80,258,476 | ||
| 9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 80,258,476 | ||
| 10. | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) o | ||
| 11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 21.9% | ||
| 12. | TYPE OF REPORTING PERSON (see instructions) IA | ||
| CUSIP No. 38500T101 | 13G | Page 7 of 14 |
| 1. | NAMES OF REPORTING PERSONS Thomas E. Claugus | ||
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) þ (b) o | ||
| 3. | SEC USE ONLY | ||
| 4. | CITIZENSHIP OR PLACE OF ORGANIZATION United States | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5. | SOLE VOTING POWER 0 | |
| 6. | SHARED VOTING POWER 80,258,476 | ||
| 7. | SOLE DISPOSITIVE POWER 0 | ||
| 8. | SHARED DISPOSITIVE POWER 80,258,476 | ||
| 9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 80,258,476 | ||
| 10. | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) o | ||
| 11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 21.9% | ||
| 12. | TYPE OF REPORTING PERSON (see instructions) IN | ||
| CUSIP No. 38500T101 | 13G | Page 8 of 14 |
Item 1.
| (a) | Name of Issuer |
The name of the issuer is Gran Tierra Energy Inc. (herein referred to as “Issuer”).
| (b) | Address of Issuer’s Principal Executive Offices |
The principal executive offices of the Issuer are located at 900, 520 - 3 Avenue SW, Toronto, Calgary, Alberta Canada T2P 0R3.
Item 2.
| (a) | Name of Person Filing |
This Statement is filed on behalf of each of the following persons (collectively, the “Reporting Persons”)
| i) | Bay Resource Partners, L.P., (Bay), with respect to shares of Common Stock directly owned by it. |
| ii) | Bay II Resource Partners, L.P., (Bay II), with respect to shares of Common Stock directly owned by it. |
| iii) | Bay Resource Partners Offshore Master Fund, L.P. (Offshore Fund) with respect to shares of Common Stock directly owned by it. |
| iv) | GMT Exploration Company LLC (GMT Exploration) with respect to shares of Common Stock directly owned by it. |
| v) | GMT Capital Corp. (GMT Capital) with respect to shares of Common Stock directly owned by each of Bay, Bay II, the Offshore Fund, GMT Exploration, and certain sub-advisory and separate account clients advised by GMT Capital. |
| vi) | Thomas E. Claugus, (Mr. Claugus), with respect to the shares of Common Stock directly owned by him and directly owned by each of Bay, Bay II, the Offshore Fund, GMT Exploration, and certain sub-advisory and separate account clients advised by GMT Capital. |
The foregoing persons are hereinafter sometimes collectively referred to as the Reporting Persons. Any disclosures herein with respect to persons other than the Reporting Persons are made on information and believe after making inquiry to the appropriate party.
| (b) | Address of the Principal Office or, if none, residence |
The address of the business office of each of the Bay, Bay II, Offshore Fund, GMT Capital, and Mr. Claugus is 2300 Windy Ridge Parkway, Ste. 550 South, Atlanta, GA 30339. The address of the business office of GMT Exploration is 1560 Broadway, Ste. 2000, Denver, CO 80202.
| (c) | Citizenship |
Bay and Bay II are limited partnerships organized under the laws of the State of Delaware. The Offshore Fund is an
exempted limited partnership organized under the laws of the Cayman Islands. GMT Exploration is a limited liability company organized under the laws of the State of Delaware. GMT Capital is a Georgia corporation. Mr. Claugus is a United States citizen.
| (d) | Title of Class of Securities |
The schedule 13G statement relates to Common Stock of the Issuer.
| (e) | CUSIP Number |
The CUSIP number for the Common Stock is 38500T101.
| CUSIP No. 38500T101 | 13G | Page 9 of 14 |
Item 3. Filing pursuant to §240.13d-1(c)
If this statement is filed pursuant to Sections 240. 13d-1(b), or 240.13d-2(b) or (c), check whether the person filing is a:
| (a) | ☐ | Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o); |
| (b) | ☐ | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); |
| (c) | ☐ | Insurance Company as defined in section 3(a)(19) of the Act (15 U.S.C. 78C); |
| (d) | ☐ | Investment company registered under Section 8 of the Investment Company Act if 1940 (15 U.S.C. 80a-8); |
| (e) | ☑ | An investment adviser in accordance with Section 240.13d-1(b)(1)(ii)(E); |
| (f) | ☐ | An employee benefit plan or endowment fund in accordance with Section 240.13d-1(b)(1)(ii)(F); |
| (g) | ☐ | A parent holding company or control person in accordance with Section 240.13d-1(b)(1)(ii)(G); |
| (h) | ☐ | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); |
| (i) | ☐ | A church plan that is excluded from the definition of an insurance company under Section 3 (c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); |
| (j) | ☐ | Group, in accordance with section 240.13d-1 (b)(1)(ii)(J). |
Item 4. Ownership
This statement is being filed with respect to an aggregate of 80,258,476 shares of Common Stock, resulting in beneficial ownership of Common Stock as follows:
| 1. | Bay Resource Partners, L.P. |
| (a) | Amount Beneficially owned: 23,115,390. |
| (b) | Percent of Class: 6.3% |
| (c) | Number of shares to which the person has: |
| (i) | Sole power to vote or to direct the vote: 0 |
| (ii) | Shared power to vote or to direct the vote: 23,115,390 |
| (iii) | Sole power to dispose or to direct the disposition of: 0 |
| (iv) | Shared power to dispose or to direct the disposition of: 23,115,390 |
| 2. | Bay II Resource Partners, L.P. |
| (a) | Amount Beneficially owned: 19,161,030 |
| (b) | Percent of Class: 5.2% |
| (c) | Number of shares to which the person has: |
| (i) | Sole power to vote or to direct the vote: 0 |
| (ii) | Shared power to vote or to direct the vote: 19,161,030 |
| CUSIP No. 38500T101 | 13G | Page 10 of 14 |
| (iii) | Sole power to dispose or to direct the disposition of: 0 |
| (iv) | Shared power to dispose or to direct the disposition of: 19,161,030 |
| 3. | Bay Resource Partners Offshore Master Fund, L.P. |
| (a) | Amount Beneficially owned: 33,330,656. |
| (b) | Percent of Class: 9.1% |
| (c) | Number of shares to which the person has: |
| (i) | Sole power to vote or to direct the vote: 0 |
| (ii) | Shared power to vote or to direct the vote: 33,330,656 |
| (iii) | Sole power to dispose or to direct the disposition of: 0 |
| (iv) | Shared power to dispose or to direct the disposition of: 33,330,656 |
| 4. | GMT Exploration Company LLC |
| (a) | Amount Beneficially owned: 1,526,900 |
| (b) | Percent of Class: 0.4% |
| (c) | Number of shares to which the person has: |
| (i) | Sole power to vote or direct the vote: 0 |
| (ii) | Shared power to vote or direct the vote: 1,526,900 |
| (iii) | Sole power to dispose or to direct the disposition of: 0 |
| (iv) | Shared power to dispose or to direct the disposition of: 1,526,900 |
| 5. | GMT Capital Corp. |
| (a) | Amount Beneficially owned: 80,258,476 |
| (b) | Percent of Class: 21.9% |
| (c) | Number of shares to which the person has: |
| (i) | Sole power to vote or to direct the vote: 0 |
| (ii) | Shared power to vote or to direct the vote: 80,258,476 |
| (iii) | Sole power to dispose or to direct the disposition of: 0 |
| (iv) | Shared power to dispose or to direct the disposition of: 80,258,476 |
| 6. | Thomas E. Claugus |
| (a) | Amount Beneficially owned: 80,258,476 |
| (b) | Percent of Class: 21.9% |
| CUSIP No. 38500T101 | 13G | Page 11 of 14 |
| (c) | Number of shares to which the person has: |
| (i) | Sole power to vote or to direct the vote: 0 |
| (ii) | Shared power to vote or to direct the vote: 80,258,476 |
| (iii) | Sole power to dispose or to direct the disposition of: 0 |
| (iv) | Shared power to dispose or to direct the disposition of: 80,258,476 |
| Item 5. | Ownership of Five Percent or Less of a Class. |
þ As of the date of this Report, the aggregate beneficial ownership of the Reporting Persons had been reduced to below five percent (5%).
| Item 6. | Ownership of More than Five Percent on Behalf of another Person. |
GMT Capital, the general partner of Bay and Bay II, has the power to direct the affairs of Bay and Bay II, including the voting and disposition of shares. As the discretionary investment manager of the Offshore Fund and certain other sub-advisory and separate accounts, GMT Capital has power to direct the voting and disposition of shares held by the Offshore Fund and such other accounts. GMT Capital is also the non-discretionary manager of GMT Exploration through a separately managed account relationship. Mr. Claugus is the President of GMT Capital and in that capacity directs the operations of each of Bay and Bay II and the voting and disposition of shares held by the Offshore Fund and certain sub-advisory and separate account clients advised by GMT. In addition, Mr. Claugus owns a controlling interest in GMT Exploration.
| Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. |
Not Applicable
| Item 8. | Identification and Classification of Members of the Group. |
Please see response to Item 2.
| Item 9. | Notice of Dissolution of Group. |
Not Applicable
| CUSIP No. 38500T101 | 13G | Page 12 of 14 |
| Item 10. | Certification |
By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
| February 13, 2020 | |
| Date |
|
/s/ Philip J. Meyers |
|
| Philip J. Meyers, as Vice President of GMT Capital Corp., for itself and as the general partner of (i) Bay Resource Partners, L.P. and (ii) Bay II Resource Partners, L.P., and as the investment manager of (iii) Bay Resource Partners Offshore Master Fund, L.P. and (iv) GMT Exploration Company LLC and (iv) certain other accounts and for Thomas E. Claugus. |
| CUSIP No. 38500T101 | 13G | Page 13 of 14 |
EXHBIT INDEX
| Ex. | Page No. | |
| A Joint Filing Agreement | 14 |
| CUSIP No. 38500T101 | 13G | Page 14 of 14 |
EXHBIIT A
JOINT FILING AGREEMENT
The undersigned hereby agree that the statement on Schedule 13G with respect to the Ordinary Shares of Gran Tierra Energy Inc. dated as of February 13, 2020 is, and any amendments thereto signed by each of the undersigned shall be, filed on behalf of each of us pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.
| Bay Resource Partners, L.P. | |
|
/s/ Philip J. Meyers |
|
| Authorized Signatory |
| Bay II Resource Partners, L.P. | |
|
/s/ Philip J. Meyers |
|
| Authorized Signatory |
| Bay Resource Partners Offshore Master Fund, L.P. | |
|
/s/ Philip J. Meyers |
|
| Authorized Signatory |
| GMT Exploration Company LLC | |
|
/s/ Philip J. Meyers |
|
| Authorized Signatory |
| GMT Capital Corp. | |
|
/s/ Philip J. Meyers |
|
| Vice President |
| Thomas E. Claugus | |
|
/s/ Philip J. Meyers |
|
| Authorized Signatory |