Canadian Halal Investor

TSX Shariah screener · September 2026

Is Gran Tierra Energy (GTE) Halal?

FAIL

Gran Tierra Energy · TSX: GTE / NYSE American: GTE / LSE: GTE · Energy

The short answer

Gran Tierra Energy Inc. (TSX: GTE; NYSE American: GTE; LSE: GTE) is a FAIL. The debt gate fails: total debt plus lease obligations of about US$645.0M at June 30, 2026 (long-term debt US$551.812M, current portion US$45.717M, lease obligations about US$47.5M) are about 190% of the ~C$482.24M market cap (C$13.63, September 25, 2026) - far above the ~33% ceiling. The business gate passes: oil and gas exploration and production in Colombia, Ecuador and Canada is a permissible business. The income gate passes: interest income of US$503K for Q2 2026 is about 0.27% of US$187.181M revenue - under the ~5% ceiling. The cash gate is elevated: cash of US$126.7M is about 37% of market cap. Material: on August 5, 2026 Gran Tierra agreed to sell its Colombian and Ecuadorian businesses to Maurel & Prom for about US$1.33B - not closed as of September 30, 2026; the continuing company would be essentially debt-free with about US$315M net cash, requiring a re-screen after closing. As with every screener here, this is a rules-based screening of published figures, not a religious ruling - consult a qualified scholar for personal guidance.

Gate 1 — Business activity: PASS

Gran Tierra Energy Inc. is an independent international oil and gas exploration and production company with segments in Colombia, Ecuador and Canada - all pure E&P (crude oil, natural gas, natural gas liquids). In February 2026 it signed an onshore exploration, development and production-sharing agreement with SOCAR in Azerbaijan. The company has no financial-services, alcohol, gambling, entertainment or interest-based business segments. Oil and gas exploration and production is a permissible business activity, so the business gate passes. It trades as TSX: GTE (also NYSE American: GTE and LSE: GTE). Facts only, no fatwa.

Gate 2 — Debt and cash: FAIL

The debt component fails. Long-term debt of US$551.812M plus the current portion of US$45.717M plus lease obligations of about US$47.5M (US$22.306M long-term plus about US$25.2M current) total about US$645.0M at June 30, 2026 - roughly C$915.4M at the ~1.42 USD/CAD rate, or about 190% of the ~C$482.24M market cap (C$13.63, September 25, 2026; 35,380,429 shares outstanding) - far above the ~33% ceiling. The cash component is elevated: cash and cash equivalents of US$126.7M (no short-term investments disclosed) are about 37% of market cap - above the ~33% guideline.

Gate 3 — Non-compliant income: PASS

Interest income of US$503K for Q2 2026 (US$904K for the six months ended June 30, 2026) against revenue of US$187.181M (US$359.238M for the half) is about 0.27% - fully disclosed in the 10-Q and well under the ~5% ceiling. The income gate passes. Material context: on August 5, 2026 Gran Tierra agreed to sell its Colombian and Ecuadorian businesses to Maurel & Prom for about US$1.33B total consideration (definitive proxy filed September 15, 2026; stockholder special meeting pending; noteholder consent obtained September 22, 2026) - the sale had not closed as of September 30, 2026. The company says the continuing company would be essentially debt-free with about US$315M net cash proceeds - a total capital-structure flip that would require a re-screen after closing. This is the same kind of debt-gate failure as this site's Rogers, Telus, Hydro One, Pembina Pipeline, Restaurant Brands and Canadian Tire screens.

Key figures used

Frequently asked questions

Is Gran Tierra Energy (GTE) halal?

Our September 2026 screen gives Gran Tierra Energy Inc. (TSX: GTE; NYSE American: GTE; LSE: GTE) a FAIL. The debt gate fails: total debt plus lease obligations of about US$645.0M at June 30, 2026 (long-term debt US$551.812M, current portion US$45.717M, lease obligations about US$47.5M) are about 190% of the ~C$482.24M market cap (C$13.63, September 25, 2026) - far above the ~33% ceiling. The business gate passes: oil and gas exploration and production in Colombia, Ecuador and Canada is a permissible business. The income gate passes: interest income of US$503K for Q2 2026 is about 0.27% of US$187.181M revenue - under the ~5% ceiling. The cash gate is elevated: cash of US$126.7M is about 37% of market cap. No public Zoya rating or Musaffa coverage for GTE was found; ShariaPortfolio publishes no per-stock screening tool. Material: on August 5, 2026 Gran Tierra agreed to sell its Colombian and Ecuadorian businesses to Maurel & Prom for about US$1.33B - the sale had not closed as of September 30, 2026; the company says the continuing company would be essentially debt-free with about US$315M net cash, which would require a re-screen after closing. This is a rules-based screening of published figures, not a religious ruling.

What business is Gran Tierra Energy in?

Gran Tierra Energy Inc. is an independent international oil and gas exploration and production company with segments in Colombia, Ecuador and Canada - all pure E&P (crude oil, natural gas, natural gas liquids). In February 2026 it signed an onshore exploration, development and production-sharing agreement with SOCAR in Azerbaijan. The company has no financial-services, alcohol, gambling, entertainment or interest-based business segments. Oil and gas exploration and production is a permissible business activity under AAOIFI-style screening, so the business gate passes. It trades as TSX: GTE (also NYSE American: GTE and LSE: GTE).

Why does Gran Tierra Energy fail the debt gate?

Long-term debt of US$551.812M plus the current portion of US$45.717M plus lease obligations of about US$47.5M (US$22.306M long-term plus about US$25.2M current) total about US$645.0M at June 30, 2026 - roughly C$915.4M at the ~1.42 USD/CAD rate, or about 190% of the ~C$482.24M market cap (C$13.63, September 25, 2026; 35,380,429 shares outstanding). The ~33% ceiling is far exceeded, so the debt gate fails decisively - even on balance-sheet debt alone (~178%) before adding lease obligations. This is the same kind of debt-gate failure as this site's Rogers, Telus, Hydro One, Pembina Pipeline, Restaurant Brands and Canadian Tire screens. Facts only, no fatwa.

Which gates does Gran Tierra Energy pass?

Two gates pass, one is elevated. Business: oil and gas exploration and production is a permissible activity, so the business gate passes. Income: interest income of US$503K for Q2 2026 (US$904K for the six months) against revenue of US$187.181M (US$359.238M for the half) is about 0.27% - fully disclosed in the 10-Q and well under the ~5% ceiling, so the income gate passes. Cash is elevated: cash and cash equivalents of US$126.7M (no short-term investments disclosed) are about 37% of market cap - above the ~33% guideline. Material context: the pending sale of the Colombian and Ecuadorian businesses to Maurel & Prom (about US$1.33B, announced August 5, 2026, stockholder vote pending) would, per the company, leave the continuing company essentially debt-free with about US$315M net cash proceeds - this screen reflects pre-close filings and must be re-run after closing.

What do Zoya, Musaffa or ShariaPortfolio say about GTE?

No publicly verifiable Zoya rating for Gran Tierra Energy (GTE) was found via web search - its NYSE American listing makes Zoya app coverage plausible, but no rating could be confirmed. No Musaffa stock page for Gran Tierra Energy was found (search only surfaced an unrelated Egyptian ticker). ShariaPortfolio publishes no per-stock screening tool, so no coverage exists there. The per-gate figures behind this screen's result come from the company's Q2 2026 10-Q filed August 4, 2026 (quarter ended June 30, 2026) and market data as of late September 2026.

Sources

Screened 2026-09-30 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.