Global Canucks : from the jungles of South America to Australia's outback, Canadian companies are wildcatting under the fluttering Maple Leaf

This article described the how the Canadian company Gran Tierra Energy has expanded its operations to Australia and Colombia in South America. The companies 3 main criteria for judging its overseas projects include good geology, good fiscal terms and stable government policies. As a petroleum geologist, the president of the company gained expertise while exploring for and producing oil in North Africa, in Southeast Asia, and in Alaska. The experience laid the foundation for the company's success overseas. The challenges associated with overseas work were discussed, with particular reference to environmental liability, Aboriginal issues and planning. Companies are drawn to overseas operations primarily because of an expectation to create more value per dollar invested, compared to domestic opportunities. International operators face complexities that demand understanding of everything from tricky tax laws, difficulties repatriating proceeds, and logistical and technical challenges of expropriation of assets. The rewards, however, include huge resource potential, fiscal incentives, market opportunities and joint venture opportunities. 5 figs.